The Cognitive Decline Market to scintillate based on digitization

Growing prevalence of cognitive decline is one of the key factors driving the growth of cognitive decline market. According to the Centers of Disease Control & Prevention (CDC) report published in February 2019, the prevalence of cognitive decline is 11.1% in the U.S. Also, diseases such as Alzheimer’s and Parkinson’s also tend to show cognitive decline.

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Cognitive impairment mostly affects elder people above 65 years of age, thus rise in geriatric population is yet another important factor for the growth of cognitive decline market. According to the WHO statistics of Aging and Health, reported in October 2021, it was estimated that between the years 2015 and 2050, the proportion of geriatric population worldwide would be nearly doubled ranging from 12% to 22% by 2050.

Additionally, the increasing adoption of telemedicine, which involves video conferencing to help caregivers coordinate with patients, is driving its adoption and is likely to support the growth of the global market for cognitive decline market.

Currently, no cure has been developed to treat the cognitive decline caused by Alzheimer’s disease, which provides a lucrative opportunity for the market growth. However, Medications approved for the treatment of Alzheimer’s disease have shown very little to no benefit in treating cognitive impairment and therefore may hamper the growth of the cognitive decline treatment market.

For instance, In September 2021, Apple announced that they are collaborating with the University of California, Los Angeles (UCLA) and Biogen, a leading organization specializing in Neuroscience to work on new biometric capabilities in their iPhones which can be used in detecting depression and symptoms of cognitive decline in patients via expression recognition and behavioral biometrics techniques.

This novel technology will help the researchers not only monitor the biometric information of the patients but also help them pin down exact digital signals associated with depression and cognitive decline, in turn helping them to create reliable algorithms for disease detection. The technology is developmental phase, but once it get approved for commercialization, it will provide advantages to both physicians and patients.

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For instance, in the statistics published by Centers for Disease Control and Prevention about Alzheimer’s disease and Healthy Aging, it was stated that the prevalence of cognitive decline amongst adults aged 65 years or more is 11.7%. There are increased R&D activities in the cognitive decline industry resulting in increased growth of the market in the forecast period.

• McNeil Pharmaceuticals
• Janssen Pharmaceuticals Inc.
• Strides Pharma
• Omega Laboratories Ltd
• Fresenius Kabi
• Apotex Corporation
• Teva Pharmaceuticals
• Method Pharmaceuticals LLC
• Actavis Pharma Company
• Pfizer LLC
• Sivem Pharmaceuticals Ulc
• Hikma Pharmaceuticals USA Inc.
• Baxter Laboratories
• Biogen
• Eisai
• Nucare Pharmaceuticals Inc.

In September 2021, Eisai and Biogen filed for speedy FDA review of their joint venture drug lecanemab, an Alzheimer’s disease drug. This drug targets amyloid protein that builds up in the brain of Alzheimer’s patients. The drug is being developed for patients suffering from early stages of Alzheimer’s disease. The clinical trials show promising results.

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Key Segments

By Disease Type

• Mild Cognitive Decline
• Dementia
  • Dementia with Lewy bodies
  • Vascular dementia
  • Frontotemporal dementia

By Drug Class

• Antiepileptic Drugs
• Antipsychotic Drugs

By Type of Therapy:

• Symptomatic therapies
  • Cholinesterase Inhibitors
  • Nootropics
  • Ginkgo Biloba
  • Memory Stimulants
• Preventive Therapies
  • Anti-oxidants
  • Omega fatty acids
  • Homocysteine
  • Estrogen
  • Anti-inflammatory agents
  • Anti-amyloid agents
  • Statins

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Drug Stores
• Mail Order Pharmacies
• Online Stores

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• MEA