The Australian Fronto Temporal Dementia Therapeutics Market size stood at around USD XX billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.
Frontotemporal Dementia (FTD) is the name given to dementia when it is due to progressive damage to the frontal and/or temporal lobes of the brain. The right and left frontal lobes at the front of the brain are involved in mood, social behaviour, attention, judgement, planning and self-control. Damage can lead to reduced intellectual abilities and changes in personality, emotion and behaviour. The right and left temporal lobes at the two sides of the brain are involved in processing what we hear and understanding what we hear and see. Damage may lead to difficulty recognising objects or understanding or expressing language.
Frontotemporal Dementia is an umbrella term used to describe a group of younger onset neurodegenerative conditions with a typical onset between the ages of 45 and 65 years. A small proportion of people with FTD, experience symptom onset at 70 years of age or older, whilst another minority may experience very early symptom onset, with the youngest documented onset occurring at 21 years of age. Between 3,500 and 11,500 Australians are currently estimated to be affected by Frontotemporal Dementia.
Certain factors that are driving the market growth include growing prevalence of dementia and other frontotemporal disorders, increasing drug development grants and funding by government as well as non-government organisations. Increasing prevalence of target disease and growing geriatric population suffering from these diseases are expected to promote the growth of the market.
However, rising treatment costs and a lack of awareness among patients and physicians about Frontotemporal Dementia are among the major factors acting as restraints.