Alzheimer's Disease Diagnostic - Market Insights, Competitive Landscape, and Market Forecast - 2030

Alzheimer's disease (AD) diagnostic market by diagnostics type (brain imaging [computed tomography (ct), magnetic resonance imaging (MRI), positron emission tomography (PET), and others], genetic testing, blood based tests, and others), by end-user (hospitals & clinics, diagnostic centers, and others), and by geography is expected to advance at a respectable CAGR forecast till 2027 owing to the increasing prevalence and incidence of brain injury, dimentia, alzheimer's diseases, and others, and the rising burden of geriatric population across the globe.

The global Alzheimer's disease (AD) diagnostic market will grow at a CAGR of 10.97% during the forecast period from 2022 to 2027. The Alzheimer's disease (AD) diagnostic market is observing an optimistic market growth due to the factors such as rise in the regulatory approvals for Alzheimer's disease (AD) diagnostics across the globe. Further, the rising prevalence of head injuries owing to the accidents, workplace injuries, and others, and the rise in geriatric population will increase the prevalence of Alzheimer disease, thereby increasing the demand of the Alzheimer disease diagnostic devices across the globe. Additionally, the increasing research and development of novel biomarkers, presence of key players in the market, increasing product launches and approvals, and other will create a requisite for Alzheimer disease diagnostics in the upcoming years. Therefore, the market for Alzheimer's disease (AD) diagnostic is estimated to grow at a substantial CAGR during the forecast period from 2022 to 2027.

ALZHEIMER'S DISEASE (AD) DIAGNOSTIC MARKET DYNAMICS:

One of the key aspect for driving the Alzheimer's disease (AD) diagnostic market is the rising prevalence of dementia across the globe. Alzheimer's is a type of dementia that affects memory, thinking and behavior. Thus, the increasing prevalence of dementia will increase the prevalence of Alzheimer disease, ultimately increasing the demand of its diagnostic devices. For instance, as per the World Health Organization (WHO) 2022, it was concluded that, worldwide, around 55 million people have dementia, with over 60% living in low- and middle-income countries. Also, as the proportion of older people in the population is increasing in nearly every country, this number is expected to rise to 78 million in 2030 and 139 million in 2050.

Furthermore, the rising regulatory approval for Alzheimer's disease (AD) diagnostic is expected to be another key factor for driving the Alzheimer's disease (AD) diagnostic market. Various product launches in this arena is several markets is driving the market growth.

For instance, in May 2022, Fujirebio Diagnostics, a global leader in the field of high quality in vitro diagnostics (IVD), received a green light from the US Food and Drug Administration (FDA), for its Lumipulse G β-Amyloid Ratio (1-42/1-40) test, which is designed for people who have cognitive impairment and are 55 years of age or older. The test was also designated as a breakthrough device, allowing it to pass through a quicker review procedure for goods that fill an unmet need.

Additionally, in February 2022, Diadem, pure diagnostic company, received CE-IVD mark for its non-invasive plasma-based AlzoSure Predict prognostic blood test which is used to detect Alzheimer's disease (AD) in the early stages.

Hence, the rising regulatory approvals for Alzheimer's disease (AD) diagnostic showing the need for diagnosis test owing to the rising prevalence of disease, thereby driving the Alzheimer's Disease (AD) Diagnostic overall market during the forecast period from 2022-2027.

Therefore, the factors stated above collectively will drive the overall for Alzheimer's disease (AD) diagnostic market during the forecast period from 2022-2027.

However, high cost of brain imaging, stigma and lack of awareness about the diagnosis of Alzheimer disease, and others may prove to be challenging factors for Alzheimer's disease (AD) diagnostic market growth.

The Alzheimer's disease (AD) diagnostic market was negatively impacted during the period of COVID- 19 pandemic owing to the decreased number of diagnostics tests due to the huge spread of COVID-19 infection across the globe. Further, in order to curb the spread of infection the government across the globe imposed strict lockdown rules, resulting in the shortage of supply chains, raw materials, and other resources in the market, leading to the decreased manufacturing of all the medical devices. Moreover, the patients and physicians postponed many elective surgeries, diagnostic tests, laboratory visits, and other healthcare facilities in order to stop the spread of the infection, thereby decreasing the number of in-patient visits in hospitals and clinics for diagnosis and treatment. However, vaccine development of COVID-19 has initiated the process of economic recovery with the easing of lockdown restrictions and the return of normalcy in the economic landscape, which has initiated the process of resumption of regular healthcare services such as regular out-patients visits for treatments and diagnosis in hospitals, clinics, and laboratories, thereby bringing the demand for products on track in the alzheimer's disease (AD) diagnostic devices market.

ALZHEIMER'S DISEASE (AD) DIAGNOSTIC MARKET SEGMENT ANALYSIS:

Alzheimer's Disease (AD) Diagnostic Market by Diagnostics Type (Brain Imaging [Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET), and Others], Genetic Testing, Blood Based Tests, and Others), End-User (Hospitals & Clinics, Diagnostic Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the diagnostics type segment of the Alzheimer's disease (AD) diagnostic market, the computer tomography (CT) segment is expected to have a significant revenue share in the year 2021. This was primarily owing to the key benefits related to computer tomography (CT).

For instance, CT scans are used to detect the loss of brain mass linked to Alzheimer's Disease (AD) as well as they allows to take a detailed look inside the brain.

Further, it helps to collect multiple images of an area of the brain from different angles. Additionally, the scan helps to differentiate Alzheimer's disease (AD) from other types of dementia such as vascular dementia, mixed dementia, and others.

Moreover, increased launches of CT scans for brain imaging also increases the Alzheimer's disease (AD) diagnostics market demand. For instance, in May 2021, Koninklijke Philips N.V, a global leader in health technology, announced the launch of its pectral detector-based Spectral Computed Tomography (CT) 7500 system. The system delivers high quality spectral images for every patient including head scans and others.

Therefore, owing to the advantages and applications associated with CT segment along with the increasing product launches in the market, the category is expected to witness a considerable growth eventually contributing to the overall growth of the global Alzheimer's disease (AD) diagnostic market during the forecast period.

NORTH AMERICA IS EXPECTED TO DOMINATE THE OVERALL ALZHEIMER'S DISEASE (AD) DIAGNOSTIC MARKET:

Among all the regions, North America is expected to dominate the global medical device testing services in the year 2021 and is expected to do the same during the forecast period from 2022-2027. This can be ascribed to rising prevalence of head injuries, rise in geriatric population, rising product launches and approvals in the region, the presence of key market players in the region, and others will increase the demand of Alzheimer's disease (AD) diagnostic in the given forecast period.

For instance, according to the latest data available from the American Society for Biochemistry and Molecular Biology data published in the year 2021, in the United States, a brain injury occurs every nine seconds, resulting in more than 3.5 million incidents each year. Moreover, as per the above referenced source and statistics, about 2.8 million people suffers from traumatic brain injury (TBI) each year in the United States from which 2,80,000 resulting in hospitalizations. Therefore, rising cases for head injuries such as Traumatic Brain Injury (TBI) includes the high risk for developing the Alzheimer's disease.

Also, the increasing prevalence of Alzheimer disease in the United States will drive the market of the diagnostic devices. As per the data provided by the Alzheimer Association (2022), more than 6 million Americans are living with Alzheimer's. By 2050, this number is projected to rise to nearly 13 million. The increasing prevalence of Alzheimer disease in the United States will increase the demand of its diagnostics devices, ultimately leading to the increased overall market growth.

Therefore, the interplay of the aforementioned factors above would provide a conducive growth environment for the North American region in the Alzheimer's disease (AD) diagnostic market.

ALZHEIMER'S DISEASE (AD) DIAGNOSTIC MARKET KEY PLAYERS:

Some of the key market players operating in the Alzheimer's Disease (AD) Diagnostic market includes F. Hoffmann-La Roche Ltd., General Electric Company, 23andMe, Inc., Lilly, Fujirebio, Siemens Medical Solutions USA, Inc., Diadem srl., Todos Medical, DISCERN™, FUJIFILM Holdings America Corporation, Koninklijke Philips N.V., CANON MEDICAL SYSTEMS EUROPE B.V., Shimzadu Corporation., Laboratory Corporation of America® Holdings, Bruker, Magnetica., IMRIS, Deerfield Imaging, Inc., MR Solutions, Hyperfine, Inc., Neusoft Corporation, and others.

RECENT DEVELOPMENTAL ACTIVITIES IN ALZHEIMER'S DISEASE (AD) DIAGNOSTIC MARKET:

• In May 2022, the U.S. Food and Drug Administration today permitted marketing for the first in vitro diagnostic test for early detection of amyloid plaques associated with Alzheimer's disease.
• In May 2020, Lilly, a global health care leader, received US Food and Drug Administration (FDA) approval for its TAUVID™, a radioactive diagnostic agent for positron emission tomography (PET) imaging of the brain to estimate the density and distribution of aggregated tau neurofibrillary tangles (NFTs) in adult patients with cognitive impairment who are being assessed for Alzheimer's disease (AD).

KEY TAKEAWAYS FROM THE ALZHEIMER'S DISEASE (AD) DIAGNOSTIC MARKET REPORT STUDY

• Market size analysis for current Alzheimer's Disease (AD) Diagnostic market size (2020), and market forecast for 5 years (2021-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Alzheimer's disease (AD) Diagnostic market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the global Alzheimer's disease (AD) Diagnostic market.
• Various opportunities available for the other competitor in the Alzheimer's disease (AD) Diagnostic market space.
• What are the top performing segments in 2020? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current Alzheimer's disease (AD) Diagnostic market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Alzheimer's disease (AD) Diagnostic market growth in the coming future?

TARGET AUDIENCE WHO CAN BE BENEFITED FROM THIS ALZHEIMER'S DISEASE (AD) DIAGNOSTIC MARKET REPORT STUDY

• Alzheimer's Disease (AD) Diagnostic products providers
• Research organizations and consulting companies
• Alzheimer's Disease (AD) Diagnostic -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Alzheimer's Disease (AD) Diagnostic
• Various end users who want to know more about the Alzheimer's disease (AD) Diagnostic market and latest technological developments in the Alzheimer's disease (AD) Diagnostic market.

FREQUENTLY ASKED QUESTIONS FOR ALZHEIMER'S DISEASE (AD) DIAGNOSTIC MARKET:

1. What is Alzheimer's Disease (AD) Diagnostic?

The Alzheimer's disease is a progressive neurologic disorder that causes the brain to shrink (atrophy) and brain cells to die. The devices and tests used to assess memory impairment, thinking skills, functional abilities, behavior changes, and others in order to diagnose the Alzheimer's disease, are known as Alzheimer's disease diagnostic devices.

2. What is the global market for Alzheimer's disease (AD) Diagnostic?

The global Alzheimer's disease (AD) diagnostic market will grow at a CAGR of 10.97% during the forecast period from 2022 to 2027.

3. What are the drivers for global Alzheimer's disease (AD) Diagnostic market?

The Alzheimer's disease (AD) diagnostic market is witnessing a positive market growth owing to the factors such as the rise in the regulatory approvals for Alzheimer's disease (AD) diagnostics, rising prevalence of head injuries, rise in geriatric population, increasing research and development of novel biomarkers, and others will create an exigency for the Alzheimer's disease (AD) Diagnostic market.

4. Who are the key players operating in the global Alzheimer's disease (AD) diagnostic market?

Some of the key market players operating in the Alzheimer's disease (AD) Diagnostic market includes F. Hoffmann-La Roche Ltd., General Electric Company, 23andMe, Inc., Lilly, Fujirebio, Siemens Medical Solutions USA, Inc., Diadem srl., Todos Medical, DISCERN™, FUJIFILM Holdings America Corporation, Koninklijke Philips N.V., CANON MEDICAL SYSTEMS EUROPE B.V., Shimzadu Corporation., Laboratory Corporation of America® Holdings, Bruker, Magnetica., IMRIS, Deerfield Imaging, Inc., MR Solutions, Hyperfine, Inc., Neusoft Corporation, and others.

5. Which region has the highest share in Alzheimer's disease (AD) Diagnostic market?

Among all the regions, North America is estimated to amass the significant revenue share in the global Alzheimer's disease (AD) Diagnostic market. This can be ascribed to the rising prevalence of head injuries, rise in geriatric population, and the presence of key market players in the region are factors which acts as a supportive factor for the North America Alzheimer's disease (AD) diagnostic market growth.


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