It is the second most common type of dementia after Alzheimer’s disease. LBD leads to a buildup of abnormal structures known as Lewy bodies in the brain, which contain a protein called alpha-synuclein. Symptoms include visual hallucinations, parkinsonism, and cognitive impairment. Common symptoms of LBD include abnormal, repetitive movements, changes in alertness and attention, changes in thinking and memory and difficulties with balance and movement. LBD has various overlapping features with other neurological diseases like Parkinson’s disease and Alzheimer’s disease, which makes it a complex disorder to diagnose.
The Global Lewy Body Dementia Therapeutics Market is estimated to be valued at USD 1.25 Bn in 2024 and is expected to reach USD 2.01 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Key Takeaways
Key players operating in the Lewy body dementia therapeutics market are EIP Pharma Inc.,Cognition Therapeutics,Eisai Inc.,Eli Lilly and Company,Athira Pharma.. The increasing efforts for early and accurate LBD diagnosis by leveraging digital technologies present significant growth opportunities in the market. Advancements in disease understanding and development of biomarkers for detection of aggregated alpha-synuclein in cerebrospinal fluid and blood are expected to aid in LBD diagnostics.
Key players operating in the Lewy Body Dementia market are EIP Pharma Inc., Cognition Therapeutics, Eisai Inc., Eli Lilly and Company, Athira Pharma. The increasing prevalence of Lewy body dementia worldwide presents lucrative business opportunities for market players. Growing collaborations between pharmaceutical companies and research institutes focusing on identifying disease biomarkers and developing targeted therapeutics will further fuel market growth. Technological advancements in brain imaging techniques like DAT scans and FDOPA PET scans help in distinguishing LBD from other dementias and aid accurate diagnosis.
Market Drivers
The increasing global geriatric population prone to neurodegenerative diseases is a major market driver. As per estimates, over 50 million people worldwide live with dementia currently and numbers are expected to triple by 2050. Rising investments in dementia research by pharmaceutical companies and government organizations to develop disease-modifying therapies will also augment market revenues. Growing awareness about atypical dementia symptoms and improving diagnostic rates especially in developing nations will further support the Lewy body dementia market growth over the forecast period.
Lewy body dementia is one of the most common types of progressive dementia after Alzheimer’s disease. However, there are several challenges associated with diagnosis and treatment of Lewy body dementia. Diagnosing Lewy body dementia is difficult as its symptoms overlap with those of Alzheimer’s disease and Parkinson’s disease. There is no single definitive test for Lewy body dementia and diagnosis depends on neurological examination and medical history of the patient. Developing specific biomarkers for Lewy body dementia remains a challenge. Currently, there are no treatments that can slow or stop the progression of Lewy body dementia. Managing symptoms through pharmacological and non-pharmacological approaches remains the primary treatment approach. Developing effective disease-modifying therapies has been difficult owing to limited understanding of exact causes and pathogenesis of Lewy body dementia. High costs associated with care of Lewy body dementia patients also poses challenges.
SWOT Analysis
Strength: Growing awareness and research on Lewy body dementia in recent years. Increasing availability of diagnostic tools and guidelines.
Weakness: Limited understanding of exact causes and pathogenesis of Lewy body dementia hampers development of disease-modifying therapies. Diagnosis challenges lead to delay in initiation of treatment.
Opportunity: Growing elderly population presents large patient pool. Increasing investments in Lewy body dementia drug development by pharmaceutical companies.
Threats: Presence of other progressive neurodegenerative disorders like Alzheimer’s disease poses competition. High costs associated with long-term care of patients.
Geographical Regions in Lewy Body Dementia Market
By region, North America currently holds the major share of the global Lewy body dementia market, in terms of value, followed by Europe. Favorable reimbursement policies and growing awareness about Lewy body dementia are the key factors driving the market in North America. However, Asia Pacific market is expected to witness fastest growth during the forecast period owing to rapidly growing elderly population, increasing healthcare expenditure, and rising prevalence of neurodegenerative disorders in the region.
Fastest Growing Region in Lewy Body Dementia Market
Asia Pacific is poised to be the fastest growing region for Lewy body dementia market during the forecast period from 2024 to 2031. This is attributed to factors such as rising geriatric population, increasing prevalence of neurodegenerative disorders, growing healthcare spending, expanding diagnostic capabilities, and improving economic conditions in several Asia Pacific countries including China and India. In addition, supportive government policies and initiatives to spread awareness about age-related cognitive disorders are helping drive the market growth in Asia Pacific region. Emerging markets in Southeast Asia and Latin America also offer significant growth opportunities for players operating in the Lewy body dementia market.
What Are The Key Data Covered In This Lewy body dementia therapeutics Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Lewy body dementia therapeuticsgrowth between 2024 and 2031.
:- Accurate calculation of the size of the Lewy body dementia therapeuticsand its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Lewy body dementia therapeuticsIndustry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Lewy body dementia therapeuticsvendors
FAQ’s
Q.1 What are the main factors influencing the Lewy body dementia therapeutics?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Lewy body dementia therapeutics companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Lewy body dementia therapeutics distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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