Global Lewy Body Dementia Treatment Market Will Reach USD 5.31 Billion By 2027
The global Lewy body dementia treatment market size is predicted to reach USD 5.31 billion by 2027 according to a new study by Polaris Market Research.
Lewy body dementia is a progressive disorder associated with dysfunction of the central nervous system and characterized by deposits of alpha-synuclein, a protein in the brain. The unusual deposits in the brain formed Lewy bodies, which can lead to several problems with body movement, thinking, mood, and behavior. Lewy body dementia is the most common disease after Alzheimer’s which is rapidly growing and subsequently foster global market growth. Recent developments include the new launches and clinical studies such as LY3154207, ABBV-0805, etc. The launches of drugs are associated with the diagnosis of dementia with Lewy body, Parkinson’s, and Alzheimer’s diseases which further leads to drive the growth of the global market.
The prominent factors favoring the global market growth include the rising initiatives by the legal and regulatory authorities to develop an effective and safe treatment for the LBD disorder in patients. For instance, in October 2019, an LBD Association Research Center of Excellence, Georgetown University Medical Center, has taken the initiative to offer 3 clinical trials to devise new methods and treatments for Lewy body dementia and Alzheimer’s disease.
Rising incidences of getting affected by Alzheimer’s disease and related disorders including vascular dementia, Lewy body dementia, frontotemporal degeneration, and Parkinson’s disease has witnessed the surge in demand for the treatment of the patients. The regulatory authorities and researchers are engaged in discovering new methods and solutions to provide effective treatment of the disorder.
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For instance, in June 2020, The Harry T. Mangurian, Jr. Foundation and Florida Atlantic University’s Schmidt College of Medicine have amalgamated their forces to discover and research medicine to prevent dementia. The grant of USD 3 million will allow FAU’s Schmidt College of Medicine to establish a new FAU Center for Brain Health. Furthermore, in July 2020, the Journal of the American Medical Association (JAMA) has published that researchers have formed a new p-tau217 blood test, which is proved to hold remarkable results in the diagnosis of Alzheimer’s disease and related disorders in the patients.
Additionally, the rising prevalence of the progressive diseases of dementia has raised the need for effective treatment to treat the disease and prevent risk in the patients which further leads to drive growth. The growing awareness of the symptoms of the disease and the advancement in healthcare technology to develop new methods and drugs for the treatment of patients is likely to surge the market growth.
Market participants such as Mallinckrodt Pharmaceuticals, BioArctic AB, Bausch Health Companies Inc., Sumitomo Dainippon Pharma Co., Ltd., Janssen Pharmaceuticals, Inc., Jazz Pharmaceuticals, Inc., Allergan Plc., Noven Pharmaceuticals, Inc., Takeda Pharmaceutical Company Ltd., Eli Lilly and Company, Eisai Co., Ltd., Novartis AG, GlaxoSmithKline, Pfizer Inc., Teva Pharmaceuticals, Bayer AG, Sanofi AG, and Mylan NV are some of the key players operating in the industry.
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Players in the industry are focusing on developing new methods and drugs for LBD, new launches, increasing expansions, collaborations, and partnerships to enhance their market and revenue share. For instance, in August 2020, Proteostasis Therapeutics, Inc. and Yumanity Therapeutics entered into a definitive merger agreement, and after combining they operate under the name Yumanity Therapeutics, Inc. The merger leads to enhance Yumanity’s pipeline of innovative, disease-modifying methods and solutions for neurological disorders.
Polaris Market Research has segmented the Lewy Body Dementia Treatment market report on the basis of drug type, indication, distribution channel, and region
Lewy Body Dementia Treatment Market By Drug Type (Revenue – USD Million, 2016 – 2027)
- Cholinesterase Inhibitors
- Antipsychotic Drugs
Lewy Body Dementia Treatment Market By Indication (Revenue – USD Million, 2016 – 2027)
- Parkinson’s Disease
- Dementia with Lewy Bodies (DLB)
Lewy Body Dementia Treatment Market By Distribution Channel (Revenue – USD Million, 2016 – 2027)
- Drug Stores
- Hospitals Pharmacies
- Online Pharmacies
- Retail Pharmacies
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