Alzheimer's: disease cost set to rise by 70% to $26.6bn

The cost of Alzheimer’s disease is projected to rise by more than 70% to around $26.6 billion over the next 20 years, according to a new report by the University of Canberra’s National Centre for Social and Economic Modelling (NATSEM).

Dementia Australia CEO Maree McCabe AM said with almost half a million Australians living with dementia — and Alzheimer’s disease the most common form — this report reinforces the likelihood that dementia will have a staggering future economic cost without urgent action.

“Dementia is the second leading cause of death and the leading cause of death of women in Australia. It is the major chronic disease of this century,” McCabe said.

The report, titled ‘The Economic and Societal Cost of Alzheimer’s Disease in Australia, 2021–2041’ and commissioned by Biogen Australia and New Zealand, builds on NATSEM and Dementia Australia’s ‘Economic Cost of Dementia in Australia 2016–2056 Report’, released in 2017.

In order to reduce costs in the longer term, there needs to be a bi-partisan long-term commitment to improved services, research and increasing our understanding about dementia risk reduction, according to McCabe.

The report indicated costs could significantly be reduced if a disease modifying therapy for Alzheimer’s disease was to become available. The result would mean fewer people having moderate to severe symptoms which would in turn, over time, reduce the impact on the health, aged care and disability systems.

“The introduction of a disease modifying therapy has the potential to lower the economic impact but is only part of the solution.

“The time for a holistic, sustained and coordinated approach is now,” McCabe said.

Image credit: ©stock.adobe.com/au/Andrea Danti