Alzheimer’s disease and other dementias are having an enormous and growing impact on the world economy. Today is World Alzheimer’s Day.
According to a new report the cost will surpass $601 billion by the end of this year; over 1% of global GDP (Gross Domestic Product). The new report published by Alzheimer’s Disease International.
The report was authored by Professor Anders Wimo of the Karolinska Institutet, Stockholm, Sweden; and Professor Martin Prince, Institute of Psychiatry, King’s College London, UK.
“This should be an important wake-up call that Alzheimer’s disease and other dementias are the single most significant health and social crisis of the 21st century,” declared Jesse Slome, executive director of the American Association for Long-Term Care Insurance. “Individuals are woefully unprepared for the social and economic disruptions this disease will cause.”
The reports highlights the following information:
Global costs of dementia will surpass 1% of global GDP this year
Global costs of dementia will exceed $601 billion for the year 2010
There will be two times as many people with dementia in 2030 as there are today
There will be three times as many people with dementia by 2050 as there arean today
The costs of caring for individuals with dementia will probably increase faster than the increase in prevalence. This will be especially so in developing nations.
Although dementia is one of the costliest illnesses, research and development, as well as investments are considerably smaller than for other major illnesses which do not impact as much on national economies.
One expert nooted that this new Report gives us the clearest, most comprehensive picture yet of the global economic and social costs of dementia. The World Alzheimer Report 2010, merged the best available data and the most recent insights regarding the worldwide economic cost of dementia. This enabled researchers to provide more detailed estimates than before, by making use of recently available data that considerably strengthens the evidence base.
LEARN MORE ABOUT LONG-TERM CARE INSURANCE PROTECTION. Get a free, no obligation quote for Long-Term Care Insurance from the American Association for Long-Term Care Insurance. Click here now!
INSURANCE AGENTS. SELL MORE LONG-TERM CARE INSURANCE PROTECTION. Visit the Association's Online LTC Learning, Marketing & Sales Center. Click here now!
HAVE YOU HEARD ABOUT CRITICAL ILLNESS INSURANCE? Learn more from the American Association for Critical Illness Insurance. Click here now!
MEDICARE SUPPLEMENT INSURANCE COSTS
Click here to learn more!