Lewy Body Dementia Treatment Market: Introduction
Lewy body dementia (LBD) is the second-most common form of progressive dementia after Alzheimer’s disease. This is termed as dementia with protein deposits, known as Lewy bodies. These Lewy bodies are deposited in the region of the brain that is responsible for thinking, memory, and movement. Lewy body dementia causes a decline in mental abilities resulting in various symptoms such as visual hallucinations, rigid muscles, tremors, and slow movement. Other symptoms include poor regulation of body functions, cognitive problems, sleep difficulties, and depression.
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LBD is the third-most common cause of dementia, thereby accounting for 5% to 10% of total cases. Lewy body is also estimated to be found in other brain disorders such as Alzheimer’s disease and Parkinson’s disease.
Key Drivers, Restraints and Opportunities of Global Lewy Body Dementia Treatment Market
Rise in geriatric population and presence of key players in the market launching the drugs for managing dementia condition are few factors propelling the global Lewy body dementia treatment market. As per research, 40% of Parkinson’s patients are likely to suffer from Parkinson’s dementia disease after the age of 60. In China, the geriatric population is estimated to increase by 30% by 2040. This is expected to drive the demand for efficient treatment of LBD during the forecast period.
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Robust research & development and investments in the same would drive the development of biologics and other advanced therapies for the management of LBD, which in turn is anticipated to propel the global market in the near future.
Lewy body dementia is a progressive disease which accounted for the 10% to 15% of the total cases of dementia. In the U.K., as per research, among 100 dementia patients, 10 to 15 patients suffer from LBD and hence, this statistic is estimated to boost the Lewy body dementia treatment market.
Underdiagnosis and late diagnosis of LBD in the geriatric population is likely to hinder the treatment for the same. Furthermore, there is no cure for LBD, which is estimated to be a key factor restraining the market.
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North America to Capture Major Share of Global Lewy Body Dementia Treatment Market
North America is expected to account fora major share of the global lewy body dementia treatment attributable to a rise in the geriatric population, an increase in prevalence of dementia, rise in patient burden suffering from Alzheimer’s and Parkinson’s diseases, and technological advancements. Moreover, presence of key market players; availability of drugs to manage LBD; awareness created by various companies, associations & governments; and well-established healthcare infrastructure are major factors boosting the market in the region. As per National Institute of Neurological Disorders and Strokes, in 2019, an estimated 1.4 million people in the U.S. are likely to suffer from lewy body dementia, which includes Parkinson’s disease dementia.
The Lewy body dementia treatment market in Asia Pacific is estimated to expand at a significant pace during the forecast period. Underdiagnosis of neurological conditions, such as dementia, Parkinson’s, and Alzheimer’s disease in the region, and an increase in the geriatric population in China, Japan, South Korea, and India are expected to augment the Lewy body dementia treatment market in Asia Pacific in the near future.
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Key Players Operating in Global Lewy Body Dementia Treatment Market
The global Lewy body dementia treatment market is highly fragmented with the presence of various key small- and medium-sized players. A large number of manufacturers hold a major share in their respective regions. Major players operating in the global lewy body dementia market are:
- BioArctic AB
- Eisai Co., Ltd.
- Axovant Sciences Ltd.
- Sumitomo Dainippon Pharma Co., Ltd
- Jazz Pharmaceuticals, Inc
- Immungenetics AG
- Noven Pharmaceuticals, Inc
- Eli Lilly and Company
- Novartis AG
- Pfizer Inc
- Bayer AG
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