Global Memory Disorders Market, By Types (Dementia, Amnesia, Others), Medication (Drugs, Physical Therapy, Psychotherapy, Others), By Route of Administration (Oral, Parenteral, Others), By End-Users (Hospitals, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Others) - Industry Trends and Forecast to 2029
Global Memory Disorders Market Analysis and Insights
The market is expected to experience tremendous growth within the forecast period as there will be an increased in prevalence of the memory associated diseases, which generally affects millions of people around the world, though it is more common in the elderly. Moreover, the market is expected to show a negative growth within the forecast period due to the effects of restrictions caused by sudden outbreak of COVID-19.
- Data Bridge Market Research analyses that the memory disorders market will grow at a CAGR of 7.90% during the forecast period of 2022 to 2029. The “dementia” accounts for the largest type segment in the memory disorders market within the forecasted period.
Global Memory Disorders Market Definition
Memory disorders are a condition in which the brain's neuroanatomical structure is damaged as a result of difficulties with memory storage, retrieval, and retention. Depending on the type of disease, memory disorders can be mild, moderate, or severe.
Memory Disorders Market Dynamics
- Growing Cases of Memory Disorders
The rise in prevalence of neurological and memory-related disorders will result in the expansion of the growth rate of the treatment market.
Moreover, the adoption of unhealthy lifestyle and stressful environment that increases the risk of evolving mental health disorders are also the growth determinants which bolster the growth of the market. Also, the availability of the treatment will further enhance the growth of memory disorders market.
Furthermore, the rising initiatives to spread awareness regarding the memory related disease and the benefits offered by cognitive drugs such as improved memory and reasoning are the factors that will expand the memory disorders market. The cost effective drugs can consider one of the progressive factors which will positively impact the memory disorders market's growth rate.
Moreover, the introduction of new and innovative technologies and drugs will boost new opportunities for the market's growth rate. Also, the increased government funding and awareness programs and developments in healthcare technology will escalate the growth rate memory disorders market in future.
Restraints/Challenges Global Memory Disorders Market
However, due to the wideness of memory disorder class and ethical issues related to the use of its drugs will impede the growth rate of memory disorders market. Additionally, the stringent FDA guideline for the approval for the treatment is projected to hamper the growth of the market growth.
This memory disorders market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on memory disorders market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
The memory disorders are basically the mental illnesses that affect one's ability to think, remember, make decisions, and communicate. According to research, there were over 850,000 dementia patients in the UK in 2019. At the current rate of prevalence, there will be over 1.5 million people in the UK with dementia by 2040.
Memory disorders market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analyzed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
COVID-19 Impact on Memory Disorders Market
Healthcare and pharmaceutical industries were heavily impacted by the COVID-19. The memory disorders market was however affected negatively by the sudden emergence of the COVID-19 which caused restrictive containment measures such as social distancing, remote working, and the closure of industries and other commercial activities, all of which have created operational challenges. The implementation of strict lockdowns and isolation regulations across the globe further complicated the disease management and medication adherence and even further caused delays in the import and export of drugs and medicines for the memory disorders as the entire supply chain has been disrupted, which has had a negative impact on the market. Moreover, the COVID-19 pandemic is expected to harm the new product launches, thus further hampering the overall growth opportunities for the market.
- In Oct 2020, Third Dementia Innovation Readiness Index was launched in 30 global cities by Alzheimer's disease International, the Global Coalition on Aging (GCOA), and the Lien Foundation.
- In Jan 2021, The LSP Dementia Fund, a fund dedicated to fighting neurodegenerative diseases, was launched in Amsterdam by LSP, Europe's leading life sciences investor, and Professor Philip Scheltens, a world-renowned dementia scientist.
Global Memory Disorders Market Scope
The memory disorders market is segmented on the basis of type, medication, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of type, memory disorders market is segmented into dementia, amnesia and others. Dementia is further divided into dementia with lewy bodies, frontotemporal dementia, HIV dementia, vascular dementia, Alzheimer's disease, mild cognitive impairment, normal pressure hydrocephalus and others. Amnesia is further divided into transient global amnesia, Korsakoff syndrome and others. Dementia is expected to show significant growth due to the high prevalence of this disorder across the globe.
- Physical Therapy
On the basis of medication, memory disorders market is segmented into drugs, physical therapy, psychotherapy and others.
Route of Administration
On the basis of route of administration, the memory disorders market is segmented into oral, parenteral and others.
- Specialty Clinics
On the basis of end-users, the memory disorders market is segmented into hospitals, specialty clinics and others.
- Hospital Pharmacy
- Retail Pharmacy
On the basis of distribution channel, the memory disorders market is segmented into hospital pharmacy, retail pharmacy and others.
Memory Disorders Market Regional Analysis/Insights
The memory disorders market is analyzed and market size insights and trends are provided by country, type, medication, route of administration, end-users and distribution channel as referenced above.
The countries covered in the memory disorders market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the memory disorders market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the increase burden of memory disorder, high research and development and healthcare expenditure and availability of drugs in the market may increase the memory disorders treatment market in this region.
Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period due to the increase in economic value, advancement of technology and rising demand of treatment medication in the region.
The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Memory Disorders Market Share Analysis
The memory disorders market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to memory disorders market.
Some of the major players operating in the memory disorders market are Novartis AG, AstraZeneca, Bristol-Myers Squibb Company, AbbVie Inc., Eli Lilly and Company, Pfizer Inc., VTV Therapeutics, H. Lundbeck A/S, TauRx Pharmaceuticals Ltd, DAIICHI SANKYO COMPANY LIMITED, GlaxoSmithKline Plc, Merck & Co Inc., Echo Pharma, Teva Pharmaceuticals Industries Ltd., Takeda Pharmaceutical Company Limited, Bayer AG, Biogen, WOCKHARDT BIO AG., Dr. Reddy’s Laboratories Ltd., Sun Pharmaceuticals Industries Ltd., Allergan, and Mylan N.V., among others.
Research Methodology : Global Memory Disorders Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-memory-disorders-market