-- Global Alzheimer’s Disease Diagnostic Market Information, by Type (Early-onset Alzheimer's, Late-onset Alzheimer's, Familial Alzheimer's disease), by Diagnostic test (Genetic testing, Neurological exam, Mini-mental state exam (MMSE), Brain imaging and others), by End Users (Clinics, Hospitals, Diagnostic Centers and others) - Forecast Till 2022
Global Alzheimer’s disease Diagnostic Market - Overview
Various neurodegenerative diseases have become prevalent all over the world. Alzheimer's disease is one such disorder that causes dementia resulting in memory loss and the damage caused by this disease increases gradually. Hence, early diagnosis of Alzheimer’s is as important as the treatment required to control it. According to the report that has been recently published by Market Research Future (MRFR), the global Alzheimer's disease diagnostic market is anticipated to project remarkable expansion at a CAGR of 10% during the forecast period of 2017-2022 and is estimated to reach the valuation of USD 12 Bn by the end of the forecast period.
With the rapid rise in global geriatric population, the incidences of Alzheimer's disease are also increasing. Increasing prevalence of Alzheimer's disease is inducing high demand for efficient diagnostic procedures, resulting in the expansion of the global Alzheimer's disease diagnostic market. Rise in healthcare expenditure in developing and developed regions and development of multiple diagnostic tests are leading to the significant growth of the global Alzheimer's disease diagnostic market.
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Key Players for Global Alzheimer’s disease Diagnostic Market
Eli Lilly and Company (UK),
TauRx (Republic of Singapore),
Alector LLC (US),
Accera, Inc. (US),
Treventis Corporation (US),
Neuro-Bio Ltd (UK),
Cognition Therapeutics Inc. (US) and others.
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.
Market Segmentation:
The global Alzheimer's disease diagnostic market has been segmented on the basis of type, diagnostic test and end-users. Based on type, the Alzheimer's disease diagnostic market is segmented into early-onset Alzheimer's disease, late-onset Alzheimer's disease, familial Alzheimer's disease and others. Based on diagnostic test, the Alzheimer's disease diagnostic market is segmented into genetic testing, neurological exam, mini-mental state exam (MMSE), brain imaging and others. Based on end-users, the Alzheimer's disease diagnostic market is segmented into clinics, hospitals, diagnostic centers and others
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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