Dementia is quite possibly the most widely recognized age-related ailments. As we age, mental cycles and memory become influenced by changes in the mind, bringing about issues with memory, consideration, temperament, and conduct. Dementia can happen in anybody, despite the fact that it is more normal in older grown-ups and individuals experiencing other mental problems like melancholy, bipolar confusion, schizophrenia, fanatical urgent issue, and post-awful pressure issue.
Market Dynamics
High commonness of dementia is required to push development of the dementia drugs market. For example, as indicated by Alzheimer's Association, around 5.8 million individuals in the U.S. matured 65 and more established are living with Alzheimer's dementia in 2020. In addition, expanding geriatric populace is additionally expected to help in development of the market. For example, as per the U.S. Enumeration Bureau, the U.S. geriatric populace is required to arrive at 77 million by 2034.
Research and development of new medications is required to offer rewarding development openings for major parts in the dementia drugs market. For example, in September 2020, scientists from Garvan Institute of Medical Research in New South Wales, Australia, announced that metformin, a typical sort 2 diabetes drug, might be viable in decreasing the danger of dementia in people with type 2 diabetes.
Among districts, North America is required to observe critical development in the dementia drugs market, inferable from R&D of new medications in the locale. For example, in December 2020, Prevail Therapeutics Inc., a biotechnology organization reported that the principal patient has been dosed in the Phase 1/2 PROCLAIM clinical preliminary assessing PR006, an investigational AAV9 quality treatment conveying the GRN quality, for the treatment of frontotemporal dementia patients with GRN changes.
Competitive Analysis
Major players operating in the dementia drugs market include, Eisai, Inc., Janssen Pharmaceuticals, Inc., Biogen Pharmaceuticals, Forest Laboratories, Inc., Eli Lilly and Company, Novartis AG, Sanofi S.A., BioXcel Therapeutics, Inc., AstraZeneca GmbH, F. Hoffmann-La Roche, Merck & Co., Inc.., Valeant Pharmaceutical International, Pfizer Inc., and Teva Pharmaceuticals Industries Ltd.
Major players operating in the dementia drugs market are focused on R&D to expand their product portfolio. For instance, in January 2021, BioXcel Therapeutics, Inc., a clinical-stage biopharmaceutical company, announced that BXCL501, the company’s proprietary, orally dissolving thin film formulation of dexmedetomidine, met the primary and secondary endpoints of the TRANQUILITY trial at the 60 mcg dose level for the treatment of agitation in dementia.
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