19 Sep, 2023 Future looks bright for Alzheimer’s in vitro diagnostics market, says GlobalDataPosted in Medical Devices
September is World Alzheimer’s Month that brings awareness to the neurological disease. According to the Global Burden of Disease Study 2019, dementia has been estimated to increase from 57.4 million cases in 2019 to 153.8 million by 2050. Coupled with the World Health Organization’s estimate that 60-70% of dementia cases may be Alzheimer’s, the need for accurate in vitro diagnostics (IVD) devices to aid in early diagnosis is needed for the upcoming years. There are currently 76 active Alzheimer’s IVD devices in the pipeline and 10 devices in clinical trials, indicating a bright future for the market, according to GlobalData, a leading data and analytics company.
GlobalData predicts that the number of new Alzheimer’s IVD products will rise in the next decade as research into dementia increases.
Selena Yu, Medical Analyst at GlobalData, comments: “With Alzheimer’s month approaching, it is important to emphasize what an early diagnosis can mean for Alzheimer’s patients. Early diagnosis or the likelihood of developing Alzheimer’s with IVD devices may lead to a better prognosis due to earlier treatment and preventative actions. This, in turn, can decrease the overall global burden of disease.”
The information learned from clinical trials like “Study of the Predictive Markers and the Pathophysiological Mechanisms of Alzheimer’s Disease: Transverse and Longitudinal Approach in Anatomical and Functional Multimodal Imaging” and “A Study of Blood-based Detection of Early-stage Alzheimer’s Using Multiomics and Machine Learning” will aid in developing more IVD devices. By understanding how Alzheimer’s affects the whole body, there are opportunities to expand not only IVD offerings but also treatment options.
Yu concludes: “Most of the Alzheimer’s IVD pipeline products are in early development, meaning most will hit the market in the coming decade. Additionally, the large proportion of pipeline products in early development indicates a more recent interest in the field. Overall, there’s a lot of promise in the next decade for new Alzheimer’s IVD products as researchers and medical device manufacturers learn more about the disease.”