Treatment for Syndromes of Dementia and Movement Disorders Market to Witness Exponential Growth by 2024

A rise in the incidence of various neurodegenerative diseases has greatly impacted the market for the treatment for syndromes of dementia and movement disorders. According to the World Health Organization, over 47 million people around the globe were living with dementia in 2015. This is projected to increase to over 75 million in another 15 years. Owing to the under-recognition of this group of diseases in the past, the market for the same holds a promising future.

The global market for treatment for syndromes of dementia and movement disorders can be bifurcated into technological treatment and drug-based treatment. Neurodegenerative diseases such as Lewy body dementia, Huntington’s disease, Alzheimer’s disease, Pick’s disease, and Parkinson’s disease can be controlled or treated with the help of therapeutic drugs and technological options such as tau tangling inhibitors, monoclonal antibodies, immunization strategies, and biomarkers.

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The report offers a granular view of the treatment for syndromes of dementia and movement disorders market, taking into consideration the prominent forces acting in its favor and those creating roadblocks. A detailed evaluation of the regional and disease-type segments has been included in the study in order to give readers a clear and complete understanding of the market dynamics.

The market for treatment for syndromes of dementia and movement disorders is driven by a rapidly expanding geriatric population highly susceptible to various neurodegenerative diseases. According to HelpAge International, currently nearly 1 in 10 people are over the age of 60, which is likely to rise to 1 in 5 people by 2050. Moreover, by 2050, the number of people above the age of 60 will exceed that of children below the age of 14.

Another factor slated to positively impact the market are frequent collaborations between pharmaceutical companies, drug and device manufacturing firms, research organizations, and medical institutes. These alliances have resulted in aggressive R&D efforts aimed at the discovery of effective treatment options for syndromes of dementia and movement disorders.

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The market is, nevertheless, affected by several challenges that threaten to impede its growth over the coming years. A key restraining factor is limited knowledge regarding brain mechanisms and the different neurodegenerative diseases. In addition to this, the absence of comprehensive therapeutic and management solutions for neurological disorders, drug failures in late-stage clinical trials, rigid regulatory requirements, and lengthy approval time for drugs and devices act as deterrents to the growth of the market for the treatment for syndromes of dementia and movement disorders.

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Hoffmann-La Roche, Pfizer, AstraZeneca GmbH, Novartis AG, Merck & Co., Sanofi S.A., and Valeant Pharmaceutical International some of the leading players competing in the global market for the treatment for syndromes of dementia and movement disorders. Companies such as FORUM Pharmaceuticals, Axovant Sciences, and Biotie have, in the past, dedicated resources toward the research and development of treatment methods for key neurodegenerative disorders. Strong product pipeline has enabled many of these pharma companies to gain a strong foothold in the treatment for syndromes of dementia and movement disorders market. Other growth strategies that have proven to be effective in this market include collaborations, investments, and clinical trials.