” Alzheimer disease is a most common cause of dementia that involves the loss of mental capability due to gradual death of brain cells. Global Alzheimer’s disease therapeutics and diagnostic market is anticipated to rise with a CAGR of about XX% during the years 2016-2023. The market has been valued at $XX million by the year 2023 and is depicted to generate a revenue of about $XX million by the year 2023. Increasing geriatric population and rising healthcare expenditure has extensively propelled the growth in the therapeutics and diagnostics market of Alzheimer’s disease.
Out of 5.3 million people in US suffering from Alzheimer’s disease, over 5.1 million people have age greater than 65 years. Geriatric population is a major cause for increasing cases of neurodegenerative diseases across the globe. Increasing geriatric population has immensely propelled the growth in the Alzheimer treatment market. In earlier decades, population of young children was more as compared to the number of people aged 65 or above. But in present scenario, the situation is completely different. This change is driven by falling fertility rates and a noteworthy rise in the life expectancy rate. Aging population is anticipated to grow continuously, at uniform rate in the next 10 years. The number of people aged 65 or above was approximately 524 million in the year 2010 and is estimated to be nearly 1.5 billion by the year 2050, with most of the increase in the developing countries. According to WHO, the world aged population is anticipated to reach 2 billion by the end of 2050 which was around 900 million in 2015. Currently, in China around 125 million people are there aged 80 years and above and the number is expected to reach around 434 million people across the globe. In China, the population ageing above 65 years and above is expected to reach 330 million by the end of 2050, from 110 million in 2014. Although, India’s aged population is anticipated to cross 227 million by 2050 from 60 million in 2015.
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Moreover, rising expenditure on health care has also helped to back the growth in the market. Population across the globe has increased with 1.22% of annual rate during the year 2005-2015, however at the same time, health care spending has increased at an annual rate of 6%. Surging global health care expenditure is a major concern for governments of several developing countries such as India, South Africa, Mexico, Brazil, China etc. Top 10 countries accounted to have 32% of global population such as China, India, US, Indonesia, Brazil, Russia, Japan and others contributes about 75% of health care expenditure across the world. Health care expenditure in countries such as China and Germany has been observed to be over $600 billion and $450 billion respectively as of year 2015. Rising health care expenditure in these countries have been a crucial driver for many industries such as pharmaceutical, medical and insurance that has resulted to promote strong growth in the Alzheimer’s disease therapeutics and diagnostic market.
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