Alzheimer's Disease Diagnostics and Therapeutics Market Size

Statistics for the 2023 & 2024 Alzheimer's Disease Diagnostics and Therapeutics market size, created by Mordor Intelligence™ Industry Reports. Alzheimer's Disease Diagnostics and Therapeutics size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Alzheimer's Disease Diagnostics and Therapeutics Industry

Alzheimer's Disease Diagnostics and Therapeutics Market Summary
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Study Period 2021 - 2029
Market Size (2024) USD 7.65 Billion
Market Size (2029) USD 9.78 Billion
CAGR (2024 - 2029) 5.06 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Alzheimer's Disease Diagnostics and Therapeutics Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Alzheimer's Disease Diagnostics & Therapeutics Market Analysis

The Alzheimer's Disease Diagnostics and Therapeutics Market size is estimated at USD 7.65 billion in 2024, and is expected to reach USD 9.78 billion by 2029, growing at a CAGR of 5.06% during the forecast period (2024-2029).

The emergence of the COVID-19 pandemic impacted the Alzheimer's disease diagnostics and therapeutics market, as diagnostic and therapeutic procedures worldwide were Alzheimer's due to the decline in visits to hospitals and diagnostic centers because of government regularizations globally in early 2020. For instance, an article published in Brain Sci. in February 2021 stated that patients with dementia were at increased risk of severe disease and death when infected with COVID-19. Thus, as a measure of prevention, there is a decrease in the treatment and diagnostic visits to hospitals and other healthcare facilities. However, as better access to affectedAlzheimer'sr's diagnostic and therapeutic services is currently compared to the initial pandemic times, the market is expected to regain its growth pace over the studied period.

The major factors driving the growth of the Alzheimer's disease diagnostics and therapeutics 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 2022, 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 market's growth. For instance, in June 2021, the ADDF Diagnostics Accelerator launched four new research investments to develop digital biomarkers for Alzheimer's diagnosis. Investments like these are further expected to propel the market growth.

Additionally, with the advancement in diagnostic technologies and ongoing research activities in the area, the companies are enhancing their product offering and launching new products coupled with other business expansion initiatives like mergers and acquisitions, strategic collaboration, and new investments into other companies are also expected to complement the growth of the Alzheimer's disease diagnostics and therapeutics market over the forecast period. For instance, in November 2021, Brigham and Women's Hospital in Boston, United States, started a clinical trial to test the safety and efficacy of a new nasal vaccine for Alzheimer's disease. Thus, such therapeutics development leads to better drugs for Alzheimer's treatments, thereby driving the growth of the studied market.

Thus, due to the use of biomarkers, increasing research and development, and advanced diagnostic technologies, the studied market is expected to witness healthy growth over the forecast period. 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 Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)