Dementia Care Products Market

Market Overview

The global dementia care products market size was valued at around USD 15.8 million in 2017 and is expected to register CAGR of 6.6% in the forecast period.

Dementia is a disease caused by damage to the brain or a series of strokes. The increasing prevalence of Alzheimer’s diseases across the globe is propelling the growth of the dementia care products market. Furthermore, increasing cases of depression, delirium, side effects from medications, thyroid problems, certain, vitamin deficiencies, and excessive use of alcohol is caused by dementia diseases. As per WHO estimates, people with dementia are 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.

Market Dynamics

Changing lifestyles, changes in eating habits are propelling the dementia care products market growth. major players are focusing on product portfolio expansion through mergers and acquisitions. For instance, in 2016, Teva Pharmaceutical Industries Ltd. acquired Actavis Generics for Alzheimer’s portfolio of Actavis Generics.

Regional Analysis

Geographically, the dementia care products market share is bifurcated into four major regions such as North America, Europe, Asia Pacific (APAC), Latin America, Middle East & Africa (LAMEA).

North America Dominates the Global Market

North America is expected to hold a significant market share of dementia care. This is attributed to increasing work pressure and stress leading to the 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 the dementia market during the forecast period. This is attributed to the increasing prevalence of Alzheimer’s disease.  A 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 to Mental Health Association, in 2014, approximately 19.7% of people suffered from depression.

The Asia Pacific is expected to be the fastest-growing region owing to the increasing prevalence of dementia in Asian countries. The growing number of cases of depression, anxiety, paranoia, agitation, and hallucination is leading to cause dementia care market. As per ALZHEIMER'S DISEASE INTERNATIONAL, in the 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 slow growth due to poor infrastructural development and less government support. As per the World Health Organization, more than 3.4 million people are suffering from Alzheimer’s are in Latin America and the Caribbean.

Segmental Analysis

The dementia care products market is segmented into product types 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.