Dementia Drugs Market - Skyrockting Growth with
Dementia is one of the most common age-related medical conditions. As
we age, mental processes and memory become affected by changes in
the brain, resulting in problems with memory, attention, mood, and
behavior. Dementia can occur in anyone, although it is more common in
elderly adults and people suffering from other mental disorders such as
depression, bipolar disorder, schizophrenia, obsessive-compulsive
disorder, and post-traumatic stress disorder.
High prevalence of dementia is expected to propel growth of the
dementia drugs market. For instance, according to Alzheimer’s
Association, around 5.8 million people in the U.S. aged 65 and older are
living with Alzheimer's dementia in 2020. Moreover, increasing geriatric
population is also expected to aid in growth of the market. For instance,
according to the U.S. Census Bureau, the U.S. geriatric population is
expected to reach 77 million by 2034.
R&D of new drugs is expected to offer lucrative growth opportunities for
players in the dementia drugs market. For instance, in September 2020,
researchers from Garvan Institute of Medical Research in New South
Wales, Australia, reported that metformin, a common type 2 diabetes
drug, may be effective in reducing the risk of dementia in individuals with
type 2 diabetes.
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