Dementia Care Products Market exhibiting CAGR of 6.7% from 2023 to 2032, owing to the Rising prevalence of neurodegenerative disorders | insightSLICE
The global Dementia Care Products market size was estimated to be US$ 25 million in 2021 and is expected grow at a CAGR of 6.7% between 2023 to 2032.
Disturbing effects on memory as well as negative impacts on the cognitive abilities which also impacts the daily activities are usually caused by Alzeheimer’s disease or dementia.
As the disease slowly progresses, there is also an increase in patient assistance needs. Various dementia care products and aids are designed for patients living with this disease to make their life easier.
Products listed for dementia care category include memory exercise and activity products, daily reminder products, bathroom safety products, dining aids, communication products, special clothing and personal safety products.
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The key players of the Global Dementia Care Products Market are:
Parentgiving Inc, EasierLiving LLC, Find Memory Care, Healthcare Products LLC, Best Alzheimer’s Products, NRS Healthcare, Buddi Ltd and others.
Driving factors for the growth of Global Dementia Care Products Market
These products assist families and care givers to perform routine activities to benefit the patients. Several pioneering products such as 24 hours monitoring bands are enabling dementia patients and other memory loss patients to live safely and independently.
There has been an increase in support from various government organizations in this sector to propel the market growth for dementia care products over the forecast period. As the consumers get better choices and offerings, the market for dementia care products will continue to grow.
Rising prevalence of neurodegenerative disorders
There is a demand for early detection and diagnosis for dementia patients. Advent of new technology has propelled the global dementia care products market.
Due to the rising availability of various treatment options and greater research on identifying newer and targeted therapies for novel targets, the treatment options for dementia patients should increase and therefore growing the global market.
The growing geriatric population
According to the World Health Organization (WHO), the worldwide geriatric population, which was estimated to be over 524 million in 2010, is expected to increase to nearly 2 billion by 2050. As the persons age increases, the occurrence of dementia and neuro degenerative disorders also increases.
This is because at old age the immune system of the patient is compromised which can delay the effects of the drugs on the nervous system. Also the modernization in the healthcare industry will fuel this market growth for the forecasted period.
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Global Dementia Care Products Market Key Segments:
By Product Type
- Memory Exercise & Activity Products
- Daily Reminder Products
- Bathroom Safety Products
- Dining Aids
- Communication Products
- Personal Safety Products
- Other Dementia Care Products
By End User
- Products for Home Care Settings
- Products for Long-term Care Centers
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- South America
- Brazil
- Rest of South America
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Challenges of Global Dementia Care Products Market
High cost of treatment
Due to the high costs of dementia care monitoring devices, the accessibility to patients in developing countries is greatly reduced. These devices are currently out of reach for patients from lower socio-economic backgrounds.
Furthermore, dementia monitoring is a complicated operation that requires very qualified and skilled medical professionals since it is an intrusive procedure that can require surgery at times. Therefore, the lack of trained medical professionals restrains market growth in this market.
Adverse side effects of drugs
Many drugs previously introduced for dementia care have shown multiple adverse side effects and therefore have been not approved by the regulators. Such setbacks for the drug manufacturers will further challenge the growth of the dementia care products market.
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