Northern, WI 04/04/2013 (usastockreport) – Heart disease and cancer held top spot at one point in healthcare costs but today, the annual costs for caring for dementia patients has touched $109 on an annual basis and has outrun the other deadly diseases. The cost of heart disease treatment in the U.S in 2010 was 4102 billion while that of treating cancer was $77 billion. It is estimated that by the time the current generation moves into their 70’s the cost will have easily doubled. Alzhiemer’s is the most common form of dementia. It affects the brain and affects the memory, thinking, language, behavior, and judgment of the affected person.
According to the Alzheimer’s Association, over 5 million Americans suffer from the disease and this number is slated o rise by 40 percent by the year 2025. The disease is going to have a significant negative impact on the economy of the country.
The one way to nip this issue in the bud is to find suitable treatments or a cure for brain-related disease such as Alzheimer’s and boosting research in the field is the only way to do it. Earlier this week, President Obama announced the BRAIN initiative, a campaign which will work on mapping the complicated interaction between the cells in the brain and the neurological circuits that it controls.
Older people at risk
To start with the project that starts in 2014 will work on funding worth $100 million. Rand Corp Center’s Michael Hurd, who has authored the Study of Aging, said that the need of the hour is more research will look at intervention treatments that will either help in halting or delaying the onset of the disease. Dementia has the potential to grow very fast. The University of Michigan along with Rand Corp has carried out this study which outlines that 15 percent of people above the age of 70 suffer from Dementia. There is very little information about the reasons for most of the brain disorders that exist today including ones like Alzhiemer’s. It is expected that by 2030 this disease will affect around 65.7 million people.
Too many unsuccessful attempts
There have been 101 attempts by various Pharma companies and medical institutes, to create a treatment for the disease, all of which have been unfruitful. According to the Pharmaceutical Research and Manufacturers of America, the latest companies to have tried and failed are Pfizer Inc (NYSE:PFE) (current: $29.03, Down by 0.68%)
Johnson & Johnson (NYSE:JNJ) (current: $82.07, Down by 0.75%) Eli Lilly & Co (NYSE:LLY) (current: $56.85, Up by 0.62%). The country recognizes the gravity of the situation and the urgency of finding an effective treatment as well. Obama approved the inclusion National Alzheimer’s Project Act into the law in January 2011. The goal of the project was to help the federal government in tracking the number of patient and the costs that result in costs to Medicare and Medicaid.