Lewy Body Dementia Market is Estimated to Witness High Growth Owing to Rising Prevalence of Neurological Disorders

Lewy body dementia (LBD) is the second most common form of progressive dementia after Alzheimer’s disease. It is caused by the abnormal accumulation of the protein alpha-synuclein inside brain cells, known as Lewy bodies. LBD causes problems with thinking, movement, behavior, and mood. Common symptoms include problems with attention, executive function, visual hallucinations, and parkinsonism. The global Lewy body dementia market is primarily driven by the rising geriatric population, increasing prevalence of neurological disorders, and progression of R&D activities.

The Global Lewy Body Dementia Therapeutics Market is estimated to be valued at USD 1.25 Bn in 2024 and is expected to reach USD 2.01 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.

Key Takeaways
Key players operating in the Lewy body dementia therapeutics market are EIP Pharma Inc.,Cognition Therapeutics,Eisai Inc.,Eli Lilly and Company,Athira Pharma. Key players are focusing on developing disease-modifying therapies for the treatment of Lewy body dementia. Furthermore, key opportunities in the market include increasing adoption of pipeline drugs and untapped emerging markets. The market is also witnessing growth due to expansion across regions such as Asia Pacific and Latin America due to rising awareness.

The rising prevalence of neurological disorders such as Parkinson’s disease and Alzheimer’s disease is a major driver of the Lewy body dementia market. According to the Alzheimer’s Association, Alzheimer’s disease and other dementias cost the U.S. $305 billion in 2020. Globally, the total estimated worldwide costs of dementia are $1.3 trillion in 2030. The increasing healthcare expenditure to curb the burden of neurological disorders is expected to boost the market over the forecast period.

PEST Analysis
Political: Lewy body dementia care and treatment is influenced by regulations and policies set around the price control, drug approval and other elderly care services.
Economic: Global economic fluctuations can impact the spending on Lewy body dementia diagnosis and management. Any changes in healthcare budgets of countries can further influence the market dynamics.
Social: With expanding elderly population and increased life expectancy, the social demand for effective solutions for Lewy body dementia is on a rise. Changing social habits also determine the risk factors.
Technological: Advancements in areas of neuroimaging, development of novel drug targets are improving the understanding and management of Lewy body dementia. Technological innovations are also assisting in early and accurate diagnosis.

North America holds the largest share of the Lewy body dementia market, both in terms of value and volume. This can be attributed to the increasing prevalence of Lewy body dementia, availability of reimbursement, and high medical spending. Besides, the regional market is driven by the presence of major market players and rising awareness about Lewy body dementia. Asia Pacific is poised to be the fastest-growing regional market over the forecast period due to the improving healthcare infrastructure, expanding base of geriatric population, and increasing spending on dementia care.

The geographical concentration of the Lewy body dementia market is currently highest in Western Europe, led by Germany, France, Italy, Spain and the UK. These countries collectively account for over 35% of the global market value. This can be associated with the advanced healthcare systems, widespread diagnostic facilities, and growing focus on elderly care. Besides, the presence of several leading pharmaceutical companies involved in Lewy body dementia drug development and research also contributes to the dominant

What Are The Key Data Covered In This Lewy body dementia therapeuticsMarket Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Lewy body dementia therapeuticsgrowth between 2024 and 2031.

:- Accurate calculation of the size of the Lewy body dementia therapeuticsand its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Lewy body dementia therapeuticsIndustry 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 Lewy body dementia therapeuticsvendors

FAQ’s

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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it