Market Dynamics: The anticipated trajectory for the global delirium treatment market suggests a steady rise in revenue over the forecast period. This growth is primarily fueled by the increasing incidence of neurological disorders and the expanding aging population, leading to a larger patient pool. However, challenges such as the limited availability of specific treatments and alternative therapeutic options beyond medication may impede market growth.
Delirium, characterized by confused thinking and diminished environmental awareness, can result from various factors including severe illness, metabolic imbalances, medication, infection, surgery, or substance abuse.
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Factors Supporting Market Growth:
Drivers: Numerous factors contribute to the revenue growth of the delirium market. The projected period from 2022 to 2029 is expected to witness revenue enhancement due to the growing elderly population globally. According to the World Health Organization (WHO), the global geriatric population, which surpassed 524 million in 2010, is projected to reach approximately 2 billion by 2050. Additionally, increased awareness about mental health through initiatives like the National Mental Health Program and Mental Health America contributes to market growth. Furthermore, the market benefits from increased clinical trials by pharmaceutical companies and a rising demand for specific treatments addressing delirium complications. The surge in delirium cases among ICU patients during the forecast period is also anticipated to bolster revenue growth, particularly in hospital pharmacies. Moreover, the COVID-19 pandemic has significantly impacted mental health, further driving market growth.
Restraints: Factors hindering market growth include ineffective and incomplete delirium treatment. The lack of non-pharmacological therapy options poses a significant challenge. Treatment costs also restrain revenue growth, as delirium management often incurs substantial expenses. While non-pharmacological therapies are available, declining medication usage poses a challenge. Additionally, variable patient responses to pharmacological therapy, with many exhibiting poor or partial responses, increase the risk of disease recurrence and hinder market growth. Long-term use of drugs such as antipsychotics and pain relievers can lead to severe side effects, further impacting revenue growth.
Opportunities: Efforts in research and development (R&D) aim to investigate the safety and efficacy of medications for delirium treatment in critically ill ICU patients. Market players are introducing new first-generation antipsychotic medications, expected to drive market revenue growth. Increasing R&D activities for symptomatic and targeted delirium treatment also support market growth. Addressing the lack of awareness about the disease presents an opportunity to educate healthcare professionals and individuals, potentially leading to the development of more effective medications and sustaining market growth.
Geographic Market Scenario:
Largest Market Share: North America is poised to capture the largest revenue share during the forecast period, driven by the introduction of new treatment options and increasing mental health disorders, including a rise in suicidal ideation. Heightened awareness during the COVID-19 pandemic, coupled with increased healthcare spending and treatment accessibility, further supports market growth in the region.
Fastest Growing Region: Asia Pacific is expected to experience significant revenue growth, attributed to the increasing geriatric population in countries like China and India. The presence of generic manufacturers and healthcare infrastructure expansion also contribute to market growth in the region.
Key Market Trends and Innovations: Research from the University of California, San Diego, highlights the role of sleep deprivation in post-surgery delirium, with clinical trials investigating Ramelteon's efficacy in improving sleep quality. Additionally, collaborations between IBM and the University of California researchers demonstrate the potential of artificial intelligence in mental health diagnosis.
Organic and Inorganic Strategies Adopted: Companies like Aurobindo Pharma and Dr. Reddy's Laboratories have received FDA clearance for manufacturing and commercializing medications for delirium treatment. Similarly, ALKERMES plc's LYBALVI approval for schizophrenia and bipolar disorder treatment showcases market innovation.
Major Companies in the Market: Key players in the delirium treatment market include Dr. Franz Kohler Chemie GmbH, Gala BioPharma Ltd., Teva Pharmaceuticals, Mylan N.V., Pfizer Inc., Regenstrief Institute Inc., Novartis AG, Otsuka Pharmaceutical Co., Ltd., Bristol-Myers Squibb, Fraser Health, and Zydus Cadila.
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