The global Alzheimer’s diagnostics and therapeutics market is anticipated to reach a valuation of USD 6.6 billion by the end of 2023. According to a recent study by Future Market Insights, the market is expected to expand at a compound annual growth rate (CAGR) of 8.4%, reaching approximately USD 14.8 billion by 2033.
In 2022, the diagnostics segment dominated the market, holding a significant share of about 54.1%. This trend reflects the increasing emphasis on early detection and accurate diagnosis of Alzheimer’s disease, which is critical for effective management and treatment.
The anticipated growth in the Alzheimer’s diagnostics and therapeutics market can be attributed to the rising prevalence of Alzheimer’s disease and other dementias, alongside ongoing advancements in diagnostic technologies and therapeutic options. As the global population ages and the burden of cognitive disorders rises, the demand for innovative and reliable solutions is expected to surge.
With the aging population and longer life expectancy, the prevalence of Alzheimer’s disease is increasing worldwide. This has led to a growing demand for early and accurate diagnosis and effective treatments. Researchers are exploring personalized medicine approaches to Alzheimer’s treatment, tailoring therapies to a patient’s unique genetic and molecular profile. This approach may lead to more effective treatments with fewer side effects.
Overall, the market is projected to expand in the coming years, driven by an aging population and increasing demand for effective treatments, and will boost the overall growth of the Alzheimer’s diagnostics and therapeutics market during the forecast period (2022 to 2033).
This robust market growth presents substantial opportunities for healthcare providers, pharmaceutical companies, and research institutions dedicated to improving the diagnosis and treatment of Alzheimer’s disease, ultimately enhancing the quality of life for affected individuals and their families.
Key Takeaways from Market Study:
- Diagnostics is the leading segment by product, and held a 1%market value share in 2022, owing to new technologies that are being used to monitor Alzheimer’s disease and to detect its progression.
- By distribution channel, institutional sales are leading in the global Alzheimer’s diagnostics and therapeutics market, and are expected to continue to do so with a projected CAGR of 3%during the forecasted years.
- North America is considered the leading region with a value share of 0%in 2022, as there is a growing number of people in the U.S. who are at risk of developing Alzheimer’s disease.
Sales Analysis of Alzheimer’s Diagnostics and Therapeutics from 2012 to 2022 Vs Market Outlook for 2023 to 2033
The market value for Alzheimer’s diagnostics and therapeutics was 43.1% of the overall ~US$ 14.2 Billion of the global dementia treatment market in 2022.
- The global burden of Alzheimer’s disease is rising. According to the World Health Organization (WHO), around 50 million individuals have Alzheimer’s disease in 2021, and there are close to 10 million new cases recorded each year.
- According to Alzheimer’s Association, an estimated 6.5 million Americans of age 65 and older are suffering from Alzheimer’s in the year 2022. 73% are of age 75 or older.
The growing burden of Alzheimer’s disease increased the sales of Alzheimer’s diagnostics and therapeutics in the market. As the population ages and the number of people with Alzheimer’s disease increases, there will likely be greater demand for diagnostic tests and treatments that can help manage the disease.
Competitive Landscape
Manufacturers invest heavily in research and development to discover new diagnostic tools and treatments for Alzheimer’s disease. Some manufacturers may diversify their product offerings to include a range of diagnostic and therapeutic options for Alzheimer’s disease.
Acquisitions, collaboration, and clinical trials significantly accelerate the manufacturer’s ability to capture a significant share of the market. A few of the recent instances include
- In March 2022, Biogen Inc. and Eisai Co., Ltd. prolonged their existing partnership for the treatment of Alzheimer’s disease
- In January 2022, Lupin signed its first partnership agreement in china with Shenzhen Foncoo Pharmaceutical Co. to expand product offerings in the china region.
Key Companies Profiled
- Biogen Inc.
- AbbVie, Inc.
- Teva Pharmaceuticals Ltd.
- Eisai Co.
- Ltd.
- Janssen Pharmaceuticals Inc.
- Novartis AG
- Zydus Lifesciences Ltd.
- Sun Pharmaceutical Industries Ltd.
- Dr. Reddy’s Laboratories Ltd.
- Aurobindo Pharma Ltd.
- AMillioneal Pharmaceuticals Inc.
- Macleods Pharmaceuticals Ltd.
- Viatris Inc.
- Lupin Ltd.
- Cipla Ltd.
- Torrent pharmaceuticals Ltd.
- Unichem Laboratories Ltd.
- Lannett Inc.
Key Market Segments Covered in Alzheimer’s diagnostics and therapeutics Industry Research
By Product:
- Therapeutics
- Cholinesterase Inhibitors
- NMDA Receptor Antagonists
- Manufactured Combination
- Diagnostics
- Lumbar Diagnostics Test
- CT Scan
- MRI
- EEG
- PET scan
By Distribution Channel:
- Institutional Sales
- Hospitals
- Specialty Clinics
- Diagnostic Centers
- Retail Sales
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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