The global Lewy body dementia therapeutics market is one of the emerging areas in central nervous system disorders treatment owing to lack of approved drug therapies. Lewy body dementia (LBD) is the second most common type of progressive dementia after Alzheimer's disease. It is characterized by abnormal protein deposits known as Lewy bodies that develop in nerve cells in areas of the brain that control movement, thinking, and behavioral symptoms. Common symptoms of LBD include visual hallucinations, parkinsonian movement features like stiffness and slowness of movement, fluctuating cognition with alertness and attention, and rapid eye movement sleep behavior disorder. With increasing prevalence of dementia worldwide, the need for Lewy Body Dementia Market is growing significantly.
The Global Lewy Body Dementia 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 players operating in the Lewy body dementia therapeutics market are Novartis, GlaxoSmithKline, Merck & Co., Anthropic, Eisai Co., and Biogen.
Key Takeaways
Key players: Novartis, GlaxoSmithKline, and Merck & Co. are currently leading pharmaceutical companies focused on Lewy body dementia drug development. Novartis’ drug pimavanserin is the only FDA approved treatment but has limited efficacy. Several companies are conducting clinical trials for new molecular entities and disease-modifying therapies.
Growing demand: With increasing prevalence of Lewy body dementia worldwide, the demand for effective treatment options is rising rapidly. According to Alzheimer’s Disease International, over 1.4 million people suffer from LBD globally indicating huge market potential.
Technological advancements: Researchers are exploring innovative targets like alpha-synuclein aggregation, neuroinflammation, mitochondria dysfunction for new therapies. Biomarkers and diagnostic techniques are improving to enable early detection and disease monitoring aiding drug development. Positron emission tomography imaging using novel radiotracers show promise.
Market Trends
Focus on disease-modifying therapies: Major players are investing in phase 2/3 trials of drugs with potential to slow or stop neurodegeneration in LBD like anle138b, davunetide, and nilotinib. This shift from symptom management to modifying disease course will be a key trend.
Personalized medicine approaches: With understanding of genetic and molecular underpinnings of LBD increasing, targeted therapies tailored to individual patient biology are in development. This personalized approach may improve treatment outcomes.
Market Opportunities
Alpha-synuclein aggregation inhibitors: Drugs preventing toxic aggregation of alpha-synuclein protein in Lewy bodies offer hope as disease-modifying agents. Several molecular targets and compounds are under active investigation providing significant market opportunities.
Digital health solutions: Remote patient monitoring devices, mobile apps, and digital platforms to track symptoms, medication adherence, and support caregivers during COVID-19 are new areas of focus and investment for players. This will augment conventional treatment models.
Impact of COVID-19 on Lewy Body Dementia Market Growth
The COVID-19 pandemic has adversely impacted the growth of the global Lewy body dementia market. Due to lockdowns enforced worldwide to curb the spread of the virus, clinical trials and research activities related to Lewy body dementia came to a halt. Hospitals turned their focus towards treatment of COVID-19 patients which led to disruptions in diagnosis and care of Lewy body dementia patients. Social distancing norms and fear of infection also prevented patients from visiting healthcare facilities even for routine checkups. This negatively affected early detection and management of the condition.
However, post-pandemic it is expected that the market will witness steady growth as research resumes and new treatment options are explored. Pharmaceutical companies are investing in drug development programs for effective management of symptoms. Several clinical trials evaluating disease-modifying therapies are in the pipeline which will boost the market once they progress further. Healthcare providers are focusing on teleconsultations and online support groups to continue care and address concerns of patients during such times. Governments are also supporting awareness campaigns to educate people about Lewy body dementia symptoms.
Geographical Regions with High Market Value
North America dominates the global Lewy body dementia market in terms of value, owing to rising prevalence, growing geriatric population, availability of advanced treatment options and favorable reimbursement policies in countries like the US and copyright. Funded by the National Institute of Aging, extensive research is being conducted to understand disease pathology and develop innovative therapies. Several biopharma companies have their headquarters in the region accelerating drug discovery programs.
Fastest Growing Regional Market
The Lewy body dementia market in Asia Pacific region is projected to expand at the fastest pace during the forecast period. This can be attributed to increasing healthcare spending, large consumer base due to aging demographic, growing medical tourism industry and expansion of key market players in emerging countries like China and India. Governments are undertaking various initiatives for raising awareness, diagnosis and care of neurodegenerative disorders. Moreover, availability of low-cost treatment alternatives is luring patients from other regions towards the Asia Pacific market.
Get more insights on : Lewy Body Dementia Market
Check out related topics for more valuable information - Pharmaceutical and Life Sciences Real World Evidence: Poised for Significant Growth
Author Bio:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)