Updated on 23 March 2016
(Photo Courtesy: www.ap-perspective.blogspot.com)
The Asia-Pacific (APAC) Alzheimer's disease market will grow from $3 billion in 2014 to $5.1 billion in 2021, representing a robust Compound Annual Growth Rate of 7.9%, according to business intelligence provider GBI Research.
The company's latest report states that the main driver of this impressive growth, which will occur across the APAC countries of India, China, Australia and Japan, will be rising and aging populations, as Alzheimer's disease is significantly more prevalent among the elderly.
Additional market drivers include better diagnostic techniques, improving health awareness, special healthcare programs, health insurance coverage, and increasing treatment affordability.
Ms Gayathri Kanika, Analyst for GBI Research, says: "An example of healthcare reforms is the Japanese government's recently approved plan to increase the number of nurses and care workers in the country's healthcare system by 2025, in order to help patients access and interpret information about their health, thereby improving knowledge and diagnoses of Alzheimer's.
"Across the APAC region, the expansion of health insurance coverage will increase access to healthcare, also leading to a rise in Alzheimer's diagnosis and higher treatment rates."