Unlocking Opportunities in the Alzheimer’s Disease Diagnostic Market: Key Growth Trends and Forecast Insights
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What is the Growth Potential of the Alzheimer’s Disease Diagnostic Market, and How Will It Perform by 2034?
The market size for Alzheimer’s disease diagnostics has been expanding swiftly in the past years. From being worth $6.56 billion in 2024, it is expected to swell to $7.28 billion by 2025 with a compound annual growth rate (CAGR) of 11%. The impressive growth during the historical period is due to an increased number of Alzheimer’s disease and dementia cases, heightened awareness about the necessity of timely diagnosis for efficient management, progress in imaging technologies like MRI and PET scans, more funds being allocated for research and development in the domain of neurodegenerative diseases, and government-led initiatives and financial support for research and diagnostic processes associated with Alzheimer’s.
Rapid expansion is anticipated in the Alzheimer’s disease diagnostic market size in the coming years, with its worth predicted to reach $10.91 billion by 2029, progressing at a compound annual growth rate (CAGR) of 10.7%. This surge over the projected period can be ascribed to factors such as the evolution of non-invasive diagnosis through blood-based biomarkers, the escalating requirement for personalized medicine and precision diagnostics, incorporation of AI and machine learning into diagnostic instruments for early detection, augmented uptake of digital health technologies for remote supervision and diagnosis, and the broadening of healthcare infrastructure in growing markets to boost accessibility. Notable trends in the prediction time frame include the development of multi-modal diagnostic tactics that merge imaging, biomarkers, and cognitive examinations, a heightened emphasis on rapid result point-of-care diagnostic solutions, the creation of wearable technology for constant cognitive health monitoring, increasing partnerships between biotech firms and research enterprises for inventive solutions, and growth in direct-to-consumer genetic testing for evaluating Alzheimer’s risk.
How Are the key drivers Contributing to the Expansion of the Alzheimer’s Disease Diagnostic Market?
Forecasted growth in the alzheimer’s disease diagnostic market is attributed to the anticipated rise in chronic illnesses, conditions which persist for over three months. This escalation in chronic illness is linked to numerous interrelated factors, including lifestyle decisions, environmental impacts, genetic factors, and soci-economic standing. Chronic health issues like heart disease, diabetes, and hypertension enhance vulnerability to Alzheimer’s disease (AD) and other dementia types. As per a report from the American Heart Association Inc., a US-based nonprofit volunteer organization, in January 2022, it’s projected that brain disorders in the US will rise to 9.3 million by 2060, a figure that’s currently on the increase, with one in six people worldwide affected by a brain disease. It’s estimated that by the end of 2021, 1 billion people worldwide will be dealing with brain disorders. Consequently, the surge in chronic illnesses is likely to stimulate the alzheimer’s disease diagnostic market’s growth.
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Who Are the Major Companies Shaping the Competitive Landscape of the Alzheimer’s Disease Diagnostic Market?
Major companies operating in the alzheimer’s disease diagnostic market are Pfizer Inc., AbbVie, Bristol Myers Squibb Company, Hoffmann-La Roche, Eli Lilly and Company, Siemens Healthineers AG, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Daiichi Sankyo Co., Sysmex, Lantheus, Quanterix, FujireBio, TauRx Pharmaceuticals Ltd, AC Immune, C2N diagnostics, AXON Neuroscience, Neuro-Bio Ltd, Anavex Life Sciences Corp., Treventis Corporation
What Are the Key Emerging Trends in the Alzheimer’s Disease Diagnostic Market for the Next Decade?
Leading entities in the Alzheimer’s disease diagnostic market are centering their efforts on enhancing the development of blood-based biomarker tests. This advancement promises to simplify the diagnosis process for Alzheimer’s disease, lessen dependency on more invasive methods, and amplify access to prompt treatment for patients. Quanterix, an American biotechnology research firm, introduced the LucentAD p-Tau 217 test, an Alzheimer’s pathology biomarker noted for its clinical sensitivity and specificity in blood, in October 2023. Conventionally, cerebrospinal fluid (CSF) biomarkers leaned heavily on positron emission tomography (PET) or lumbar puncture, both of which are expensive, invasive and not extensively accessible. Moreover, the firm merges its super-sensitive SimoaÒ technology with J&J Innovative Medicine’s thoroughly examined p-Tau 217 antibodies, resulting in remarkable accuracy and a streamlined process.
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What Are the Core Categories and Segments in the Alzheimer’s Disease Diagnostic Market Driving Demand and Growth?
The alzheimer’s disease diagnostic market covered in this report is segmented –
1) By Type: Triage, Diagnosis, Screening
2) By Diagnostic Technique: Biomarkers, Imaging Techniques, Genetic Testing, Cognitive Assessment Tests
3) By End User: Clinics, Hospitals, Diagnostic Centers, Pharmaceutical Companies, Academic Research Center
Subsegments:
1) By Triage: Cognitive Testing, Imaging Techniques
2) By Diagnosis: Biomarker Testing, Neuroimaging
3) By Screening: Neuropsychological Testing, Genetic Testing
Which Regions Are Making a Mark in the Alzheimer’s Disease Diagnostic Market Growth?
North America was the largest region in the alzheimer’s disease diagnostic market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the alzheimer’s disease diagnostic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Alzheimer’s Disease Diagnostic Market Categorized and Defined in the Industry?
Alzheimer’s disease diagnostics encompass methods and tools used to detect and confirm the presence of Alzheimer’s disease, a progressive neurodegenerative disorder. These diagnostics include cognitive assessments, imaging techniques such as magnetic resonance imaging (MRI) and positron emission tomography (PET) scans, and biomarker tests analyzing cerebrospinal fluid (CSF) or blood for amyloid-beta and tau proteins.
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