Alzheimer’s refers to a neurological disorder that causes problems with memory, thinking, and behavior. The symptoms usually worsen over time and intervene with the successful execution of daily tasks. With the rising prevalence of numerous neurodegenerative diseases. Many other factors are driving the global Alzheimer’s disease diagnostic market. With a rapid rise in the geriatric population, the prevalence of Alzheimer’s is also seen catching ascension. Such rise is inducing high demand for efficient diagnostic procedures, leading to an upsurge in the global Alzheimer’s disease diagnostic market.
Further, the development of effective biomarker technologies for the improvement of the development process is also seen impacting the global Alzheimer’s disease diagnostics market size. Even though the global Alzheimer’s disease diagnostic market is witnessing propulsion in growth, some factors are acting as hindrances for the same. Lack of awareness coupled with low penetration of advanced diagnostic technologies in underdeveloped regions is estimated to restrain the market from growing faster.
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Key Players
The global Alzheimer’s disease diagnostic market is driven by many noteworthy players in the market. Some of these market players include Eli Lilly and Company (the U.K.), TauRx (Republic of Singapore), Alector LLC (the U.S.), Accera, Inc. (the U.S.), Treventis Corporation (the U.S.), Neuro-Bio Ltd (the U.K.), and Cognition Therapeutics Inc. (the U.S.).
Industry Update
August 2018: Researchers in the Lanzhou University and Queens College have conducted a collaborative study and published the development of a new technique for constructing a personal brain network using multiple structural features to improve the accurateness of diagnosing Alzheimer’s diseases and mild cognitive impairment.
Market Segmentation
The global alzheimer's market size has been analyzed for various segments. Such market segmentation has been carried out based on type, diagnostic test, end-users, and region. On the basis of type, the Alzheimer’s disease diagnostic market has been segmented into early-onset Alzheimer’s disease, familial Alzheimer’s disease, and late-onset Alzheimer’s disease. On the basis of diagnostic test, the Alzheimer’s disease diagnostic market has been studied for the segments of the neurological exam, genetic testing, mini-mental state exam (MMSE), and brain imaging. On the basis of end-users, the global Alzheimer’s disease diagnostic market has been segmented into diagnostic centers, hospitals, and clinics.
Detailed Regional Analysis
The global Alzheimer’s disease diagnostic market is expected to reach a revenue valuation of USD 12 billion by the end of the conjectured period. The global Alzheimer’s disease diagnostic market has been geographically segmented into North America, South America, Europe, Asia Pacific, and the Middle East & Africa. North America is estimated to spearhead the global Alzheimer’s disease diagnostic market through the assessment period. Such dominance can be owed to a high prevalence of Alzheimer’s disease. Further, snowballing research and development seen in the diagnostic processes to improve the accuracy of the Diagnostics are also projected to push the Alzheimer’s disease diagnostic market in North America to a great extent.
Europe is predicted to follow North America and garner the second largest share in the Alzheimer’s disease diagnostic market during the review period. The growth in this region can be credited to the proliferating growth and development in the healthcare sector. Moreover, growing healthcare expenditure in the region is also a vital contributor to the growth of Alzheimer’s disease diagnostic market. Asia Pacific is projected to showcase the fastest growth for Alzheimer’s disease diagnostics through the forecast period. Such growth can be accredited to the increasing awareness of Alzheimer’s disease in the region.
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