Middle East And Africa Alzheimer’s Disease Therapeutics And Diagnostics Market 2022-2028
MARKET OUTLOOK
Triton Market Research estimates that the Alzheimer’s disease therapeutics and diagnostics market in the Middle East and Africa would progress with a CAGR of 5.81% over the forecasting years 2022-2028. Turkey, the United Arab Emirates, Saudi Arabia, South Africa, and Rest of Middle East & Africa are scrutinized in the market in this region.
Egypt, Qatar, Uganda, Israel, Iran, Nigeria, Kenya, and other countries are included in the Rest of Middle East & Africa region. According to the World Population Ageing 2019 report, there were nearly 5.2729 million people in Iran who were aged 65 years or older in 2019. And by 2050, this elderly population is expected to rise to 20.78 million people. The market for AD therapeutics and diagnostics is anticipated to grow in the near future owing to the expected increase in the elderly population and the fact that this demographic is more vulnerable to neurological illnesses like Alzheimer’s disease and dementia.
According to estimates from the World Population Ageing 2019 report, nearly 3.171 million people in South Africa were aged 65 or above, as of 2019. By 2050, approximately 7.920 million people are expected to constitute this age group. This is expected to increase the number of Alzheimer’s patients as well. The increased patient pool is also likely to draw the attention of market players to innovate and offer better treatment options for patients. Thus, owing to the growing prevalence of the disease, an increase in the aging population, and the development of advanced technologies for the diagnosis and treatment of Alzheimer’s, the market for AD therapeutics and diagnostics in South Africa is anticipated to flourish over the coming years.
COMPETITIVE OUTLOOK
Zydus Cadila, Siemens Healthineers AG, Eli Lilly & Company, Baxter International Inc, GE Healthcare, F. Hoffmann-La Roche AG, Sun Pharmaceuticals Industries Ltd, Teva Pharmaceutical Industries Ltd, and Johnson and Johnson are some of the prominent companies operating in the Alzheimer’s disease therapeutics and diagnostics market.
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