The market is anticipated to be driven throughout the projected period by an increase in the prevalence of Alzheimer's disease in the elderly population. In the U.S., 6.5 million persons aged 65 and older had Alzheimer's disease in 2021, with 73% of those individuals being 75 years or older, according to the Alzheimer's Association, which published its estimates in April 2022. Global demand for Alzheimer's disease diagnostics and therapies has been directly fueled by the abundance of medications in development for the condition, and the introduction of a new drug has the potential to significantly expand this market. In order to fuel the market's expansion during the projection period, key players are concentrating on offering innovative diagnostic tests. For instance, the biotechnology company Attyloid GmbH provides sFIDA (surface-based fluorescence intensity distribution analysis), a laboratory test based on biomarkers for the diagnosis of Alzheimer's disease. The growth and prognosis of Alzheimer's disease are significantly influenced by these tiny protein clumps. It is simple to distinguish between control samples and AD patients using sFIDA.
Coherent Market Insights estimates that the market for Diagnostics And Treatments For Alzheimer's Disease is anticipated to reach US$ 6,231.1 billion in 2022 and grow at a CAGR of 5.4% from 2022 to 2030.
Major Players in the Alzheimer’s Disease Diagnostics and Therapeutics Industry:
1. Merck KGaA
The business was founded in 1668 and is headquartered in Darmstadt, Germany. The company is divided into three divisions: healthcare, electronics, and life sciences. In February 2020, it was revealed that Merck's Allergopharma business was being sold to Dermapharm for an undisclosed fee. EMD Serono, the US and Canadian division of the Merck Group, announced in December 2021 that it would buy Chord Therapeutics, a Swiss startup, along with its lead medication, cladribine.
2. Novartis
The company was founded in March 1996 and has its main offices in Basel, Switzerland, and Cambridge, Massachusetts, in the United States. Novartis provides coverage for all types of medications, including authorization, over-the-counter, immunisations, diagnostics, eyewear, and veterinary care. Through its firms, Novartis engages in a number of direct activities, including managing, advertising, operations, and research.
3. Biogen, Inc.
The company was established in 1978 and has its US headquarters in Cambridge, Massachusetts. The company specialises in the research, creation, and global distribution of pharmaceuticals for the treatment of neurological diseases. In February 2020, Biogen and Sangamo Therapeutics established a global licencing deal to develop medications for neurological and neuromuscular disorders.
4. Teva Pharmaceutical Industries Ltd.
The corporation was founded in 1901 and has its headquarters in Tel Aviv, Israel. Although its primary area of expertise is in generic drugs, it also has some additional business interests in active pharmaceutical ingredients and, to a lesser extent, patented drugs. The aggressive climate targets set by Teva will have received external validation on January 19, 2023, thanks to the Science Based Targets programme (SBTi). Teva said on January 9th, 2023 that the federal opioids deal will proceed after receiving strong support from the states.
5. Johnson & Johnson Ltd.
The corporate headquarters of Johnson & Johnson, a company that was founded in 1886, are located in New Brunswick, New Jersey. Manufacturers of consumer goods, prescription medications, and medical equipment include Johnson & Johnson. The company announced in November 2021 that it would split into two publicly traded companies, one focusing on consumer items and the other on pharmaceuticals and medical technologies. The company claimed that during the first quarter of April 2021, sales of their Covid-19 vaccine totaled $100 million. Johnson & Johnson paid $16.6 billion to acquire Abiomed Inc. in November 2022.
6. Eli Lily and Co.
The corporation was established in 1876 and has its main offices in Indianapolis, Indiana. Eli Lilly and firm (Lilly), a firm in the healthcare sector, is committed to the development, commercialization, and marketing of medications for use in treating patients. Disarm Therapeutics, which offers state-of-the-art therapies for axonal degeneration, declared that Lilly would buy it in October 2020. According to reports, the corporation would focus on creating medications for autoimmune disorders, diabetes, obesity, and Alzheimer's in 2023.
7. Siemens Healthcare GmbH
The company was started in 1847 and is located in Erlangen, Germany. The business is engaged in the business of medical technology. For the healthcare sector, the company provides point-of-care testing, medical imaging, laboratory diagnostics, reading, digital ecosystem, and ecosystem solutions. The company declared in August 2020 that it will pay $16.4 billion to purchase Varian Medical Systems.
Definition: A neurological disorder called Alzheimer's normally manifests gradually and worsens over time. It is a type of dementia that worsens over time, impairing a person's ability to operate independently by producing a continuous loss in their mental, behavioural, and social skills.
