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The Alzheimer's disease market will more than double from just under $5 billion in 2014 to an estimated $10.4 billion in 2021, at a Compound Annual Growth Rate (CAGR) of 11%, according to business intelligence provider GBI Research.
The company's latest report states that such impressive growth, which will occur across the eight major markets (8MM) of the US, Canada, France, Germany, Italy, Spain, the UK, and Japan, will be primarily driven by increased disease prevalence during the forecast period.
Mr Yasser Mushtaq, Senior Analyst for GBI Research, says Alzheimer's disease is significantly more common in the older population and incidence rates increase rapidly after the age of 65.
He comments: "The fact that people are living longer across the globe means more cases of the disease are developing, and this has posed a growing public health crisis, which represents a very serious disease burden for patients and carers alike.
"Despite the urgent need to develop more effective treatments for Alzheimer's disease, thorough research is being carried out into understanding the disease, as its underlying pathology remains unknown.