The mild cognitive impairment market will be worth USD 2.96 billion by 2030, recording a CAGR of 5.30% between 2022 and 2030, says Market Research Future (MRFR).
Primary Boosters and Restraints
A few elderly people can face thinking or memory problems compared to other people their age. This is known as mild cognitive impairment (MCI). There is one cause of the condition. There is a higher risk of the condition developing as someone ages. Conditions like depression, stroke and diabetes can elevate the person’s risk for mild cognitive impairment. People dealing with severe mental illnesses are now more engaged in their rehabilitation and treatment. Education and knowledge about mental illnesses and their treatment alternatives are now a fundamental requirement in order to deal with any obstacles in a way that can facilitate recovery.
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Patients who remain abridge of all their treatment options and participate actively in the treatment process will be able to better manage their condition. Surging awareness with regard to the symptoms associated with mild cognitive impairment among people will translate into healthy growth for the market. Accurate information regarding the condition and its treatment plan can help fasten the recovery, and a greater number of patients are now trying to do the same. This should be favorable for the worldwide market in the long run.
Moreover, digital health technologies, such as web-based therapies, and application-based platforms are transforming the mild cognitive impairment market. These technologies are increasingly being used since they are cost-effective and provide effective health interventions to the public. Digital health technology, coupled with face-to-face consultations as well as treatments, can restructure the entire healthcare system, for the best.
Market Segmentation
Amnestic MCI, and Non-Amnestic MCI are the disease types covered in the report.
Adult, geriatric and Child are the age-based segments discussed in the report. The geriatric segment has grabbed the highest share in the worldwide market owing to the rising number of vulnerable elderly people prone to dementia and more.
Parkinson's Disease Dementia, Lewy Body Dementia, Vascular Dementia, Alzheimer’s Disease Dementia and others are the top indication-wise segments listed in the study. Alzheimer’s Disease Dementia segment took the lead in the global industry in 2021, thanks to the soaring number of individuals affected by the condition across the globe.
Therapy, and medication are the key treatment types in the market.
Regional Outlook.
In the United States, over 18 million individuals are currently dealing with mild cognitive impairment. Alzheimer's disease, a type of cognitive impairment, is affecting more than 6.6 million Americans over the age of 65 as of now; with the number expected to shoot up to 14.7 million by 2050. This significant prevalence of the condition will bolster the need for mild cognitive impairment drugs and treatment options in the region.
Moreover, the renowned industry participants in the region are constantly focused on implementing strategies that could help them foster their positions and also benefit the market. The strong trend of digital healthcare in the region will favor the market as well. Gamification has become one of the most popular concepts in the digital health field in the US. This concept offers a variety of game elements to the patient in a non-game environment to give them respite from their daily schedules, providing them with cognitive and motivational advantages.
Top Companies
Pfizer Inc. (US), Hoffman La Roche Ltd (Switzerland), Novartis AG (Switzerland), Accord UK Ltd (UK), Reddy’s laboratories Ltd (India), Hikma Pharmaceuticals PLC (UK), Sun Pharmaceuticals ltd (India), Johnson Johnson Services, Inc. (US), Teva Pharmaceutical Industries Ltd., (Israel), Takeda Pharmaceutical Company Limited (US) are the most affluent participants of the worldwide market.
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