Dementia Care Products Market to Garner Brimming Revenues by 2027
Alzheimer’s disease or dementia have disturbing effects on memory as well as cognitive function of a person and negatively impact the daily activities of a person. With the progress of disease, there is also an increase in patient assistance. Dementia care products are the aids designed for the patients suffering from symptoms of dementia to make their life easier.
A range of products are available in the dementia care product category such as memory exercise & activity products, daily reminder products, bathroom safety products, dining aids, communication products, personal safety products, special clothing etc.
These products benefits the patients in performing routine activities with ease and thus assists their families and carers. There are plenty of pioneering products in the market today which enable dementia patients or other forms of memory loss patients to live safely and independently such as 24 hrs monitoring bands and others. The increasing support from various government as well as private organization supports the market growth for Dementia care products over the forecast period.
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The market for dementia care products is growing all the time with better choice and availability offerings, as new innovations seek to help manage and ease life with the condition and help care providers offer easier support and assistance in maintaining a good quality of life for the patient.
Dementia Care Products Market: Drivers & Restraints
Rising geriatric population as well as number of dementia patient pool drives the whole market for dementia care products. Along with this, increasing number of manufacturers and distributors for dementia care products also fuels the market growth. Increasing online sales trend also facilitates the market growth over the forecast period as this increases the product accessibility to different geographies. Limitation of product accessibility and affordability in various remote areas restraint the market growth for dementia care products. High costs associated with the product range also limits the consumer base growth and however curbs the market.
Dementia Care Products Market: Overview
Rising number of dementia cases over the globe generates the market opportunity for dementia care products. According to World Alzheimer Report 2015, more than 10 million new cases of dementia occur each year worldwide which implies huge consumer base worldwide for these dementia care products. Prevalence pool of patients suffering from dementia is quite high in low or middle income countries as compared to the high income countries provides a huge market opportunity companies to expand their product supplies over these regions.
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Cost effective and high utility products are highly favorable and generates strong product sales for the company. Adoption trend for healthcare products and services are likely to improve the market for dementia care products too.
Dementia Care Products Market: Region-wise Outlook
Geographically, North America is the leading consumer driven market for dementia care products because of the large number of product suppliers in the region as well as product affordability in the region. This is followed by Western Europe region due to high disposable income as well as consumption trend for the healthcare associated products. Asia Pacific market is the fastest growing market globally because of rising incidence rates of dementia patients in the region and growing awareness for these utility products.
Latin America region also shows significant growth rate over the years with the increasing healthcare expenditure. MEA represents the lowest market share as well as growth rate for dementia care products market because of less adoption rate as well as weak distribution channel over the region.
Dementia Care Products Market Treatment Market: Key Players
There are large number of manufacturers and distributors for dementia care products which also vary from region to region. Some of the players in the dementia care products market includes Parentgiving, Inc., EasierLiving, LLC, Find memory care, Healthcare products LLC., Best Alzheimer’s Products, NRS Healthcare, Buddi Ltd. etc.
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