Ailments related to brain are considered the most complex and toughest to treat. One step ahead on this road of complexity is the human knowledge about a number of neurodegenerative diseases. Successful management of neurodegenerative diseases such as dementia, which is a group chronic or persistent mental disorders and is marked by a progressive decline in the intellectual functioning, personality changes, impaired reasoning, and memory disorders in patients, is one of the biggest challenges before the medical community today.
What makes the task of managing such neurodegenerative diseases tough is the fact that there are currently no or very few effective therapies available for curing them. The precise cause of dementia is still unknown and the reasons behind the many crucial aspects of dementia, such as how the loss of neurons and dysfunctional neural signaling translates into disabilities such as movement disorder or how mind-body co-ordination is altered in neurodegenerative diseases are unclear even after the several years of research.
Rising Prevalence of Dementia and Movement Disorders Spurs Research Activities
The global market for the treatment for syndromes of dementia and movement disorders focuses on developing medications and other treatment solutions for curing dementia and related neurodegenerative diseases. The market is witnessing significant growth owing to the rising prevalence of neurodegenerative diseases across the globe and the several international initiatives aimed at developing technologies to understand and initiate treatments for neurodegenerative diseases; gaining improved understanding in the fields of consciousness and perception; and improving the knowledge of how brain’s neurons work in complex interconnected networks.
The global market for the treatment for syndromes of dementia and movement disorders, which had a valuation of US$12,859.8 mn in 2014, is projected to expand at a healthy 8.6% CAGR between 2014 and 2020 and reach US$21,154.8 mn by 2020 (market research report by Persistence Market Research).
The market for treatment of Alzheimer’s disease, one of the most prevalent kinds of dementia across the globe, is expected to rise from a valuation of US$4,755.2 mn in 2014 to US$8,208.2 mn in 2020, by expanding at a 9.5% CAGR over the period.
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The Brain Activity Map Initiative
The sheer specter of neurodegenerative diseases and its rising expanse is a key factor driving many multibillion dollars-worth and multiyear long research efforts such as the Brain Activity Map initiatives in the past years. The highly ambitious research initiative is funded by the U.S. government and is projected to cost over US$3 bn every year for over a decade. The project has been touted to be a new school of thought on the working of brain in biological terms and bases its insights on past works in the fields of neurobiology and cognitive sciences.
The expansive nature of the Brain Activity Map Initiative might remind one of the highly popularized Human Genome Project, however, it is not going to be as straightforward as the latter. It is also very unclear of what can be actually achieved because of the inherently complex nature of brain and mind.
It can be said, thus, that the future growth of the global market for the treatment for syndromes of dementia and movement disorders is largely dependent on investments and success of research activities.