Dementia is a broad category of mental illnesses, which, in the long run, leads to degeneration of the ability to think and remember in an individual. Despite the advancements in science and medicine, the causes of dementia haven’t yet been identified. Consequently, the disease is only treated symptomatically. Nonetheless, in many cases movement disorders such as Parkinson’s are known to be a catalyst to dementia. Research shows that about 80% of people with Parkinson’s or other movement disorders develop cognitive defects. The global market for treatment for syndromes of dementia and movement disorders in 2014 recorded revenues worth US$ 12,859.8 million, which are expected to raise up to US$ 21,154.8 million by the end of 2020. Over the forecast period 2014-2020, the global food retail market will expand at a healthy CAGR of 8.6%.
Although, dementia doesn’t just affect the patients, but also those around him/her. As the number of old people is increasing across the globe, the number of cases registered for dementia are also on the rise. Against this backdrop, the market for treating patients with dementia and movement disorders is gaining an impetus. As the disease is overwhelming for caretakers, medical facilities across the globe are looking at solutions such as home care services, adult day care services, psychological therapies, medication, and medical devices for last stage dementia patients, such as gastronomy feeding tubes. Another important segment of treatment for dementia and movement disorders is seen in the growth of palliative care units.
Though a lot of effort is being made to ease the troubles of those suffering from dementia and movement disorders, the strict nature of regulatory framework, red tape in approval system of drugs, paucity of funds for research and development, and poor therapeutic management methods are causing major hurdles for this market. Additionally, most drugs to treat the disease fail Phase III of testing, making the efforts seem in vain and bringing the problem of treating these conditions back to square one.
The global market for treatment for syndromes of dementia and movement disorders is categorized on the basis of drugs used for treatment of progressive dementia, movement disorders and progressive dementia with certain other neurological abnormalities. Among these, the segment of drugs used in treatment of progressive dementia is segmented as drugs for progressive dementia and diseases based therapeutics in progressive dementia. Meanwhile, the segment of drugs used with other neurological abnormalities to treat progressive dementia is categorized into drugs with other neurological abnormalities for progressive dementia and disease based therapeutics with other neurological abnormalities under progressive dementia. Also the segment of drugs used for treating movement disorders is segmented as drugs for movement disorders and diseases based therapeutics in movement disorders.
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Based on geographical region, the global market for treatment for syndromes of dementia and movement disorders is segmented into Europe, North America, APAC and Rest of the World. In the global market for treatment for syndromes of dementia and movement disorders, the North America region is expected to remain dominant owing to growing aging population and rising incidences related to neurodegenerative diseases. Also in next six years, the Asia region is anticipated to expand at higher growth rates in the global market for treatment for syndromes of dementia and movement disorders.
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Major companies operating in the global market for treatment for syndromes of dementia and movement disorders include Novartis AG, Sanofi S.A., AstraZeneca GmbH, F. Hoffmann-La Roche, Merck & Co., Valeant Pharmaceutical International, and Pfizer, among others.
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