Alzheimers Disease Diagnostic Market Size
Alzheimers Disease Diagnostic Market size was USD 3.3 billion in 2021 and projected to grow from USD 4.0 billion in 2023 to USD 9.6 billion by 2032, exhibiting a CAGR of 10.2% during the forecast period.
Alzheimer's is a brain illness that gradually impairs thinking and memory abilities as well as the capacity to do even the most basic tasks. Growing age is the key known risk aspect for the said disease. Alzheimer's is diagnosed by doctors using a patient's mental status tests, medical history, neurological and physical examinations, diagnostic tests, and brain imaging. The illness is the most typical cause of dementia in elderly people.
Market Highlights
Alzheimers Disease Diagnostic Market is expected to project a CAGR of 10.2% during the forecast period, 2022-2032
Alzheimers Disease Diagnostic Market is expected to reach USD 9.6 billion, growing at a CAGR of 10.2% during the forecast period owing to increasing number of chronic illnesses like dementia, rising pipeline medicine development, and funding in biomarkers for development of drugs. The expanding treatment choices and better diagnostic procedures for the early finding of chronic illnesses is another major driver for the growth of the Alzheimers Disease Diagnostic Market.
Alzheimers Disease Diagnostic Market Segmentation
Early Onset Alzheimers segment is expected to dominate in the forecast period
Alzheimers Disease Diagnostic Market is classified based on the Type into Early Onset Alzheimers, Late Onset Alzheimers, Familial Alzheimers Disease, and Others. The Early Onset Alzheimers segment registered a major market share in 2022 and will continue to lead over the forecast period. This is supported by the increasing demand for diagnostic testing to identify Alzheimer's at an early stage.
PET segment is expected to dominate in the forecast period
Alzheimers Disease Diagnostic Market is classified based on the Diagnostic Test into PET, SPECT, Blood based ELISA Test, CSF Assays, and Others. PET diagnostic test segment is anticipated to lead the market over the estimated period. PET is a nuclear molecular imaging method that uses radiopharmaceuticals (tracers) that have been marked using an isotope which emits positron to help visualize in vivo cellular metabolism. The approach determines the speed of uptake of these radiotracers in specifically selected cells throughout the body of a patient by detecting the positrons released during the radiotracer decay. The use of PET is crucial in the treatment of Alzheimer's disease.
Market Dynamics
Growth Drivers
Global Rise in Chronic Illnesses and Improvements in Diagnostics and Detection of Alzheimers is Expected to Boost the Market Growth
Growth in chronic illnesses like dementia on the global scale and the endeavors for drug development for a complete cure and therapy are the main factors driving the Alzheimer's Disease Diagnostic Market. The contribution of technical advancements to the improvement of detection and diagnosis of the disease is another factor impacting the market. Furthermore, another factor propelling the Alzheimers Disease Diagnostic Market is the advancement of mature diagnostics for early detection.
Number of Government Initiatives and Funding by Institutions for R&D are Expected to Boost the Market Growth
Research and development efforts to find the primary treatment for Alzheimers are receiving significant funding from government programs, medical, and academic institutions. The Alzheimers Disease Diagnostic Market is expected to grow over the projected period due to increasing pathological investigations and clinical studies with research and development.
Restraint
Lengthy Clinical Trials and Huge Investments with Risk of Failure May Restrain the Market Growth
The lengthy clinical trials and clearances by the medical experts are the main barrier impeding the growth of the market. Large investments and the possibility of failure might also restrain the industry growth.
Recent Developments
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The US (FDA) granted Biogen & Eisai Co. a biological license in 2021 for a treatment called Aducanumab, which is monitored for the purpose of treating and curing Alzheimer's disease.
- The Alzheimer's diagnosis, surveillance, and treatment will be the focus of a collaboration agreement signed by Eli Lilly & business with the life sciences business Quanterix in March 2022.
Alzheimers Disease Diagnostic Market
Key Players Covered:
- Johnson & Johnson
- Novartis AG
- F. Hoffmann-La Roche Ltd
- Pfizer Inc.
- Merck & Co.
- GE Healthcare
- AbbVie
- Eli Lilly and Company
- Daiichi Sankyo
- Sysmex
- Quanterix
- Alector LLC
- Corium Inc
- TauRx Therapeutics
- Cognition Therapeutics Inc
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Regional Analysis
Alzheimers Disease Diagnostic Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America held the major market share and is expected to expand quickly throughout the projection period due to the rising prevalence of Alzheimer's disease and the significance of the disease diagnostics in the region. The considerable technology improvements, particularly in the US, and also the growing elderly population are the main factors affecting the region's growth in the global market. Also, the advancement of the Alzheimers Disease Diagnostic Market in general is greatly influenced by the presence of cutting-edge tools for medication discovery in the area.
Impact of Covid-19 on Alzheimers Disease Diagnostic Market
The Alzheimers Disease Diagnostic Market was significantly impacted by the COVID-19 pandemic. The pandemic overloaded many healthcare facilities with COVID-19 patients, which decreased cases of Alzheimer's disease diagnosis and prolonged treatment times. The need for diagnostic procedures and services related to Alzheimer's disease was decreased due to this. Besides, the epidemic also hampered the development and distribution of diagnostic tools for Alzheimer's disease. This has further harmed the market by causing a lack of tests and other equipment.
Alzheimers Disease Diagnostic Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Alzheimers Disease Diagnostic Market Scope and Segments:
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 10.2% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Type |
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Diagnostic Test |
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|
End User |
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By Region |
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Frequently Asked Questions (FAQ):
Alzheimers Disease Diagnostic Market size was estimated at USD 3.3 billion in 2021 and is expected to reach USD 9.6 billion in 2032.
Alzheimer's is a brain illness that gradually impairs thinking and memory abilities as well as the capacity to do even the most basic tasks. Growing age is the key known risk aspect for the said disease.
Early Onset Alzheimers and PET segments accounted for the largest Alzheimers Disease Diagnostic Market share.
Key players: Johnson & Johnson, Novartis AG, F. Hoffmann-La Roche Ltd, Pfizer Inc., Merck & Co., GE Healthcare, AbbVie, Eli Lilly and Company, Daiichi Sankyo, Sysmex, Quanterix, Alector LLC, Corium Inc, TauRx Therapeutics, Cognition Therapeutics Inc, and Other Prominent Players are the key players in the Alzheimers Disease Diagnostic Market.
Rising geriatric population and growing demand for increase in the number of medical facilities and diagnostic treatment are the factors driving the Alzheimers Disease Diagnostic Market.
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