Vascular dementia is a progressive condition that occurs due to conditions that block or reduce blood flow to the brain, such as stroke or transient ischemic attack. It is one of the most common types of dementia after Alzheimer's disease. Some key symptoms include difficulty thinking, understanding, learning new things, planning and organizing, mood and behavior changes, problems with vision or spatial skills. Several diagnostic methods are used to identify vascular dementia such as neuropsychological tests, brain scans like CT scan or MRI, blood tests and angiogram. Therapies involve treating underlying conditions, medications to improve symptoms, cognitive training, lifestyle management.
The Global Vascular Dementia Market is estimated to be valued at US$ 9.58 Billion in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024-2029.
Key Takeaways
Key players operating in the Vascular Dementia market are Pfizer Inc., Daiichi Sankyo Company Limited, Eisai Co. Ltd., H Lundbeck A/S, Ono Pharmaceutical Co. Ltd., Johnson & Johnson, and Gedeon Richter Plc.
The growing geriatric population, increasing prevalence of stroke, diabetes and hypertension leading to vascular risk factors are driving the demand for vascular dementia treatment. According to WHO, by 2050, the number of people aged 60 years and older is expected to total 2 billion, up from 900 million in 2015.
Key players are expanding their geographical presence through collaborations and partnership with regional players. For instance, in 2020, Lundbeck partnered with Medison Pharma to commercialize Northera in Israel for the treatment of neurogenic orthostatic hypotension.
Market key trends
One of the major trends in the vascular dementia market is the increasing focus on combination therapy. Currently, drugs for vascular dementia only address symptoms and no cure is available. Clinical trials are exploring combination of cholinesterase inhibitors, anti-depressants and anti-psychotics to improve symptoms.
Another trend is the use of non-invasive brain stimulation techniques like transcranial magnetic stimulation and transcranial direct current stimulation. Studies show they may improve cognitive functions by modulating neuronal plasticity in targeted brain regions affected by vascular changes.
Porter's Analysis
Threat of new entrants: Low risk as existing established players dominate the market and regulation requirements for new entrants are stringent. Brand loyalty and patents act as entry barriers.
Bargaining power of buyers: Moderate as there are limited treatment options available and buyers have to rely on existing brands, however increasing healthcare costs put pricing pressure on manufacturers.
Bargaining power of suppliers: Moderate as key starting materials and API manufacturing requires specialized expertise and compliance. Suppliers have to rely on orders from big pharma companies.
Threat of new substitutes: Low threat as no disease-modifying treatments currently exist and managing symptoms is the standard care. Close substitutes are limited.
Competitive rivalry: High as major players aggressively compete on new product development and outpacing each other. Pricing wars and intense marketing often seen between top brands.
Geographical regions:
North America dominates the global vascular dementia market in terms of value, accounting for the highest market share. This can be attributed to growing elderly population, higher healthcare spending, and presence of major market players in the region.
The Asia Pacific region is poised to witness the fastest growth during the forecast period owing to increasing prevalence of vascular risk factors like hypertension and diabetes, coupled with improving access to healthcare across developing nations. Rising medical tourism in India and China further propels the regional market.
Geographical regions:
The United States holds the largest market share in the global vascular dementia market owing to growing geriatric population, rapid adoption of new therapies and availability of advanced healthcare facilities.
China is expected to witness the fastest CAGR over the next five years. This growth can be credited to alarming increase in elderly demography, rising healthcare expenditure, growing medical awareness as well as strategic focus by international companies to tap into the untapped potential.
What Are The Key Data Covered In This Vascular Dementia Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Vascular Dementia 's growth between 2024 and 2031.
:- Accurate calculation of the size of the Vascular Dementia and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Vascular Dementia Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Vascular Dementia vendors
About Author:
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it