With World Alzheimer’s Month on the horizon, the profound impact of artificial intelligence (AI) on Alzheimer’s care takes center stage. Amidst the projections of a surge in affected individuals, the fusion of AI and healthcare emerges as a promising avenue for driving substantive change. As we stand at the cusp of global observance, the potential of AI to reshape Alzheimer’s care evokes a sense of hope and transformation, according to GlobalData, a leading data and analytics company.
World Alzheimer’s Month is an international campaign from Alzheimer’s Disease International (ADI), an international federation of Alzheimer and dementia associations around the world. World Alzheimer’s Month takes place every September, and the goal is to challenge the stigma surrounding Alzheimer’s and other forms of dementia, as well as provide education and awareness.
GlobalData’s latest report, “Alzheimer’s Disease: Eight-Market Drug Forecast and Market Analysis – Update,” reveals that the Alzheimer’s disease market is projected to experience robust growth at a compound annual growth rate of 20.0% from $2.2 billion in 2020 to $13.7 billion in 2030 across the eight major markets (8MM*).
Alexandra Murdoch, Medical Analyst at GlobalData, comments: “A really important piece in Alzheimer’s and dementia care is education and knowing about the risk factors so patients can be proactive. The ADI highlights this with their campaign ‘Never too early, never too late’ which centres risk factors and reduction factors.”
Some modifiable risk factors highlighted by the ADI include physical inactivity, smoking, excessive alcohol consumption, infrequent social interaction, and less education. Understanding the risk factors and how to maintain brain health can prevent or delay up to 40% of dementia cases.
Another key factor in Alzheimer’s and dementia treatment is early diagnosis, which is something that the South Korean company Lotte Healthcare is trying to make accessible. Lotte Healthcare has partnered with iMediSync to develop an AI-based healthcare service that will focus on wellness and senior care.
iMediSync specializes in AI-based EEG screening to diagnose neuropsychiatric disorders such as Alzheimer’s disease. Lotte Healthcare operates a mobile health app called Cazzle, which offers personalized health recommendations using AI. The two companies plan to work together to create mobile health diagnostic tools leveraging AI technology with a focus on senior care.
Murdoch concludes: “Early diagnosis and risk factor comprehension are pivotal in Alzheimer’s and dementia care, making the introduction of an AI-driven app or platform a transformative advancement in the field. It will not only help make getting a diagnosis more accessible to patients but also relieve some of the workload from healthcare professionals.”
