The size of the North America Alzheimer’s Disease Market was worth USD 3507.74 Million in 2022. This value is estimated to be growing at a CAGR of 4.74% to reach USD 4421.71 Million by 2027.
The growing geriatric population and the increasing ubiquity of Alzheimer's disease are important factors driving the Alzheimer's disease market in North America. According to the Alzheimer’s Association, in 2016, an estimated 5.4 million Americans of all ages had Alzheimer's disease. One in nine people aged 65 and above has Alzheimer's disease. By 2050, the number of people aged 65 and above affected by Alzheimer's disease is projected to nearly triple, from 5.2 million to an expected 13.8 million. Increasing R&D activity and a strong pipeline of disease-modifying drugs are the crucial factors driving the market growth in this region. Alzheimer's disease is the leading cause of dementia in the elderly, an integral part of the aging process. Hence, the increasing geriatric population globally acts as a key driver for Alzheimer's disease diagnosis and treatment market. The high prevalence of Alzheimer's disease worldwide is a key factor for the market's growth. It stresses the need to improve a successful cure for Alzheimer's disease.
Additionally, factors contributing to the market's growth are increasing the development of online drugs, increasing the incidence and prevalence of Alzheimer's disease, increasing sophisticated diagnostics for early detection and precise drug development, and new emerging diagnostic techniques. Investments in biomarker development for drug development and early detection of Alzheimer's disease are the main drivers and drive the growth of the North American market for Alzheimer's.
The early diagnosis of the indication is a challenge for Alzheimer's disease and is becoming a significant threat to public health due to the growing number of people affected.
This research report on the North America Alzheimer’s disease Market has been segmented and sub-segmented into the following categories:
Geographically, North America currently dominates the global market for Alzheimer's disease and is expected to continue strengthening for a few years. The U.S. holds the largest share of the worldwide market for diagnosing and treating Alzheimer's disease. The United States is the world leader in the intervention and treatment of Alzheimer's disease. The United States has many biopharmaceutical companies, accumulating 86 drugs to fight Alzheimer's disease at different stages. Hence, the market is expected to display a healthy CAGR during the forecast period. According to the Alzheimer's Association, more than 6 million Americans will be living with Alzheimer's disease by 2020. One in nine people aged 60 and over has Alzheimer's disease. By 2040, the number of people aged 60 and over affected by Alzheimer's disease is expected to nearly triple, from 6.2 million to 17.8 million, excluding the development of medical advances to prevent or cure the disease. Death rates from Alzheimer's disease are relatively high. Between 2005 and 2019, deaths from heart disease, stroke, and prostate cancer decreased by 15%, 24%, and 12%, respectively, while deaths from Alzheimer's disease increased by 76%. The United States accounts for a significant share of approximately 86% of total revenues in North America.
On the other hand, the Canadian market is also anticipated to grow at a healthy CAGR during the forecast period owing to the growing incidence of Alzheimer’s in Canada. As per the statistics published by Alzheimer’s Association, an estimated 747,000 Canadians have Alzheimer’s or another dementia.
KEY MARKET PLAYERS:
A few of the major players dominating the North American Alzheimer’s disease market 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.
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