PUBLISHER: Inkwood Research | PRODUCT CODE: 1604204
PUBLISHER: Inkwood Research | PRODUCT CODE: 1604204
The global Alzheimer's disease therapeutics & diagnostics market was valued at $7366.84 million in 2023 and is expected to reach $12302.40 million by 2032, growing at a CAGR of 5.81% during the forecast period 2024-2032. The base year considered for the study is 2023, and the estimated period is between 2024 and 2032. The market study has also analyzed the impact of COVID-19 on the Alzheimer's disease therapeutics & diagnostics market qualitatively as well as quantitatively.
Alzheimer's is a progressive neurodegenerative disorder that damages the brain's nerve cells, resulting in memory loss, cognitive decline, and behavioral changes. The Alzheimer's disease therapeutics & diagnostics market is projected to grow, amped by the development of disease-modifying drugs and a strong pipeline of late-stage treatments. The Alzheimer's market size is also influenced by the rising prevalence of Alzheimer's worldwide, which has spurred significant research and development of Alzheimer's disease.
According to a September 2023 report by the WHO, approximately 55 million people worldwide are living with dementia, with nearly 10 million new cases reported each year. Alzheimer's disease is the most common form of dementia, representing 60%-70% of all cases. In parallel, with increased investments in biomarkers for drug development and early detection, the adoption of biomarker-based diagnostics is expected to accelerate. This shift is likely to pave the way for innovative Alzheimer's disease therapies, further contributing to the global market's expansion.
At present, Alzheimer's & dementia diagnosis assessment and disease monitoring largely depend on advanced diagnostic technologies, such as brain imaging studies. However, the future of the Alzheimer's disease diagnostics market may shift towards blood-based tests, which are less invasive. These tests, designed to identify Alzheimer's biomarkers, are currently awaiting FDA approval and are expected to be available by the end of the forecast period.
Key growth enablers of the global Alzheimer's disease therapeutics & diagnostics market:
The global prevalence of Alzheimer's disease is a key driver of market growth, highlighting the continued need for effective treatments. In the United States, approximately 5.8 million people are currently living with Alzheimer's dementia, with projections indicating this number could reach 13.8 million by mid-century, primarily due to the aging baby boomer generation. Moreover, the substantial burden on caregivers is evident, with more than 16 million family members and unpaid caregivers contributing an estimated 18.5 billion hours of care in 2018 alone.
Notably, women make up about two-thirds of Americans living with Alzheimer's, and the disease's significant prevalence across all age groups, including those under 65, is expected to drive growth in the Alzheimer's disease therapeutics & diagnostics market.
Key growth restraining factors of the global Alzheimer's disease therapeutics & diagnostics market:
Alzheimer's disease (AD) is the most prevalent form of dementia in the elderly and ranks as a leading cause of death, following cancer, heart disease, and stroke. Early symptoms of AD, such as aphasia, apraxia, and agnosia, are often mild and can be easily overlooked, making early diagnosis difficult and potentially delaying crucial diagnostic and therapeutic interventions. The lack of definitive diagnostic procedures and surrogate markers further complicates the drug discovery and development process. Unlike biomarkers, a surrogate marker acts as an indirect measure of therapy effectiveness in clinical trials, serving as a substitute for a clinically meaningful endpoint.
Surrogate markers are utilized in controlled trials to demonstrate the effectiveness of new treatments and are especially valuable in the early phases of drug development for gathering preliminary data. The availability of reliable surrogate markers could help accelerate drug development and enhance diagnostic processes. Technologies such as DNA microarrays and emerging proteomics show promise in screening for these markers. However, there are currently no established surrogate markers that consistently predict clinical outcomes in Alzheimer's disease trials aimed at disease modification, creating challenges for drug development and contributing to the high failure rates in clinical trials.
Global Alzheimer's Disease Therapeutics & Diagnostics Market | Top Market Trends
SEGMENTATION ANALYSIS
Market Segmentation - Product -
Market by Product:
Cholinesterase Inhibitors
NMDA Receptor Antagonists
Other Therapeutics
Brain Imaging
CSF Test for Alzheimer's Disease
Other Diagnostics
REGIONAL ANALYSIS
Geographical Study based on Four Major Regions:
The Asia-Pacific is estimated to be the leading region over the forecast period.
The Asia-Pacific Alzheimer's disease therapeutics & diagnostics market is experiencing robust growth, fueled by a rapidly aging population and the rising prevalence of Alzheimer's disease. In essence, the World Health Organization (WHO) projects that the number of individuals aged 60 and above in the region will double by 2050, reaching approximately 1.3 billion. This demographic shift is contributing to an increase in Alzheimer's cases, with an estimated 23 million people in the Asia-Pacific expected to be affected by dementia by 2030, a significant portion of them likely to be diagnosed with Alzheimer's disease. In response, governments in countries like Japan, China, and South Korea are investing in healthcare infrastructure and promoting early diagnosis and intervention, which is anticipated to further drive the demand for advanced diagnostic and therapeutic solutions.
Further, in terms of diagnostics, there has been a noticeable increase in the adoption of advanced imaging technologies and biomarker-based tests across the Asia-Pacific. Japan, for example, is leading the way in using PET scans and cerebrospinal fluid analysis for early Alzheimer's detection, with around 4.6 million individuals estimated to be living with dementia in the country.
Additionally, pharmaceutical companies in China have amplified research and development efforts, with over 70 clinical trials related to Alzheimer's disease currently underway, focusing on new treatments and enhancing existing therapeutic approaches. Despite these promising advancements, challenges such as limited healthcare access in rural areas and the high cost of advanced diagnostics remain, presenting obstacles to achieving wider market penetration across the region.
Major players in the global Alzheimer's disease therapeutics & diagnostics market:
Key strategies adopted by some of these companies:
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Frequently Asked Questions (FAQs):
A: Common diagnostic methods for Alzheimer's disease include neuroimaging (MRI, PET scans), cerebrospinal fluid analysis, blood tests, and cognitive assessments.
A: Current therapies for Alzheimer's disease include cholinesterase inhibitors, NMDA receptor antagonists, and emerging disease-modifying drugs aimed at slowing disease progression.
A: Biomarkers are crucial for early diagnosis and tracking disease progression, enabling more precise and personalized treatment strategies.