Alzheimer's disease (AD) is a progressive neurologic disorder that causes the brain to shrink (atrophy) and brain cells to die. It is thought to be caused by the abnormal build-up of proteins in and around brain cells. Alzheimer's is a progressive condition, which means the symptoms develop gradually over many years and eventually become more severe. An early Alzheimer's diagnosis provides people with a better chance of benefiting from treatment. Individuals with dementia can live meaningful and productive lives for many years after an early diagnosis. There is no cure for Alzheimer's, but available medications slow the worsening of dementia symptoms and help with behavioral problems. Therefore, with the increasing preface of AD, the demand Alzheimer’s diagnostics and therapeutics is also increasing.

Market Statistics:

The global Alzheimer’s disease diagnostics and therapeutics market is estimated to account for US$ 6,206.3 Mn in terms of value by the end of 2022.

Drivers:

High prevalence of Alzheimer's disease and growing geriatric population is expected to boost the growth of the global Alzheimer’s disease diagnostics and therapeutics market during the forecast period. For instance, Alzheimer's disease affects mainly older adults, and the growth in the number of older adults is unprecedented. It is currently ranked as the 7th leading cause of death in the United States and is the most common cause of dementia among older adults. According to the Centers for Disease Control and Prevention (CDC), in 2020, an estimated 5.8 million Americans aged 65 years or older had Alzheimer’s disease.

Opportunities:

Increasing demand for novel diagnostics and therapeutics is expected to offer lucrative growth opportunities for players in the global Alzheimer’s disease diagnostics and therapeutics market. For instance, in June 2021, Following the Food and Drug Administration’s (FDA) accelerated approval of ADUHELMTM (aducanumab-avwa) as the first and only Alzheimer’s treatment to address a defining pathology of the disease by reducing amyloid beta plaques in the brain, Biogen and Eisai announced a range of programs intended to support access for all qualified patients, including traditionally underserved populations.

Restraints:

High failure rates of late-stage Alzheimer’s drugs and lack of surrogate markers and challenges in early diagnosis are some major factors expected to hamper growth of the global Alzheimer’s disease diagnostics and therapeutics market. Biomarkers have a key role in Alzheimer's disease (AD) drug development. The availability of such surrogates will result in the rapid acceleration of AD drug development. However, the lack of surrogate biomarkers slows the process of AD drug development, restraining the growth of the market.

To know the latest trends and insights prevalent in the Global Alzheimer's Disease Diagnostics and Therapeutics Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/alzheimers-disease-diagnostics-and-therapeutics-market-5181

Global Alzheimer's Disease Diagnostics and Therapeutics Market - Impact of Coronavirus (Covid-19) Pandemic

Outbreak of COVID-19 has had a severe impact on the Alzheimer’s disease diagnostics and therapeutics market as diagnostic and therapeutic procedures across the globe were impacted due to the decline in visits to hospitals and diagnostic centres because of lockdown restrictions imposed by several governments worldwide to curb the spread of the virus. However, ongoing research is expected to drive growth of the market. For instance, scientific leaders, including the Alzheimer's Association and representatives from over 25 countries, are working together with technical guidance from the World Health Organization (WHO) to track the long-term impact of SARS-CoV-2 (COVID-19) on the brain.

Key Takeaways:

The global Alzheimer’s disease diagnostics and therapeutics market was valued at US$ 5,933.5 Mn in 2021 and is forecast to reach a value of US$ 8,603.9 Mn by 2028 at a CAGR of 5.6% between 2022 and 2028.

Among product, therapeutics segment held dominant position in the global Alzheimer’s disease diagnostics and therapeutics market in 2021, accounting for 84.9% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

  1. Emergence novel diagnostic technologies is expected to augment the growth of the global Alzheimer’s disease diagnostics and therapeutics market. For instance, in May 2022, the U.S. Food and Drug Administration (FDA) authorized the first in vitro diagnostic to help diagnose early Alzheimer’s disease. The agency said the test minimizes radiation risks to patients who otherwise would need to be tested with positron emission tomography (PET) scans.
  2. Frequent approvals and launches of novel therapeutics are expected to propel the growth of the global Alzheimer’s disease diagnostics and therapeutics market. For instance, in June 2021, the U.S. Food and Drug Administration (FDA) granted Breakthrough Therapy designation for donanemab, Eli Lilly's investigational antibody therapy for Alzheimer's disease (AD).

Competitive Landscape:

Major players operating in the global Alzheimer’s disease diagnostics and therapeutics market include Luye Pharma Group, Vigil Neuroscience, Grifols SA, Corium International Inc., Adamas Pharmaceuticals Inc., Abbvie Inc., Merz Pharma, Zydus Cadila, Siemens Healthineers AG, Apotex Inc., Lupin Limited, Eli Lilly & Company, Johnson & Johnson, Biogen Inc., Eisai Co. Ltd., Pfizer Inc., Merck & Co. Inc., Novartis AG, Hoffmann-La Roche Ltd., and Teva Pharmaceutical Industries Ltd., among others.

Recent Developments:

In March 2021, Deutsches Zentrum für Neurodegenerative Erkrankungen (DZNE) and Eisai Co. Ltd entered into a research collaboration agreement to create potential novel treatments for neurodegenerative disorders, including Alzheimer’s disease (AD).

In February 2020, Merck & Co. Inc. received approval from the Food and Drug  Administration  (FDA)  for  an  update  to  the prescribing information for BELSOMRA (suvorexant) C-IV to  include  findings  on  its  use  for  the  treatment  of insomnia in patients with mild-to-moderate Alzheimer’s disease.

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