Dementia Care Products Market Segmentation By Product Type (Personal Safety Products, Daily Reminder Products, Memory Exercise & Activity Products, Dining Aids, Bathroom Safety Products and Communication Products); By End-User (Long Term Care Centers and Home Care Settings) - Global Demand Analysis & Opportunity Outlook 2027
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In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
The dementia constitutes symptoms such as memory loss, difficulty in problem solving. It is a disease related to brain and decreases thinking ability. The common type of dementia is Alzheimer's disease which constitutes around 65% of the total cases of dementia. Most of dementia problems are slow and progressive. Various products are designed in order to tackle the dementia. Wide range of products such as such as daily reminder products, communication aided products, personal safety products and memory exercise products are available in the market in order to tackle the dementia. The market for the dementia care products is anticipated to witness remarkable growth on the account of high availability of various dementia care products and continuous innovations done by the various key players operating in the dementia care products market worldwide.
The global dementia care products market is anticipated to expand at a significant CAGR during 2017-2027. It is projected to reach significant market size by 2027. The dementia care products are anticipated to witness robust growth on the account of availability of various types of dementia care products. Additionally, development of new dementia care products is also expected to cater to the evolving and unmet demand of the customers and indirectly supports the market growth of the dementia care products worldwide.
The global dementia care products market can be segmented on the basis of product type and end-user. On the basis of product type it is segmented into personal safety products, daily reminder products, memory exercise & activity products, dining aids, bathroom safety products and communication products. , Memory exercise & activity product is the leading sub-segment in the product type segment of the global dementia care products market. Memory exercise & activity products are primarily used in the treatment for the dementia. It enhances the memory and also helps in controlling the activity of the body.
By region, global dementia care products market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to be the leading region for the dementia care products on the account of numerous suppliers in the region coupled with the high availability of the products. However, Asia-Pacific is anticipated to be fastest growing region on the back of increasing population coupled with the growing awareness regarding the healthcare products.
Our in-depth analysis segmented the global dementia care products market in the following segments:
Global dementia care products market is further classified on the basis of region as follows:
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The increasing number of the dementia patients across the globe is anticipated to enhance the demand for dementia care products. The increasing number of dementia patients across the globe is providing opportunity for the companies operating in the dementia care products to increase their product offerings worldwide. The cost effectiveness and improved utilization of products across the globe is anticipated to create enhanced sales opportunities. The adoption of advanced healthcare products is anticipated to increase the demand for the dementia care products. For instance, according to world Alzheimer report in 2015 more than 9.9 million new patients are registered worldwide which is creating huge consumer base for the dementia care products. Additionally, rising geriatric population is also expected to enhance the number of dementia care patients. It will provide opportunity for the key players to establish themselves in the market. Moreover, the increasing online sale is also anticipated to improve the market growth of the dementia care products.
However, various remote areas across the globe have less access to healthcare facilities and the high cost associated with the various types of dementia care products is expected to hinder the market growth of the dementia care products worldwide.
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