Global
Alzheimer’s disease Diagnostic Market - Overview
The global Alzheimer’s
disease therapeutics and diagnostic market is
growing at a sound pace; mainly due to the increasing prevalence of the disease
making it one of the major drivers for the market. According to a recent study
report published by the Market Research Future, the global Alzheimer’s disease
diagnostic market is booming and expected to gain prominence over the forecast
period. The market will demonstrate a spectacular growth by 2022, surpassing
its previous growth records in terms of value with a sound CAGR during the
anticipated period (2017 – 2022).
The
major drivers will be the increasing per capita healthcare expenditure and
growing geriatric population. With it the market for diagnostic test, including
diagnostic molecules and assays will contribute significantly to the health and
wellbeing of the patients.
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In
2017, according to the Alzheimer's Association, 5.5 million Americans lives
with Alzheimer's dementia, and estimated 5.3 million are at 65 years old or
above. Moreover, according to the National Institute of Health, the global
geriatric population is expected to reach 1.6 billion by 2050 from 617 million
in 2016. From the illustrated facts it is clear that the market will grow
significantly in the presence of the need of diagnostics.
Global Alzheimer’s Disease Diagnostic Market - Competitive
Analysis
Characterized
by the presence of several well-established and small players, the global
market of Alzheimer’s disease diagnostic appears to be highly competitive and
fragmented. International players are increasingly expanding their footprint in
the developing economy, making it difficult for regional vendors to compete
with them, especially in terms of features such as product differentiation,
product portfolios, quality, and pricing. The market is witnessing
intensified competition which is expected to get more intensified further
during the forecast period. The intense competition prevalent in the market
dictates the consolidation among players.
Well
established players followed acquisition, collaboration, partnership,
expansion, and product launch in order to gain competitive advantage in this
market and to maintain their market position.
Eli Lilly and Company is one of the major players in the global
Alzheimer’s disease diagnostic market. The total revenue generated by the
company in 2016 was reported to be approximately around 21.2 billion. Followed
by such huge revenue the company invested 24.7% of its revenue on the research
and development. Following such a trends from the past few years, Eli Lilly and
Company became a global leader in the fight against Alzheimer’s disease and it
is leading the market since last 30 years. Today, Eli Lilly and Company has
molecules to treat and diagnose Alzheimer’s disease in various stages of
clinical development, including seven investigational compounds to treat
Alzheimer’s disease and two diagnostics to help better diagnose the disease
condition. To enhance the product development and commercialization the company
in Jan. 27, 2016 announced an arrangement to partner with Roche Diagnostics on
its ongoing development of a commercially scalable cerebrospinal fluid assay
for amyloid-beta 1-42.
Eli Lilly and Company. (U.S.), TauRx (Asia Pacific), Accera, Inc.
(U.S.), Treventis Corporation. (U.S.), Neuro-Bio Ltd (Europe), CogRx (U.S.) are
some of the prominent players at the forefront of competition in the Global
Alzheimer’s disease diagnostic Market and are profiled in MRFR Analysis.
Global Alzheimer’s disease Diagnostic Market - Regional Analysis
The global market is led by the Americas. Rising per capita
healthcare expenditures, presence of global players like CogRx and Accera, Inc.
along with a huge patient population drives the market growth within the
region. In 2015, according to the Centres for Disease Control and Prevention,
in the U.S. the total healthcare expenditure accounted for 17.8% of the total
gross domestic product (GDP), which accounted for USD 3.2 trillion. Europe is
the second largest market. Huge patient population, increasing government support
the R&D fuels the market growth within the region. According to the
Alzheimer's Society, the number of the patients suffering from dementia in the
U.K is expected to reach over one million by 2025. Asia Pacific region consists
of the developing economies like India & China making it to be the fastest
growing region. The Middle East & Africa region holds the least
share, especially due to the African region. The Middle East region holds the
market of this region due to huge healthcare expenditures.
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