According to a latest research study by Fact.MR the global lewy body dementia treatment market is projected to surpass US$ 3,650 Mn in 2019, up from nearly 3,500 Mn in 2018. Broader factors concerning the healthcare industry, especially renewed focus on managing geriatric and mental health issues, are likely to impact growth of lewy body dementia treatment market.
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Cholinesterase inhibitors will remain the topselling drugs for treating lewy body dementia, accounting for nearly 60% share in 2018. The demand for cholinesterase inhibitors will be followed by antipsychotic drugs owing to their minimal side effects in management of lewy body dementia.
The study opines that macro-economic factors, including growing geriatric population, increasing per capita healthcare expenditure, and paradigm shift towards a value-based healthcare model will drive market growth. Increasing healthcare spending has the potential to directly impact the need for lewy body dementia diagnostics and treatment solutions, which, in turn, will create growth opportunities for stakeholders in the market.
As per the study, the funding for research and investments in drugs has increased significantly, owing to the increasing prevalence of mental health issues, especially in elderly population. According to the study, increase in the number of on-going clinical trials will pave way for more effective lewy body dementia treatment over existing options.
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The adoption of drug manufacturing processes will lead to enhanced lewy body dementia treatment procedures. Moreover, the growing research and development initiatives in lewy body dementia treatment market will boost the efficiency of the existing lewy body dementia treatment choices, which in turn, will aid stakeholders in appealing to a wider consumer base.
According to the study, the growing healthcare facilities in developing countries, with a high prevalence of lewy body dementia, are creating lucrative growth opportunity for key pharmaceutical companies. Key players in lewy body dementia treatment market are adopting unique strategies, such as capacity expansion, novel product launches, and adoption of innovation-driven products, to increase the sales of their offerings in diverse geographies. Additionally, companies in lewy body dementia treatment market are entering into strategic alliances with other pharmaceutical companies and government bodies for faster development of present pipeline drugs.
According to the Fact.MR study, North America is likely to account for nearly one-third share of the market. This can be attributed to the rapid shift in demand for lewy body dementia treatment in developed economies, which have progressive healthcare sector and healthy reimbursement scenario for expensive drug cost. Furthermore, the easy accessibility for such treatment due to the presence of concerned healthcare professionals is driving growth in North America lewy body dementia treatment market. The study anticipates East Asia to be the second lucrative market for lewy body dementia treatment, following North America.
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