Alzheimer’s Disease Biomarkers Market Predicted to Reach USD 1.7 billion by 2031, Expanding at a 7.5% CAGR Says, Transparency Market Research Inc.
Rise in the prevalence of senile dementia associated with Alzheimer’s disease due to rapidly aging population is driving the global Alzheimer’s disease biomarkers industry. Introduction of specific biomarkers, such as peptides and genes, for diagnosis of Alzheimer’s disease is likely to be major business catalyst.
Wilmington, Delaware, United States, Aug. 14, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global Alzheimer’s disease biomarkers market is expected to be valued at US$ 953.54 million in 2023 and is likely to expand at a 7.5% CAGR until 2031. By 2031, the market is expected to be valued at US$ 1.7 billion.
Aging is the most significant risk factor for dementia. As a person gets older, the risk of developing dementia rises significantly. Senile dementia is caused by diseases that result in brain damage such as Alzheimer’s disease or vascular disease. Hence, increase in geriatric population is expected to propel the Alzheimer’s disease biomarkers market demand in the near future.
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The global Alzheimer’s disease biomarkers market is fragmented, with the presence of large number of players. Most of the companies are making significant investments in research & development activities, primarily to develop innovative biomarkers such as digital biomarkers products.
Leading players have adopted strategies such as product portfolio expansion and mergers & acquisitions in order to gain a competitive advantage. Some prominent market players include:
Enzo Life Sciences, Inc., Thermo Fisher Scientific, Inc., AnaSpec, Inc., Merck KGaA, Cell Signaling Technology, Inc., Fujirebio, Imagilys, NanoSomiX, QIAGEN, 23andMe, Inc., Quanterix, C₂N Diagnostics, and Quest Diagnostics are the prominent players operating in the marketplace.
Key Market Developments
- On July 27, 2022, Quanterix Corporation announced the validation of a laboratory developed test (LDT) to quantitatively measure phospho-Tau 181 (pTau-181) in plasma as an aid in Alzheimer’s disease diagnostic evaluation (AD). Quanterix’ LDT, the first pTau-181 plasma test approved for clinical use in the U.S., is a quantitative immunoassay designed to measure pTau-181 concentrations in human plasma. The test results are intended to be used in adults with cognitive impairment who are being evaluated for Alzheimer’s disease and must be interpreted in conjunction with other diagnostic tools.
- In March 2022, Fujirebio introduced Lumipulse G-Amyloid 1-42 Plasma and Lumipulse G-Amyloid 1-40 Plasma assays for the fully automated LUMIPULSE G immunoassay systems. These CLEIA (chemiluminescent enzyme immunoassay) assays allow for the quantitative measurement of amyloid1-42 and amyloid1-40 in human plasma in just 35 minutes. Furthermore, blood-based testing can become an even simpler, more accessible, and scalable approach to assist in the diagnosis of Alzheimer’s disease.
According to Harvard Chan School (2020), 47 million people are living with dementia across the globe. The number is expected to triple in the next 30 years due to the rapidly aging population. As per Alzheimer’s Society 2022, around two in every 100 people aged 65 to 69 suffer from dementia. The risk rises with age, roughly doubling every five years. This means that nearly 33 in every 100 people over the age of 90 years are afflicted with senile dementia.
Key Takeaways from the Market Study
- As of 2022, the Alzheimer’s disease biomarkers market was worth US$ 887.05 million
- A Y-o-Y growth rate of over 7% is expected for the market from 2022 to 2023
- From 2023 to 2031, the market for Alzheimer’s disease biomarkers is forecast to expand nearly 1.8x
- By type of biomarker, CSF biomarkers are expected to be the key determinants of Alzheimer’s disease
- Based on the detection technique, the immunoassays segment is likely to account for a significant share
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Alzheimer’s Disease Diagnostics Market Growth Drivers
- The direct effects of a traumatic brain injury (TBI) could include unconsciousness, inability to recall the traumatic event, depression, confusion, difficulty in learning & remembering new information, difficulty in speaking coherently, unsteadiness, lack of coordination, and vision or hearing issues. Certain types of TBI could increase the risk of developing Alzheimer’s disease or another type of dementia years after the injury.
- According to the Centers for Disease Control and Prevention (CDC), around 223,135 TBI-related hospitalizations and 64,362 TBI-related deaths were reported in the U.S. in 2019 and 2020, respectively. According to data, more than 611 TBI-related hospitalizations and 176 TBI-related deaths are reported every day.
- A study conducted by Stanford Medicine found that smoking increases the risk of mental decline and senile dementia significantly. People who smoke are more likely to develop atherosclerosis and other types of vascular diseases, which could be the underlying causes of dementia.
Regional Analysis of the Alzheimer’s Disease Biomarkers Market
- North America held the largest share of around 35.0% in 2021. It is expected to record significant market progress during the forecast period. North America’s dominance is ascribed to the increase in the incidence of major neurological diseases in the region.
- Asia Pacific is projected to be the fastest-growing region during the forecast period. The business in the region is anticipated to grow at a rapid pace from 2022 to 2031 due to the high incidence rate of the Alzheimer’s disease, dementia, and Parkinson’s disease.
Key Segments Profiled
Type of Biomarker
- CSF Biomarkers
- Amyloid Beta
- Tau Protein
- Genetic Biomarkers
- Apolipoprotein E
- Blood Biomarkers
- Molecular Diagnostics
- Hospitals & Clinics
- Diagnostic Laboratories
- North America
- Asia Pacific
- Rest of the World
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