According to a new market report published by Persistence Market Research “Global Market Study on Treatment for Syndromes of Dementia and Movement Disorders: Asia to Witness Highest Growth by 2020,” the global treatment for syndromes of dementia and movement disorders market was valued at USD 12,859.8 million in 2014 and is expected to grow at a CAGR of 8.6% from 2014 to 2020, to reach an estimated value of USD 21,154.8 million in 2020.
The treatment for syndromes of dementia and movement disorders market is witnessing significant growth due to increasing R&D investments in drug discovery and developments. In addition, increasing prevalence of neurodegenerative disorders and rising awareness about mental disorders are also driving the growth of the market. However, most of the drugs fail in Phase III due to lack of sufficient knowledge about the mechanisms of the brain and the unknown causes of the disease. In addition, lack of comprehensive therapeutic management, strict regulations, and time-consuming drug approval process inhibit the growth of the market. The global treatment for syndromes of dementia and movement disorders market is anticipated to grow from an estimated USD 12,859.8 million in 2014 to USD 21,154.8 million in 2020 at a CAGR of 8.6% during the forecast period.
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In North America, growing aging population and rising incidence of neurodegenerative disease are driving the use of treatment for syndromes of dementia and movement disorders in the market. In addition, lack of proper medication is also fuelling the growth of treatments for syndromes of dementia and movement disorders market.
In Europe, the treatment for syndromes of dementia and movement disorders market is driven by rising incidence of mental disorder related disease and growing aging population. On the other hand, various awareness programs were launched by public and private health institutions to control dementia and movement disorders, which would increase the use of dementia and movement disorder drugs in the region.
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However, in Asia the growth for treatment for syndromes of dementia and movement disorders is much higher than developed countries due to widening health insurance penetration, and large population base.
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