The size of the global Alzheimer's disease therapeutics and diagnostics market is estimated to be growing at a CAGR of 4.67% from 2022 to 2027. The market size is predicted to be worth USD 14844 million by 2027 from USD 11815 million in 2022.
Alzheimer's disease (AD) is the most natural cause of progressive dementia in the elderly populace. There has been an exponential increase in the frequency of Alzheimer's disease cases globally, stressing the need to develop an effective treatment to cure it. Alzheimer's disease is a neurological disease that affects an individual's memory, thinking, and behavior. The traits usually worsen over time to the extent of the inability to perform daily tasks.
Alzheimer's disease (AD) is one of the most widespread dementia in the world. According to the facts and figures of the Alzheimer's Association, every 33 seconds, a new case with Alzheimer's disease occurs. At a very high stage, millions of patients are suffering. Eventually, the improvement in the technology regarding AD and neurodegenerative conditions is becoming significant. 10-20% of the diagnosis of AD is inaccurate to overcome this hurdle. Alzheimer's disease is a degenerative and progressive disease that attacks the nerve cells, which results in the loss of memory, behavioral changes, and changes in thinking and language skills. There is fast growth in the people living with Alzheimer's disease, around one individual in four diagnosed with this disease.
The growth of the global Alzheimer's disease therapeutics and diagnostics market is mainly driven by factors such as the growing old age population, rising R&D investment, high frequency of Alzheimer's and neurodegenerative diseases, and improved life expectancy of the general population.
Factors such as the increasing elderly population, rising R&D spending, the high prevalence of Alzheimer's and neurodegenerative disorders, and the growing prevalence of chronic diseases such as dementia are propelling the growth rate of the market. Increasing the number of channels for drug development and investing in biomarkers for drug development also fuel the growth rate of the Alzheimer's disease therapeutics and diagnostics market. Increasing innovative diagnostics for early diagnosis and more specific drug development, and increased life expectancy in the general population drive the global Alzheimer's disease therapeutics and diagnostics market. According to the United Nation's Global Population Prospects 2019, by 2050, one in every six inhabitants in the world will be over the age of 65, up from one in every eleven in 2019. Furthermore, the market is expected to expand due to an increase in the number of clinical studies relating to the diagnosis and treatment of Alzheimer's disease.
The other factors anticipated by the growth of this market are the increasing occurrence of chronic diseases like dementia, increasing channel drug development, and venture into biomarkers for drug development and increasing advanced diagnostics for early detection and more specific drug development.
Factors restraining the market's growth include declines due to a shortage of surrogate indicators for drug discovery and production, inadequate testing resources, and long, unpredictable procedures. With the rising number of people impacted, Alzheimer's disease is becoming a significant public health issue. Alzheimer's disease affects 5.3 million Americans and 35 million individuals globally. New treatments for diagnosing and treating Alzheimer's disease are desperately needed as the disease progresses across the world. Since the signs are mild and the anatomical changes in the brain and central nervous symptoms are not often evident by medical scans, early diagnosis of Alzheimer's disease (AD) is complex, and the early symptoms of Alzheimer's disease (AD) are often ignored. This restriction has serious consequences because late-stage diagnosis provides patients with only symptomatic relief alternatives through drugs, reducing the potential advantage that may have been achieved through early medication and diagnosis. As a result, shortcomings in early-stage AD diagnosis restrict the global development of the AD diagnostics and therapeutics market.
Presently, very few therapeutic options are present in the market, and none of them offers a complete remedy for this condition. Hence, entry into the market would provide lucrative growth prospects to the industry players.
Causes such as the exorbitant cost of medication and a shortage of appropriate insurance plans, a lack of general information and understanding of the condition, insufficient resources, difficulties in identifying and diagnosing the disease, poor dementia services, and insufficient therapies diverse cultures face particular challenges. Stop the industry from expanding; lack of qualified medical practitioners in developed countries is a major impediment to the global Alzheimer's disease therapeutics and diagnostics market's expansion. Also, a major growth obstacle for the global Alzheimer's disease therapeutics and diagnostics market is a lack of knowledge about experimental treatments used to cure the disease.
Impact of COVID-19 on the global Alzheimer's disease diagnostics and therapeutics market:
Since the COVID-19 virus outbreak in December 2019, the disease has spread worldwide, with the World Health Organization declaring it a public health emergency. The COVID-19 pandemic impacts are already starting to be felt globally and will significantly affect the Alzheimer's disease therapeutics and diagnostic market in 2020. The pandemic had restricted the people's movement and the market, reducing regular medical check-ups and surgeries. People are not leaving their homes even for a routine check-up due to lockdowns put in place by regional governments. Disrupted supply chain throughout the globe and the inability of people ages 65 and older to participate in clinical trials have hit Alzheimer's Disease drugs and technologies' research and development.
Market Size Available
2021 to 2027
2022 to 2027
By Therapeutics, Diagnostics, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
This research report on the global Alzheimer’s disease Diagnostics and Therapeutics Market segmented and sub-segmented based on the Therapeutics, diagnostics, and region.
Alzheimer’s disease Diagnostics and Therapeutics Market – By Therapeutics:
The Marketed Drugs segment is predicted to lead the global market based on Therapeutics due to a large user base. Additionally, Cholinesterase inhibitors have the largest market share by size. They are expected to witness a CAGR of 6.8% during the forecast period.
Cholinesterase inhibitors have higher efficiency for the treatment of Alzheimer's. The majority of physicians and patients consider cholinergic drugs useful as the US FDA approves them. Several clinical trials are ongoing on cholinesterase inhibitors to increase drug efficacy and decrease adverse effects. Therefore, due to recent developments, the cholinesterase inhibitor drug market will grow during the forecast period.
Alzheimer’s disease Diagnostics and Therapeutics Market – By Diagnostics:
Among all the segments, the Computed tomography scan segment leads the global Alzheimer's disease (AD) Therapeutics and Diagnostics market. The absence of an alternative imaging tool for brain and neurological diagnostics is crucial for its large share.
Alzheimer’s disease Diagnostics and Therapeutics Market – By Region:
Geographically, North America is anticipated to be the largest market for Alzheimer's disease Therapeutics and Diagnostics due to the growing prevalence of Alzheimer's disease and extensive technological developments in the region. North America currently commands the market for Alzheimer's disease diagnostics and Therapeutics, and it is expected to sustain its stronghold in the future. Country-wise, the United States holds the largest share of the global Alzheimer's disease diagnostics and therapeutics market.
The United States is the global leader in Alzheimer's disease intervention and management. Numerous biopharmaceutical companies operate in America, which cumulatively have 85 drugs for combating Alzheimer's disease in various pipeline stages. Hence, the market is expected to register a healthy CAGR over the forecast period.
With the growing aging population developing regions of Asia Pacific, the region's market is expected to grow at the maximum rate during the forecast period. Developing countries are expected to offer promising opportunities for this market. According to Alzheimer's disease International in 2015, 58% of dementia patients live in developing countries, but by 2050 this will soar to 68%. The fastest growth in the aged population occurs in China, India, and their south Asian and western Pacific region. According to the World Alzheimer Report in 2015, regional estimations of dementia prevalence in people aged 60 years and over vary from 4.6% in Central Europe to 8.7% in North Africa and the Middle East. However, all other regional estimates fall relatively between 5.6% and 7.6%.
KEY MARKET PARTICIPANTS:
Some of the dominating companies in the Global Alzheimer's Disease Therapeutics and Diagnostics Market analyzed in this report are Abbvie Inc., Pfizer Inc., AC Immune SA, Eisai Co Ltd., Allergan PLC, Novartis AG, Amarantus Bioscience Holdings, H. Lundbeck A/S, Anavex LifeSciences, Avid Radiopharmaceuticals, Forest Laboratories Inc., Axon Neuroscience, Daiichi Sankyo Co, TauRx Therapeutics Ltd, Eli Lilly, F. Hoffmann La Roche AG, Johnson & Johnson, GE Healthcare and Janssen Pharmaceuticals.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Marketed Drugs
188.8.131.52 NMDA Receptor Antagonists
184.108.40.206 Cholinesterase Inhibitors
5.1.3 Pipeline Drugs
5.1.4 Y-o-Y Growth Analysis, By Therapeutics
5.1.5 Market Attractiveness Analysis, By Therapeutics
5.1.6 Market Share Analysis, By Therapeutics
5.2.2 Computed tomography scan
5.2.4 Lumbar puncture test
5.2.5 Magnetic resonance imaging
5.2.6 Positron emission tomography
5.2.8 Y-o-Y Growth Analysis, By Diagnostics
5.2.9 Market Attractiveness Analysis, By Diagnostics
5.2.10 Market Share Analysis, By Diagnostics
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Therapeutics
22.214.171.124 By Diagnostics
6.1.4 Market Attractiveness Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Therapeutics
184.108.40.206 By Diagnostics
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Therapeutics
22.214.171.124 By Diagnostics
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Abbvie Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Pfizer Inc.
8.3 AC Immune SA
8.4 Eisai Co Ltd.
8.5 Allergan PLC
8.6 Novartis AG
8.7 Amarantus Bioscience Holdings
8.8 H. Lundbeck A/S
8.9 Anavex LifeSciencescs
8.10 Avid Radiopharmaceuticals
8.11 Forest Laboratories Inc.
8.12 Axon Neuroscience
8.13 Daiichi Sankyo Co
8.14 TauRx Therapeutics Ltd
8.15 Eli Lilly
8.16 F. Hoffmann La Roche AG
8.17 Johnson & Johnson
8.18 GE Healthcare
8.19 Janssen Pharmaceuticals
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
Talk to our analyst and get customised report done according to your research needs
Check if you can avail any discount. Submit your details and our team will get back to you.
Request to avail a free sample report that reflects this market and its growth.