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The global population has been experiencing a demographic shift with a growing number of elderly individuals. As the aging population base expands, there is an increasing prevalence of age-related diseases and conditions, such as cancer, neurodegenerative disorders, and cardiovascular diseases. For instances, according to the World Health Organization (WHO), approximately one billion people worldwide are affected by neurological disorders, with 50 million suffering from epilepsy and 24 million from Alzheimer's disease, and other dementias. Neurological disorders impact individuals in all countries, regardless of age or sex.
Furthermore, as per the World Health Organization (WHO), by the year 2030, one out of every six people in the world will be aged 60 years or older. Thus, the rising prevalence rate of numerous age-related diseases along with the increasing geriatric population base is projected to contribute to the growth of the market.