The global Alzheimer’s therapeutics and diagnostics market is estimated to record a CAGR of 5.21% during the projected period of 2020-2028. The rising geriatric population, an increase in the pervasiveness of Alzheimers disease, research and development of novel diagnostics technologies, and drugs are the factors predicted to influence market growth.
The scope of the therapeutic market involves segments such as drug, disease, stage, generic, and branded. The diagnostics market consists of diagnostics biomarkers used for Alzheimer’s disease. The growing investments in biomarkers for the development of drugs and early detection of Alzheimers disease can lead to higher adoption rates of biomarker-based diagnostics and the development of new therapeutics, boosting the market growth. For example, in 2018, Duke University conducted research programs and clinical trials for the development of blood biomarkers of Alzheimers disease. Intensive research is going on in the field of drugs and medicines that are used for the treatment of Alzheimers disease. The adoption rate of Alzheimer’s drugs and biomarkers is high due to the increasing prevalence of the disease worldwide. The market faces the challenges of failure in later stages of clinical trials, strict government regulations for developing and commercializing drugs, and expensive therapies used for Alzheimer’s treatment.
The global market of Alzheimer’s disease therapeutics and diagnostics is analyzed by analyzing the regions of North America, Europe, Asia Pacific, and the Rest of the World. The region is also estimated to garner the largest market share during the forecast period. This is attributed to the growing geriatric population, high spending on healthcare, and the pervasiveness of Alzheimer’s disease across the US. The Asia Pacific market region is projected to record the fastest growth rate during the forecasted period.
The global Alzheimer’s disease therapeutics and diagnostics market’s competitive nature is fueled by the large presence of major industry players. Some of the well-known companies in the market include, GE Healthcare, Johnson & Johnson, Novartis AG, Sun Pharmaceuticals Industries Ltd., Pfizer Inc., etc.
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- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
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