Press release
Alzheimer's Diagnostics And Therapeutics Market Set to Reach US$ 14.8 Billion by 2033 with Strong 8.4% CAGR
Alzheimer's Diagnostics And Therapeutics Market
Many research activities regarding the development of diagnostic technologies are going on in the world for the treatment of Alzheimer's. In addition to the traditional medical and neurological processes, new technologies are assisting in the diagnosis and treatment of Alzheimer's disease. New diagnostic criteria are helping to identify validated diagnostic biomarkers.
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Many new technologies are being used to monitor Alzheimer's disease and to detect its progression over time, which guides individuals in maintaining and tracking their activities. Much new research has emerged that investigates cloud-based solutions to dementia and Alzheimer's disease, including care, treatment, and diagnosis. There are several drugs in the pipeline for the treatment of Alzheimer's disease, which is expected to receive regulatory approvals in the coming years. For instance, Biogen's Aducanumab received FDA approval in 2021, making it the first new drug for Alzheimer's disease in almost 20 years. Such pipeline developments could drive the growth of the Alzheimer's therapeutics market.
Advancements in imaging technologies such as positron emission tomography (PET) and magnetic resonance imaging (MRI) have allowed for improved detection of structural and functional changes in the brain associated with Alzheimer's disease. Several new drug therapies have emerged in recent years, including monoclonal antibodies that target beta-amyloid and tau proteins. These drugs have shown promise in slowing or halting the progression of the disease. Gene therapy is a promising approach to treating Alzheimer's disease by delivering therapeutic genes to affected areas of the brain. While still in the experimental stages, this approach has shown potential in preclinical studies.
Overall, these advancements in diagnostics and therapeutics are helping to improve the understanding of Alzheimer's disease and develop more effective treatments for this devastating condition.
Moreover, the Alzheimer's diagnostics and therapeutics market is expected to grow in the coming years due to the increasing aging population, advancements in diagnostics and therapeutics, pipeline developments, rising healthcare spending, and technological advancements.
Key Takeaways from the Market Study:
Diagnostics is the leading segment by product, and held a 1% market value share in 2022, owing to new technologies that are being used to monitor Alzheimer's disease and to detect its progression.
By distribution channel, institutional sales are leading in the global Alzheimer's diagnostics and therapeutics market, and are expected to continue to do so with a projected CAGR of 3% during the forecasted years.
North America is considered the leading region with a value share of 0% in 2022, as there is a growing number of people in the U.S. who are at risk of developing Alzheimer's disease.
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Market Competition:
Eisai Inc., AlzeCure Pharma, TrueBinding, Inc., and Cognition Therapeutics are some of the key players who are involved in the clinical trials, among others in the study of Alzheimer's diagnostics and therapeutics. Many companies strategize to acquire any competitor or company that generates less revenue. The business alliance aims to support the distribution of the product portfolio across developed regions and emerging players are focusing on expanding to strengthen their product portfolio.
-In March 2022, AbbVie acquired Syndesi Therapeutics to expand its Neuroscience Portfolio.
-In February 2022, Janssen and partnered company AC Immune found that at an early stage, the Alzheimer's vaccine activates the induction of antibodies that attack tau, a type of protein.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Alzheimer's diagnostics and therapeutics market in its latest study, presenting a historical demand assessment of 2012 - 2022 and projections for 2023 - 2033. The Alzheimer's diagnostics and therapeutics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader
The research study is based on the product - {Therapeutics (cholinesterase inhibitors, NMDA receptor antagonists, and manufactured combination), and Diagnostics (lumbar diagnostics test, CT Scan, MRI, EEG, and PET scan)}, by distribution channel {institutional sales (hospitals, specialty clinics, and diagnostic centers), and retail sales {retail pharmacies, drug stores, and online pharmacies)}, and by seven key regions of the world.
Key Market Segments Covered in Alzheimer's diagnostics and therapeutics Industry Research
By Product:
>Therapeutics
-Cholinesterase Inhibitors
-NMDA Receptor Antagonists
-Manufactured Combination
>Diagnostics
-Lumbar Diagnostics Test
-CT Scan
-MRI
-EEG
-PET scan
By Distribution Channel:
>Institutional Sales
-Hospitals
-Specialty Clinics
-Diagnostic Centers
>Retail Sales
-Retail Pharmacies
-Drug Stores
-Online Pharmacies
By Region:
-North America
-Latin America
-Europe
-South Asia
-East Asia
-Oceania
-Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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