Dutch Israeli Mini-Symposium on AI and Dementia
The Netherlands and Israel share scientific and technological solutions to address the 13 billion USD dementia market.
Objective Israeli and Dutch companies are jointly developing new products and services for people living with dementia and their family carers. To be successful these products need to be attuned to the needs of people with dementia and carers and developed in co-creation. Together with involved stakeholders these new products need to reach the world market of 50 million patients worldwide which is expected to grow because of the greying of the world population. There is an urgent and growing need for effective products.
Background Dementia has a major impact on the quality of life and entails a high perceived burden of disease. Investments in technological innovations to better meet the individual needs of people with dementia and their family carers are crucial to improve quality of life and significantly reduce not only the individual but also the societal burden of dementia. More than 50 million people worldwide live with dementia. This number will nearly double every 20 years, to 82 million by 2030 and 152 million by 2050 . Much of the increase will take place in developing countries. The number of people with dementia in Europe will grow rapidly from around 9.7 million in 2020 to more than 18.6 million in 2050. At the same time, in all countries the number of people available to provide care – as informal or professional carers – for patients (and elderly in general) will decrease substantially in the coming decades. The global dementia drugs market was valued at approximately USD 12,736.06 million in 2020 and is expected to witness a revenue of USD 19,655.10 million in 2026, with a CAGR of 7.87% over the forecast period. The outbreak of the COVID-19 pandemic is expected to have a significant impact on the Dementia drugs market. According to a research study published in Jan 2021 in Nature Reviews Neurology, the population with dementia are at high risk of contracting COVID-19 infection. Furthermore, older populations with dementia are also more likely to have more severe disease consequences than those without dementia. To maintain the quality of life of people with dementia or other cognitive impairments, smart applications need to be developed to provide effective support, based on artificial intelligence, and keep the health care available and affordable.
Target audience Israeli and Dutch companies, care providers, professional carers, universities, governmental bodies and healthcare investors