Alzheimer’s Disease Diagnostics and Therapeutics Market
The brain shrinks and brain cells die as a result of Alzheimer’s disease (AD), a degenerative neurologic condition. It is thought to be caused by an abnormal protein accumulation in and around brain cells. The signs and symptoms of Alzheimer’s develop gradually over time and worsen with time since it is a progressive illness. The probability that a patient may gain therapeutic benefit from treatment rises with an early Alzheimer’s diagnosis. People with dementia can live happy, productive lives for many years after an early diagnosis. Although there is no cure for Alzheimer’s, there are medications that can help with behavioural problems and slow the onset of signs of dementia. As a result, there is a growing demand for Alzheimer’s disease diagnostic and therapeutic alternatives.
Market Statistics
By the end of 2022, the market for diagnostic and treatment products for Alzheimer’s disease is expected to be worth US$6,206,3 million.
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Drivers
The high incidence of Alzheimer’s disease and expanding elderly population are anticipated to fuel the expansion of the worldwide market for diagnostics and treatments for Alzheimer’s disease during the course of the projected period. For instance, Alzheimer’s illness primarily affects older persons, and this age group is growing at an unprecedented rate. It is the most prevalent form of dementia in older persons and is presently the 7th greatest cause of mortality in the United States. The Centers for Disease Control and Prevention (CDC) predict that 5.8 million Americans age 65 or older will have Alzheimer’s disease in 2020.
Opportunities
For businesses engaged in the worldwide diagnostics and therapeutics market for Alzheimer’s disease, rising consumer demand for cutting-edge diagnostics and treatments is anticipated to present potential growth prospects. For instance, the FDA granted fast clearance to ADUHELMTM (aducanumab-avwa) in June 2021, the first and only Alzheimer’s medication to target a key pathophysiology of the disease by lowering amyloid beta plaques in the brain (Food and Drug Administration). Then, Biogen and Eisai highlighted a variety of initiatives to improve access for all qualified patients, including populations who have previously received inadequate medical care.
Restraints
A number of significant factors are anticipated to restrain the growth of the global market for diagnostics and treatments for Alzheimer’s disease, including the high failure rates of late-stage Alzheimer’s medications, a lack of surrogate indicators, and difficulties in early diagnosis. Drug development for Alzheimer’s disease (AD) heavily relies on biomarkers. The availability of such substitutes will hasten the development of AD medications. However, the absence of substitute biomarkers hinders the process of developing AD drugs, limiting the market’s expansion.
Impact
The global drop in hospital and diagnostic centre visits brought on the tight limitations set by many governments across the world to stop the spread of the virus has had a significant negative influence on the market for diagnostic and treatment procedures for Alzheimer’s disease. However, it is anticipated that continued research will fuel industry expansion. For instance, leading scientists from over 25 nations, including the Alzheimer’s Association, are collaborating under the technical direction of the World Health Organization (WHO) to monitor the long-term effects of SARS-CoV-2 (COVID-19) on the brain.
Key Takeaways
The market for diagnostics and treatments for Alzheimer’s disease was valued at US$ 5,933.5 million in 2021 and is expected to expand at a CAGR of 5.6% from 2022 to 2028 attending US$ 8,603.9 million.
The market for diagnostics and therapeutics for Alzheimer’s disease was dominated by the therapeutics segment in 2021, accounting for 84.9% of the market’s value share. Increasing product approval and the introduction of new ones are anticipated to drive segment growth over the forecast period.
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Market Trends
The global market for diagnostics and treatments for Alzheimer’s disease is anticipated to rise as a result of the development of innovative diagnostic technologies. For instance, the FDA of the United States approved the first in vitro diagnostic to assist in the early diagnosis of Alzheimer’s disease in May 2022. The technique, according to the EPA, reduces the radiation risks for patients who would otherwise need to undergo positron emission tomography (PET) scans for testing.
The worldwide market for Alzheimer’s disease diagnostics and therapies is anticipated to increase rapidly as a result of frequent approvals and launches of innovative medications. For instance, donanemab, an experimental antibody treatment from Eli Lilly for Alzheimer’s disease, received Breakthrough Therapy designation from the U.S. Food and Drug Administration (FDA) in June 2021. (AD).
Competitive Landscape
Grifo, Apotex Inc., Vigil Neuroscience, Siemens Healthineers AG, Teva Pharmaceutical Industries L., Apotex Inc., Hoffmann-La Roche Ltd., Lupin Limited, Novartis AG, Eli Lilly & Company, Merck & Co. Inc., Johnson & Johnson, Pfizer Inc., Biogen Inc., and Eisai Co. Ltd., are some of the major companies active in the global market for diagnostics and therapeutics for Alzheimer’s disease.
Recent Developments
A research partnership agreement for the development of prospective cutting-edge medicines for neurodegenerative illnesses, such as Alzheimer’s disease, was signed between Eisai Co. Ltd. and Deutsches Zentrum fรผr Neurodegenerative Erkrankungen (DZNE) in March 2021. (AD).
The Food and Drug Administration (FDA) gave its clearance to Merck & Co. Inc. in February 2020 for an update to the BELSOMRA (suvorexant) C-IV prescription information to incorporate research on its use for treating insomnia in people with mild-to-moderate Alzheimer’s disease.
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Table of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snapshot, By Product
- Market Snapshot, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increasing prevalence of Alzheimer’s disease worldwide
- High failure rates of late-stage Alzheimerโs drugs
- Increase in demand for novel diagnostics and therapeutics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTERโs Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Global Alzheimer’s Disease Diagnostics and Therapeutics Market โ Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Global Alzheimer’s Disease Diagnostics and Therapeutics Market, By Product, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2028 (%)
- Y-o-Y Growth Analysis, 2017 โ 2028
- Segment Trends
- Diagnostics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Therapeutics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017-2028,(US$ Mn)
- Introduction
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