Alzheimer’s Therapeutics and Diagnostics Market: Expansion Prospects

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Alzheimers Therapeutics and Diagnostics Market
Expansion Prospects
By Shreya Jadhav According to estimates, nearly
5.8 million individuals in the United States were
reported to have Alzheimers disease (AD) in
2020 and by 2050, this number is expected to
surge to 13.8 million individuals. The rising
prevalence of this disease across the globe
emphasizes the pressing need to develop effective
diagnostic methodologies and treatments. Triton
Market Research puts forth that the Global
Alzheimers Disease Therapeutics and Diagnostics
Market is likely to grow with a CAGR of 6.98 in
the forecasting period from 2022 to 2028.
Alzheimers is a neurodegenerative disease that
attacks the neurons, gradually damaging a
persons memory, thinking skills, and ability to
perform the simplest daily tasks. People in the
age group of 65 years or older are more prone to
this condition, as a result of aging. Thus, the
rising elderly populace is a key factor driving
the demand for AD therapeutics and
diagnostics. Key Diagnostic Methodologies
Computed Tomography leads the Diagnostics segment
with a 339.50 million revenue in 2021.
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The mortality rate from Alzheimers can be
minimized if the disease is diagnosed and treated
in the early stages. Computed Tomography (CT) is
an advanced and cost-effective diagnostic
procedure for AD. As per Medscape, the cost of a
CT scan is nearly 20 less than that of an MRI
scan. The benefits offered by this technique and
its effectiveness in diagnosing AD are driving
the overall segments growth. Blood Test is
estimated to grow with the fastest CAGR in the
Diagnostics segment, with a 20.93 CAGR during
2022-2028. Blood testing for AD is an emerging
technique that could help detect the disease
prior to its onset or in those showing early
symptoms. Several players are engaged in
developing blood-based tests to identify
Alzheimers disease biomarkers, as this approach
is less invasive and more affordable than the
currently available brain imaging and spinal
fluid tests. Most of these pipelined products are
awaiting marketing approval from the US Food and
Drug Administration (FDA) and are most likely to
be launched towards the end of the forecast
period. Stringent Regulations Major
Roadblock According to Alzheimers Drug Discovery
Foundation, the pharmacological treatment for AD
is first tested during clinical trials registered
with ClinicalTrials.gov, a registry of publicly
privately funded clinical studies under the
National Institutes of Health (NIH). In the US,
any company that intends to manufacture a new
drug, has to seek approval from the FDA, prior to
conducting clinical trials. Similarly, in Japan,
companies are required to seek approval from the
regulatory body Pharmaceutical and Medical
Devices Agency (PMDA). The process is extremely
cumbersome, as the manufacturers have to submit
multiple applications for review before every
phase of the trial. Also, post the successful
completion of these trials, they must apply for
licenses to market the drug. Such stringent
regulations for drug development and
commercialization are hampering the markets
growth. Growing Number of Pipeline Drugs
Opportunistic Trend for Therapy There are several
drugs in the pipeline for AD, aimed at cognitive
enhancement or neuropsychiatric symptoms control.
There are also certain pipeline drugs aimed at
preventing, delaying, or slowing the progression
of Alzheimers. The Alzheimers Association
estimates that the diseases prevalence can be
reduced by 50 if its onset is delayed by five
years. The association further states that,
currently, there are 143 drugs in the pipeline
for its treatment. In July 2021, Eli Lilly and
Company collaborated with Banner Alzheimers
Institute on the Phase 3 prevention trial for
donanemab. Future Outlook There is a high
potential for developing a superior diagnosis for
Alzheimers disease, compared to the diagnostic
tests available at present. A research article
published in Frontiers in Neurology (2020) states
that newer techniques, which include the
incorporation of PET neuroimaging and other
genomics proteomics biomarkers, are being
adopted into revised diagnostic
criteria. Further, significant side effects of
medicines and an unexpected lowered patient
response towards treatment can be potential
application areas for personalized therapy. It
allows for a more accurate
diagnosis and more effective treatment, with its
patient-specific approach. Thus, the emergence of
new
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diagnostic technologies and the development of
personalized medicine indicate an overall
positive outlook for the Alzheimers disease
therapeutics and diagnostics market.
FAQs Q 1) Which region is expected to dominate
the global AD therapeutics and diagnostics
market? With a revenue of 2350.97 million in
2021, North America is expected to dominate the
global market, with an estimated revenue of
3815.68 million by 2028. Q 2) How is the market
segregated based on Therapeutics? Based on
Therapeutics, the market is broadly segmented
into drug type, disease stage, and generic
branded. Q 3) What are some of the leading market
players in the market? Biogen Inc, Cognoptix Inc,
Lupin Limited, Merck and Co, Baxter International
Inc, Amarantus Bioscience Holdings Inc, Eli Lilly
Company, and Pfizer Inc.