As per our research report, the global Alzheimer’s disease therapeutics and diagnostics market size is forecasted to be growing at a CAGR of 4.67% from 2022 to 2027 and value USD 14844 million by 2027 from USD 11815 million in 2022.
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Alzheimer’s disease can be fatal. Alzheimer’s disease is the most frequent kind of dementia, according to the National Institute on Aging. Because of the rising frequency of Alzheimer’s disease, there has been an increase in the usage of Alzheimer’s disease therapies in recent years. According to the World Health Organization’s September 2021 report, approximately 55 million people worldwide are living with dementia, with nearly 10 million cases reported each year. According to the same source, Alzheimer’s disease is the most common form of dementia, accounting for 60-70 percent of all dementia cases.
The disease has spread worldwide since the COVID-19 viral outbreak in December 2019, prompting the World Health Organization to declare it a public health emergency. The global effects of the COVID-19 pandemic are already being seen, and the Alzheimer’s disease medicines and diagnostic market was greatly impacted in 2020. The pandemic had limited people’s mobility and access to the market, as well as limiting medical check-ups and procedures. Due to regional governments’ lockdowns, people are unable to leave their houses even for a normal check-up. Alzheimer’s disease medicine and technology research and development has been hampered by a global supply chain disruption and the incapacity of people 65 and older to participate in clinical studies.
Some of the major factors driving the worldwide Alzheimer’s disease therapeutics and diagnostics market are an increase in the senior population, an increase in healthcare expenditure, and higher government funding. In addition, rising healthcare awareness and innovative Alzheimer’s disease diagnostic technologies are propelling the worldwide Alzheimer’s disease diagnostics and therapeutics market forward.
The market for Alzheimer’s disease diagnostics and therapeutics in Asia would rise if biopharmaceutical companies increased their R&D spending. In addition, the worldwide Alzheimer’s disease therapeutics market would benefit from the development of novel pharmaceuticals to treat, delay, and prevent Alzheimer’s disease, as well as the early detection of Alzheimer’s disease. There are now only a few therapeutic choices on the market, and none of them provide a total cure for this ailment. As a result, entering the market would give profitable growth opportunities for industry participants.
However, rigorous restrictions and a lengthy approval process for Alzheimer’s disease diagnostics and therapeutics, as well as the expiration of several patent medications, are some of the primary factors limiting the worldwide Alzheimer’s disease patient market’s growth. Causes such as the high cost of medication and a lack of appropriate insurance plans, a lack of general information and understanding of the condition, a lack of resources, difficulties in identifying and diagnosing the disease, poor dementia services, and insufficient therapies pose particular challenges to people from different cultures. Stop the sector from growing; a shortage of competent medical practitioners in developed nations is a major hindrance to the growth of the worldwide Alzheimer’s disease treatments and diagnostics market. A dearth of knowledge about experimental treatments used to cure Alzheimer’s disease is also a big growth stumbling block for the worldwide Alzheimer’s disease therapeutics and diagnostics market.
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KEY MARKET INSIGHTS:
- Based on the therapeutic type, due to its enormous user base, the Marketed Drugs sector is expected to lead the worldwide Therapeutics market. Cholinesterase inhibitors also have the biggest market share in terms of volume. During the projection period, they are expected to grow at a CAGR of 6.8%.
- Cholinesterase inhibitors are more effective at treating Alzheimer’s disease. As long as the US FDA allows cholinergic medications, the majority of physicians and patients believe they are beneficial. Several clinical trials on cholinesterase inhibitors are under underway in order to improve therapeutic efficacy and reduce side effects. As a result of recent advances, the cholinesterase inhibitor medication market is expected to expand over the forecast period.
- Based on the diagnostic types, the global Alzheimer’s disease (AD) Therapeutics and Diagnostics market is led by the computed tomography scan segment. For its large market share, the lack of an alternative imaging tool for brain and neurological diagnostics is critical.
- Geographically, because of its vast ageing population, North America dominates the global market for Alzheimer’s disease medicines. Asia, followed by Europe, is predicted to rise rapidly in the worldwide Alzheimer’s disease treatments market during the next five years. North America now controls the highest share of the worldwide market and is predicted to do so through the end of the forecast period. This region includes developed countries like the United States and Canada. The rising elderly population and the growing burden of Alzheimer’s disease are both contributing to the market’s growth. Alzheimer’s dementia affects one out of every nine persons in the United States aged 65 and up, according to data. Several research projects are now underway in the country with the goal of finding new treatments and diagnostics for the disease, as well as releasing new products. All of these reasons are boosting the market’s expansion in North America. In the Asia-Pacific area, China and India are predicted to be the fastest expanding markets for Alzheimer’s disease therapies. Increasing R&D expenditure, a huge pool of patients, and improved healthcare infrastructure are some of the primary driving forces for the Alzheimer’s disease treatments market in emerging countries.
- The following are some of the major market participants in the Alzheimer’s disease diagnostics and therapeutics market include Abbvie Inc., Pfizer Inc., Eisai Co Ltd., AC Immune SA Allergan PLC, Novartis AG, TauRx Therapeutics Ltd Amarantus Bioscience Holdings, Anavex LifeSciences, Avid Radiopharmaceuticals, Forest Laboratories Inc., H. Lundbeck A/S, Axon Neuroscience, Dalichi Sankyo Co, Eli Lilly, F. Hoffmann La Roche AG, Johnson & Johnson, GE Healthcare and Jansen Pharmaceuticals.
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SEGMENTS COVERED UNDER THIS REPORT:
- Marketed Drugs
- NMDA Receptor Antagonists
- Cholinesterase Inhibitors
- Pipeline Drugs
- Computed tomography scan
- Lumbar puncture test
- Magnetic resonance imaging
- Positron emission tomography
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Browse Regional Reports:
- North America Alzheimer’s Disease Diagnostics And Therapeutics Market
- Europe Alzheimer’s Disease Diagnostics And Therapeutics Market
- APAC Alzheimer’s Disease Diagnostics And Therapeutics Market
- Latin America Alzheimer’s Disease Diagnostics And Therapeutics Market
- MEA Alzheimer’s Disease Diagnostics And Therapeutics Market
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