Global Statistics Representing Dementia Care Products Market Scenario
Dementia is a disease caused by damage of brain or a series of strokes. Increasing prevalence of Alzheimer’s diseases across the globe is propelling the growth of dementia care market. Furthermore, increasing cases of depression, delirium, side effects from medications, thyroid problems, certain, vitamin deficiencies and excessive use of alcohol are caused dementia diseases. As per WHO estimates, people with dementia is projected to reach 82 million in 2030 and 152 million in 2050. In addition, there are around 10 million new cases every year of dementia. Moreover, changing lifestyle, change in eating habits are propelling growth of the market. major players are focusing on product portfolio expansion through merger and acquisition. For instance, in 2016, Teva Pharmaceutical Industries Ltd. acquired Actavis Generics for Alzheimer’s portfolio of Actavis Generics.
The global dementia care products market was valued around USD 15.8 million in 2017 and is expected to register CAGR of 6.6% in the forecast period.
Dementia care market is segmented into product type and end users.
Based on the product type, the market is segmented into memory exercise & activity products, daily reminder products, bathroom safety products, dining aids, communication products, personal safety products and others.
Based on end user, the market is segmented into home care settings and long-term care centers.
Geographically, the dementia care market is bifurcated into four major regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA).
North America is expected to hold the significant market share of the dementia care. This is attributed to increasing work pressure and stress leading to increasing prevalence of dementia. Apart from rising neurological diseases such as epilepsy, Parkinson’s disease and stroke are supporting the growth of the dementia care market. For instance, according to Alzheimer's Association, in 2018, approximately 16.1 million Americans were suffering from Alzheimer’s or other dementias.
Europe is expected to witness significant growth of dementia market during forecast period. This is attributed to increasing prevalence of Alzheimer’s disease. Growing number of cases of depression, delirium, side effects from medications, thyroid problems, certain vitamin deficiencies and excessive use of alcohol are propelling the growth of the dementia care market. For instance, according Mental Health Association, in 2014, approximately 19.7% people suffered from depression.
Asia Pacific is expected to be fastest growing region owing to increasing prevalence of dementia in Asian countries. Growing number of cases of depression, anxiety, paranoia, agitation and hallucination is lead to cause dementia care market. As per ALZHEIMER'S DISEASE INTERNATIONAL, in Asia pacific region cases of dementia are expected to increase from 23 million in 2015 to almost 71 million by 2050.
Additionally, LAMEA is experiencing a slow growth due to poor infrastructural development and less government support. As per the World Health Organization, more than 3.4 million of people are suffering from Alzheimer’s are in Latin America and the Caribbean.
Some of the key players in the global dementia care market are Parentgiving, Inc., EasierLiving, LLC, Find memory care, Healthcare products LLC., Best Alzheimer's Products, NRS Healthcare, and Buddi Ltd.
The Segmentation Of Dementia Care Market
By Product Type
By End User
Why to buy this report right now?
• Definitive Market Data
• Dementia care market market Analysis
• Competitive Analysis
• Recent Opportunities in the Market
• 6-7 year performance forecasts: major segments product type, and end-user.
• Market Share Analysis
• Potential Venture Avenues