Mild Cognitive Impairment (dementia) Market: Increasing geriatric population; rising incidence rates of mild cognitive impairment (dementia) patients are expected to augment the market at a healthy CAGR of 5.3% during the forecast period, 2022 to 2030 :

Pune, India, May 2021/MRFR Press Release/- Market Research Future Has Published Its Half-Cooked Research Report on The Global Mild Cognitive Impairment (Dementia) Market.

Mild Cognitive Impairment Market Highlights

According to MRFR analysis, the global mild cognitive impairment (dementia) market is expected to register a CAGR of 5.30% from 2022 to 2030 and hold a value of over USD 2.96 billion by 2030.

The global dementia market is driven by several factors, such as rising awareness about mild cognitive impairment, rising incidence rates of dementia patients, and increasing geriatric population. For instance, according to Alzheimer's Association, about 2.3 million persons with Alzheimer's dementia are 85 or older, accounting for 36% of all people with Alzheimer’s dementia in 2021. By 2060, 6.7 million individuals aged 85 and more are predicted to develop Alzheimer's dementia, accounting for over half (48%) of all persons aged 65 and up with the disease. Moreover, a rising incidence rates of dementia patients is anticipated to drive market growth further.

Additionally, the population with dementia are at high risk of contracting COVID-19 infection as the cognitive symptoms cause difficulty to abide by the safety guidelines that were proposed to contain the viral spread. Moreover, COVID-19 has a significantly negative impact on the global mild cognitive impairment market, owing to a decrease in the number of visits to hospitals and clinics for the treatment of neurodegenerative disorders. However, with continued vaccines and decreased COVID-19 occurrences, the investigated market is projected to reach its full potential in the future.

Mild Cognitive Impairment Market

Regional Analysis

North America is likely to dominate the mild cognitive impairment market due to increase in the older patient’s population, ongoing research to find the perfect and effective cure and high awareness of mental health. In addition, the development of technology and increasing digitization will also help the market expansion.

Europe is likely to account for a sizable portion of the market for this condition due to the diverse portfolios of major players such as F. Hoffman La Roche Ltd., (Switzerland) Novartis AG (Switzerland), and Accord UK Ltd. (UK) and increased awareness of mild cognitive impairment (dementia) in the region. For instance, according to the Office for National Statistics UK 2021 statement, dementia and Alzheimer’s disease were the most prevalent pre-existing diseases detected in COVID-19 fatalities in the UK. Hence, the pandemic had a positive impact on the market growth in the region.

Asia-Pacific is projected to be the fastest-growing regional market during the forecast period due to factors such as growing aging population and increasing government initiatives in the region. Furthermore, high demand of treatment medication and rising economy in the region are also boosting the market growth.

The market growth in the Rest of the World is slower than in the other regions due to poor healthcare facilities, presence of lower economic countries, and less availability of treatment options. However, growing cognitive impairment burden, increasing healthcare spending, and government initiatives are expected to drive market growth.

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Mild Cognitive Impairment Market Segmentation

The global dementia market has been segmented into disease type, age, indications, and treatment.

Based on disease type, the market has been segmented into Amnestic MCI and Non-Amnestic MCI. Amnestic MCI held the largest segment in 2021. This is due to the increase in the older population across the globe.

Based on age, the market has been segmented into the child, adult, and geriatric. The geriatric segment held a higher share in 2021 due to surge in vulnerable older people population across the globe.

Based on indications, the market has been segmented into Lewy body dementia, Parkinson’s disease dementia, Alzheimer’s disease dementia, vascular dementia, and other indications. The Alzheimer’s disease dementia segment held a larger share in the market in 2021 owning to the growing number of people living with Alzheimer’s dementia across the globe,

Based on treatment, the market has been segmented into medication and therapy. Medicine has been further categorized into cholinesterase inhibitors, benzodiazepines, glutamate inhibitors, antihistamines, mao inhibitors, and proton pump inhibitors. The medication segment held the held a larger share in 2021 because of due to its immediate and effective impact on MCI symptoms.

Dementia Market Key Players

Some of the key market players are Pfizer Inc. (US), F. Hoffman La Roche Ltd (Switzerland), Novartis AG (Switzerland), Accord UK Ltd (UK), Dr. Reddy’s laboratories Ltd (India), Hikma Pharmaceuticals PLC (UK), Sun Pharmaceuticals ltd (India), Johnson & Johnson Services, Inc., (US), Teva Pharmaceutical Industries Ltd., (Israel), and Takeda Pharmaceutical Company Limited (US).