Global Alzheimers Disease Diagnostics and Therapeutics Market Size to grow USD 21704.4 Million by 2030 | CAGR of 5.5%Category: Healthcare
Alzheimer's Disease Diagnostics and Therapeutics Market worth $21704.4 million by 2030
According to a research report published by Spherical Insights & Consulting, the Global Alzheimers Disease Diagnostics and Therapeutics Market will be USD 5,933.5 million in 2021 to USD 21704.4 million by 2030, at a CAGR of 5.5% during the forecast period. The increasing use of biomarkers in Alzheimer's diagnosis and the development of new drugs are the primary factors driving the expansion of the Alzheimer's disease diagnostics and therapeutics market. Another important factor is the rising incidence of Alzheimer's disease worldwide.
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Browse key industry insights spread across 230 pages with 136 market data tables and figures & charts from the report "Global Alzheimers Disease Diagnostics and Therapeutics Market Size, Share, and COVID-19 Impact Analysis By Therapeutics (Cholinesterase Inhibitors, NMDA Receptor Antagonists, and Other Therapeutics), By Diagnostics (Brain Imaging and CSF Test for Alzheimers Disease), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." in detail along with the table of contents https://www.sphericalinsights.com/reports/alzheimers-disease-diagnostics-and-therapeutics-market
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Alzheimer's disease is a neurological condition that often begins with mild symptoms and gradually becomes more severe. It is a kind of dementia that worsens over time and is characterized by a gradual loss of a person's cognitive, behavioral, and social abilities, which interferes with their capacity to carry out daily tasks independently. Alzheimer's throughout the globe, governments and non-government organizations are making significant investments in the research and development of diagnostics and therapies for the illness, which may contribute to expanding the market. For instance, in June of 2021, the Alzheimer's Drug Discovery Foundation (ADDF) Diagnostics Accelerator released four new research investments to create digital biomarkers for Alzheimer's disease diagnosis. It is anticipated that investments of this nature would further push the expansion of the industry.
Additionally, due to developments in diagnostic technologies and ongoing research activities, businesses are enhancing their product offerings and releasing new products. This, in conjunction with other business expansion initiatives such as mergers and acquisitions, strategic collaboration, and new investments into other companies, is anticipated to contribute to the growth of the Alzheimer's disease diagnostics and therapeutics market throughout the forthcoming period. For example, in August of 2019, a business by the name of Oxford Brain Diagnostics was established. This firm is a spinoff from Oxford University, and its mission is to develop a novel way of detecting Alzheimer's disease using MRI scans. On the other hand, high failure rates of clinical studies related to diagnosis and treatment and difficulties in early diagnostics of Alzheimer's disease, are expected to impede the growth of the market for Alzheimer's disease diagnostics and therapeutics throughout the forecast period.
The cholinesterase inhibitors segment to account for the largest market size during the forecast period
Based on therapeutics type, the Alzheimer's disease diagnostics and therapeutics market is categorized into cholinesterase inhibitors, NMDA receptor antagonists, and other therapeutics. In 2021, cholinesterase inhibitors dominated the market with the largest market share of 65% and revenue of 3856.7 million. Cholinesterase inhibitors, also known as acetylcholinesterase inhibitors, are a type of medicine that prevents the natural breakdown of acetylcholine, which is a neurotransmitter. Cholinesterase inhibitors are also known as acetylcholinesterase inhibitors. Cholinesterase inhibitors are the most effective treatments for Alzheimer's disease that are currently on the market. As a result, it is anticipated that the sector will expand throughout the projection period because several pharmaceutical firms are working on the development of Alzheimer's therapies that are based on cholinesterase inhibitors.
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North America is Expected to be the largest Market.
The market for Alzheimer's disease diagnostics and therapeutics in the North American region has been expanding owing to the increasing rising R&D activities by several small and medium enterprises to develop medical healthcare facilities in the healthcare sector. Furthermore, the U.S has kept its R&D tax credit low which increases the demand for Alzheimer’s Disease Diagnostics and Therapeutics in the market. Also, the population of elderly people in the region is rising at an alarming rate; however, America and Canada have the most prosperous aging populations due to social security payments by the government. For instance, the Nordson Corporation launched a Polyurethane Tubing named 80 Durometer medical tubing for medical applications.
The Asia Pacific market is expected to grow at the fastest CAGR between 2022 and 2030, owing to the increasing demand for several applications such as catheters & cannulas, drug delivery systems, Alzheimer’s Disease Diagnostics and Therapeutics equipment, and other special applications (smoke evacuation tubing and peristaltic pump tubing). In addition, the increase in healthcare accessibility and the rapidly growing demand for minimally invasive medical procedures adds impetus to the market’s growth in the region. The multiplying middle-class population in China and India increases the demand for minimally invasive techniques. There is an advancement in the efficient medical devices in the region coupled with the increasing interest of people in taking care of elderly people at home with easy & simple products.
Major global Alzheimer's disease diagnostics and therapeutics market vendors include Luye Pharma Group, Vigil Neuroscience, Grifols SA, Corium International Inc., Adamas Pharmaceuticals Inc., Abbvie Inc., Merz Pharma, Zydus Cadila, Siemens Healthineers AG, Lupin Limited, Johnson & Johnson, Pfizer Inc., Novartis AG, Apotex Inc., Eli Lilly & Company, Biogen Inc., Eisai Co. Ltd., Merck & Co. Inc., Hoffmann-La Roche Ltd., and Teva Pharmaceutical Industries Ltd.
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Frequently Asked Questions (FAQ)
What is the market size of the Alzheimers Disease Diagnostics and Therapeutics market?As per Spherical Insights, the size of the Alzheimers Disease Diagnostics and Therapeutics market was valued at USD 5,933.5 million in 2021 to USD 21704.4 million by 2030.
What is the market growth rate of the Alzheimers Disease Diagnostics and Therapeutics market?The Alzheimers Disease Diagnostics and Therapeutics market is growing at a CAGR of 5.5% from 2021 to 2030.
Which country dominates the Alzheimers Disease Diagnostics and Therapeutics market?North America emerged as the largest market for Alzheimer's Disease Diagnostics and Therapeutics.
Who are the key players in the Alzheimers Disease Diagnostics and Therapeutics market?Key players in the Alzheimers Disease Diagnostics and Therapeutics market are Luye Pharma Group, Vigil Neuroscience, Grifols SA, Corium International Inc., Adamas Pharmaceuticals Inc., Abbvie Inc., Merz Pharma, Zydus Cadila, Siemens Healthineers AG, Lupin Limited, Johnson & Johnson, Pfizer Inc., Novartis AG, Apotex Inc., Eli Lilly & Company, Biogen Inc., Eisai Co. Ltd., Merck & Co. Inc., Hoffmann-La Roche Ltd., and Teva Pharmaceutical Industries Ltd.
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