The size of the Europe Alzheimer’s Disease Market was worth USD 2956.33 Million in 2022 and is estimated to be growing at a CAGR of 4.76%, to reach USD 3730.18 Million by 2027.
The market for treatments and diagnostics for Alzheimer's disease in Europe is primarily driven by an aging population, increased R&D expenditure, a high prevalence of Alzheimer's and neurodegenerative disorders, and increased life expectancy in the general population.
The growth rate of the Alzheimer's disease market in Europe is also fuelled by expanding the number of drug development channels and investing in biomarkers for drug development. The market for Alzheimer's disease therapies and diagnostics in Europe is driven by a rise in new diagnostics for early diagnosis and more specialized medication development, and an increase in life expectancy in the general population. According to the United Nations' Global Population Prospects 2019, one out of every six people on the planet will be over 65 by 2050, up from one out of every eleven in 2019. In addition, the market is expected to benefit from an increase in clinical trials related to diagnosing and treating Alzheimer's disease.
Other key drivers expected to drive the market expansion include the rising prevalence of chronic diseases like dementia, increased channel drug development, venture into biomarkers for drug development, and increased advanced diagnostics for early diagnosis and more targeted medication development.
However, a lack of surrogate indicators for drug research and development, insufficient testing resources, and lengthy, unpredictable procedures are forecasted to limit the market's growth. Alzheimer's disease is soon becoming a severe public health concern as the number of persons affected grows. Alzheimer's disease affects around 5.3 million people in the United States and 35 million people worldwide. As Alzheimer's disease spreads worldwide, new techniques for diagnosing and treating the condition are urgently needed. Early detection of Alzheimer's disease (AD) is complex. Early symptoms of Alzheimer's disease (AD) are typically neglected because the indicators are moderate. The physical changes in the brain and central nervous system symptoms are not generally visible on medical scans. This limitation is critical because late-stage diagnosis provides patients with symptomatic relief through drugs, negating any potential benefit from early therapy and diagnosis.
This research report on the European Alzheimer's disease market has been segmented and sub-segmented into the following categories.
Geographically, the European region is one of the prominent regions for AD therapeutics and diagnostics. Populations in Europe are aging, and this grows the frequency of Alzheimer’s disease, and roughly around 9 million people in the EU are projected to have dementia by 2030 – approaching twice the population of Denmark. Therefore, increasing R&D activity and a strong pipeline of disease-modifying drugs are the crucial factors driving the market's growth in this region.
In the following years, dementia cases in the United Kingdom are predicted to increase, propelling the industry under investigation even higher. The Dementia Discovery Fund (DDF) has invested GBP 250 million in developing new dementia medications. Furthermore, by 2030, the aging population (those over 65) is expected to increase significantly. According to the National Clinical Trials Registry, approximately 25 active clinical trials for Alzheimer's disease in the United Kingdom (NCT). Market growth in the United Kingdom is expected to be aided by such factors.
By 2030, Italy's 13.93 million aging population will have grown to 16.46 million. This is expected to push the government to take the lead in developing viable medications. According to the National Centre for Trials and Evaluation, there are currently 16 active Alzheimer's disease trials. According to Alzheimer Europe, Italy initiated the 'Interceptor Project' in December 2017 to detect persons at risk of Alzheimer's disease. The market in Italy is expected to increase in the following years due to current research-friendly public policy frameworks.
KEY MARKET PLAYERS:
Leading companies have applied tactics such as mergers & acquisitions, collaborations, and joint ventures to gain a strong foothold in the market. As a result, the major companies dominating the Alzheimer’s Disease market in this region 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, Janssen Pharmaceuticals, etc.
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