The global Alzheimer’s diagnostics and therapeutics market is expected to enjoy a valuation of USD 6.6 Billion by the end of the year 2023, and further expand at a CAGR of 8.4% to reach a valuation of USD 14.8 Billion by the year 2033. According to a recent study by Future Market Insights, diagnostics is leading the market with a share of about 54.1% in the year 2022, within the global market.
Market Outlook:
| Data Points | Market Insights |
|---|---|
| Market Value 2022 | USD 6.1 Billion |
| Market Value 2023 | USD 6.6 Billion |
| Market Value 2033 | USD 14.8 Billion |
| CAGR 2023 to 2032 | 8.4% |
| Market Share of Top 5 Countries | 68.2% |
| Key Market Players | 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.; and Lannett Inc. |
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).
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The market value for Alzheimer’s diagnostics and therapeutics was 43.1% of the overall USD 14.2 Billion of the global dementia treatment market in 2022.
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.
Alzheimer's disease is a progressive disease, which means that it worsens over time. Early and accurate diagnosis is critical to assisting patients and cares with treatment planning and options. A safe and reliable test that is able to precisely detect patients with amyloid plaques in Alzheimer's patients is still lacking. Recently the FDA has approved the first IVD (in vitro diagnostic test) for the early diagnosis of amyloid plaques linked with Alzheimer's disease is being marketed. The Lumipulse G-Amyloid Ratio test is designed for use in adult patients who are 55 years of age or older with cognitive impairment and are being assessed for Alzheimer's disease and other roots of cognitive decline.
Thus, advances in technology and research may lead to the development of new and more effective diagnostic tools and therapies, which could further increase the sales of these products and is expected to boost demand for the global Alzheimer’s diagnostics and therapeutics market is projected to expand at a CAGR of 8.4% during the forecast period (2023 to 2032).
The market has significant growth opportunities due to the increasing prevalence of Alzheimer's disease (AD) worldwide.
There is a growing interest in developing biomarker-based diagnostics for Alzheimer's disease. Biomarkers can help to identify individuals at risk of developing AD, track disease progression, and assess treatment response. There is a need for reliable and accurate biomarkers that can be used in clinical practice. There is a significant need for Alzheimer's diagnostics and therapeutics in emerging markets, such as Asia and Latin America, where the prevalence of the disease is increasing rapidly. Companies that can successfully penetrate these markets could see significant growth opportunities.
The market presents significant opportunities for companies that can develop innovative and effective solutions for the diagnosis and treatment of this devastating disease in both developed and developing regions will raise the market to new heights during the forecast period from 2023 to 2033.
The high cost of Alzheimer's disease diagnosis is one of the significant factors that will likely stymie the growth of the Alzheimer's disease diagnostic market. Given the resources deployed to prevent, diagnose, treat, and manage dementia, the economic costs of AD are significant for the health system. The societal costs of dementia extend beyond these direct costs, as the disease has an economic and quality-of-life impact on individuals, families, and careers.
According to some studies, the direct and indirect costs of Alzheimer's disease-related healthcare are very high. Alzheimer's disease necessitates post-mortem assessment of brain tissue via positron emission tomography (PET) and cerebrospinal fluid (CSF) biomarkers, as well as several innovative clinical criteria that can aid diagnosis in patients. The cost of a true dementia diagnosis is calculated by dividing the total cost of all investigations by the number of final dementia diagnoses. The unit costs for the various components of the diagnostic process are used to assess all costs.
Aligned with the global aging population, the global prevalence of Alzheimer's disease is expected to rise exponentially in the coming decades. As a result, the costs of AD have come under increased scrutiny, and projections have been made which are restraining the growth of the Alzheimer's diagnostics and therapeutics market during the forecast period from 2023 to 2033 in the world.
With a market share of 89.7% in 2022, theUSA continue to dominate the North American region. This large market share is expected to continue throughout the forecast period.
The United States has one of the maximum prevalence rates of Alzheimer's disease in the world.
Additionally, the combination of an aging population, high prevalence of Alzheimer's disease, high healthcare spending, and strong research infrastructure make the United States an attractive market for Alzheimer's diagnostics and therapeutics.
This will result in the propulsion of demand for Alzheimer’s diagnostics and therapeutics in the country during the forecast period of 2023 to 2033.
The United Kingdom dominates the European region with a total market share of about 39.6% in 2022 and is expected to continue to experience the same growth throughout the forecast period.
The United Kingdom has an aging population, which increases the demand for Alzheimer's diagnostics and therapeutics. As people live longer, the prevalence of Alzheimer's disease increases, and the United Kingdom is expected to see a significant rise in the number of people living with the disease in the coming years.
The United Kingdom government has shown a commitment to funding research into Alzheimer's disease, with investments in both public and private sector research. This support helps to attract investment from pharmaceutical companies, which are crucial for bringing new diagnostics and therapeutics to market and will foster profitable growth of the market over the course of the forecast period.
Japan in the East Asia region holds a market share of 60.4% in 2022 and will expand with growing numbers in the future.
Japan has a robust research infrastructure, with many leading research institutions dedicated to studying Alzheimer's disease. The country is home to a few of the world's top pharmaceutical companies, and the Japanese government has made significant investments in research and development in this area.
The aging population, strong research infrastructure, innovative technologies, and supportive government policies all suggest that Japan will continue to be an important market for Alzheimer's diagnostics and therapeutics.
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Diagnostics is expected to present high growth at a CAGR of 7.5% throughout the forecast period, with a market share of 54.1% in the global market in 2022. Recent technological advancements in diagnostic testing have led to the development of more accurate and reliable tests for Alzheimer's disease. These advances have helped to increase the adoption of diagnostic testing and drive market growth.
As the demand for reliable and accurate diagnostic tests continues to grow, the market for Alzheimer's diagnostics is expected to expand significantly in the coming years.
Institutional sales hold the market share value of 57.9% during the year 2022. Institutional sales by distribution channels allow hospitals and clinics to purchase the necessary equipment and drugs needed to treat patients with Alzheimer's disease and also enable manufacturers to expand their market reach. By partnering with hospitals and clinics, manufacturers can reach a larger patient population and increase sales of their products.
Thus, institutional sales are expected to benefit the most from the sales of Alzheimer's diagnostics and therapeutics globally in the next decade.
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
| Attribute | Details |
|---|---|
| Forecast Period | 2012 to 2022 |
| Historical Data Available for | 2023 to 2032 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, Nordic Countries, India, Thailand, Indonesia, Malaysia, Vietnam, Philippines, Japan, China, South Korea, Australia, New Zealand, Türkiye, GCC Countries, Israel, North Africa, and South Africa |
| Key Market Segments Covered | Product, Distribution Channel, and 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. |
| Report Coverage | Market Forecast, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Pricing | Available upon Request |
The market will register a 9.2% CAGR through 2033.
Increasing incidences of alzheimer drive market expansion.
From 2018 to 2022, the market expanded at a 6.8% CAGR.
The United States held a market share of 94% in 2022.
By 2033, the market will reach USD 7,359.7 million.
| Market Value for 2024 | USD 52 billion |
|---|---|
| Market Value for 2034 | USD 102.4 billion |
| Forecast CAGR for 2024 to 2034 | 7% |
| Market Value 2023 | USD 3,052.3 million |
|---|---|
| Market Value 2033 | USD 7,359.7 million |
| CAGR (2023 to 2033) | 9.2% |
| Expected Market Value (2023) | USD 35 Million |
|---|---|
| Anticipated Forecast Value (2033) | USD 75.56 Million |
| Projected Growth Rate (2023 to 2033) | 8% CAGR |
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Alzheimer's Diagnostics and Therapeutics Market
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