Market Size of Alzheimer's Disease Diagnostics And Therapeutics Industry
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 7.70 Billion |
| Market Size (2029) | USD 10.10 Billion |
| CAGR (2024 - 2029) | 5.57 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Alzheimer's Disease Diagnostics And Therapeutics Market Analysis
The Alzheimer's Disease Diagnostics And Therapeutics Market size is estimated at USD 7.70 billion in 2024, and is expected to reach USD 10.10 billion by 2029, growing at a CAGR of 5.57% during the forecast period (2024-2029).
The major factors driving the growth of the Alzheimer's Disease Market are the increasing use of biomarkers in Alzheimer's diagnosis and drug development and the rising prevalence of Alzheimer's worldwide. For instance, in September 2023, a report by the WHO stated that about 55 million people around the world are living with dementia, and nearly 10 million cases are reported annually. WHO also said that Alzheimer's is the most common form of dementia and constitutes about 60%-70% of the total cases of dementia.
Also, with the growing prevalence of Alzheimer's around the world, government and non-government entities are investing heavily in developing diagnostics and therapeutics for the disease, which may augment the growth of the Alzheimer Disease Treatment Market. For instance, as per the NIH in May 2022, the funding for research and development of Alzheimer's Disease in 2021 is estimated to be USD 3,059 million, which rises to USD 3,348 million in 2022. This shows the increased research funding for the diseases, which likely increases the usage of the diagnostics and treatment options that drive the Alzheimer's Treatment Market over the forecast period.
Additionally, with the advancement in diagnostic technologies and ongoing research activities in the area, companies are enhancing their product offerings and launching new products. Coupled with other business expansion initiatives like mergers and acquisitions, strategic collaboration, and new investments, these efforts are also expected to complement the growth of the Alzheimer's Disease Therapeutics Market over the forecast period. For instance, in February 2023, Athira Pharmaceuticals released its list of planned clinical trials for 2023, which included the development of therapeutic drugs for the treatment of Alzheimer's Disease. In January 2023, Cyclo Therapeutics, Inc. announced that the first patient had been enrolled and dosed in its phase IIb study of Trappsol Cyclo for treating early Alzheimer's Disease (AD). It targets the disrupted lipid pathways and the reduction of amyloid beta and tau. Thus, such therapeutics development leads to better drugs for Alzheimer's treatments, thereby driving the growth of the Alzheimer Drug Market.
Thus, the Alzheimer's Disease Diagnostics and Therapeutics Market is expected to witness healthy growth over the forecast period due to the use of biomarkers, increasing research and development, and advanced diagnostic technologies. However, high failure rates of clinical studies related to diagnosis and treatment and challenges in early diagnostics of Alzheimer's may impede the market growth over the forecast period.
Alzheimer's Disease Diagnostics And Therapeutics Industry Segmentation
Alzheimer's disease is a progressive and neurodegenerative disorder that attacks the brain's nerve cells or neurons, which results in loss of memory, thinking and language skills, and behavioral changes. There is a rapid growth in the number of people living with Alzheimer's disease, and only around one in four people with the disease get diagnosed. The Alzheimer's Disease Diagnostics and Therapeutics Market is Segmented by Product, which is sub-segmented as Therapeutics -Cholinesterase Inhibitors, NMDA Receptor Antagonists, and Other Therapeutics and Diagnostics - Brain Imaging and CSF Test and Other Diagnostics for Alzheimer's Disease. The market is geographically segmented as North America, Europe, Asia-Pacific, the Middle East, Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across the major regions globally. The report offers the value (in USD ) for all the above segments.
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Alzheimer's Disease Diagnostics And Therapeutics Market Size Summary
The Alzheimer's disease diagnostics and therapeutics market is poised for substantial growth over the forecast period, driven by the increasing application of biomarkers in diagnosis and drug development, alongside the rising global prevalence of Alzheimer's disease. The market is experiencing a surge in investment from both governmental and non-governmental entities, aimed at advancing diagnostics and therapeutics. This influx of funding is expected to enhance research and development efforts, leading to the introduction of innovative diagnostic technologies and therapeutic products. Companies are actively expanding their product offerings through strategic collaborations, mergers, and acquisitions, which are anticipated to further propel market growth. Despite these positive trends, challenges such as high failure rates in clinical studies and difficulties in early diagnosis may pose obstacles to market expansion.
Cholinesterase inhibitors remain a cornerstone in the therapeutic landscape for Alzheimer's disease, as they play a crucial role in delaying cognitive decline by inhibiting the breakdown of acetylcholine. The market for these inhibitors is expected to grow, supported by ongoing research and the introduction of new products. The North American region is projected to witness significant growth due to the high prevalence of Alzheimer's disease, a burgeoning aging population, and substantial investments in research and development. The competitive landscape is characterized by the presence of major players such as F. Hoffmann-La Roche, Bristol-Myers Squibb, and Eli Lilly and Company, who are actively involved in developing and launching new therapies. These dynamics, coupled with strategic acquisitions and regulatory approvals, are expected to drive the market forward, particularly in regions with a high burden of Alzheimer's disease.
Alzheimer's Disease Diagnostics And Therapeutics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Use of Biomarkers in Diagnosis and Drug Development
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1.2.2 Large Number of Drugs in Pipeline
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1.2.3 Emerging Novel Diagnostic Technologies
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1.3 Market Restraints
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1.3.1 High Failure Rates of Late-stage Drugs
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1.3.2 Lack of Surrogate Markers and Challenges in Early Diagnosis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 Product
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2.1.1 Therapeutics
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2.1.1.1 Cholinesterase Inhibitors
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2.1.1.2 NMDA Receptor Antagonists
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2.1.1.3 Other Therapeutics
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2.1.2 Diagnostics
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2.1.2.1 Brain Imaging
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2.1.2.2 CFS Test for Alzheimer's Disease
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2.1.2.3 Other Diagnostics
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle East and Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle East and Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Alzheimer's Disease Diagnostics And Therapeutics Market Size FAQs
How big is the Alzheimer's Disease Diagnostics And Therapeutics Market?
The Alzheimer's Disease Diagnostics And Therapeutics Market size is expected to reach USD 7.70 billion in 2024 and grow at a CAGR of 5.57% to reach USD 10.10 billion by 2029.
What is the current Alzheimer's Disease Diagnostics And Therapeutics Market size?
In 2024, the Alzheimer's Disease Diagnostics And Therapeutics Market size is expected to reach USD 7.70 billion.
