Economic burden of
Alzheimer’s and dementia will exceed $2 trillion
Women are at much greater risk and
shoulder the majority of costs, according to new report which calls for a
multi-pronged approach to address growing health crisis
October 29, 2019 09:30 AM
Eastern Daylight Time
WASHINGTON--(BUSINESS WIRE)--The number of Americans
living with Alzheimer’s disease or other dementias will double to nearly 13
million over the next 20 years, according to the new Milken Institute report “Reducing the Cost and Risk of Dementia: Recommendations to Improve Brain
Health and Decrease Disparities.”
@milkeninstitute projects
doubling of Americans with #dementia Women impacted most from Alzheimer's &
dementia. Costs top $2 trillion. #MIHealthSummit https://tinyurl.com/y3whdhnc
Milken
Institute research estimates that by 2020, roughly 4.7 million women in the US
will have dementia, accounting for nearly two-thirds of all people living with
the condition.
The
number of both women and men living with dementia is projected to nearly double
by 2040, with the number of women projected to rise to 8.5 million, and the
number of men expected to reach 4.5 million (up from 2.6 million in 2020),
according to the report, which was released at the 2019 Milken Institute Future
of Health Summit in Washington, D.C.
Over
the next 20 years, the economic burden of dementia will exceed $2 trillion,
with women shouldering more than 80 percent of the cumulative costs.
“Longer
lifespans are perhaps one of the greatest success stories of our modern public
health system,” explained Nora Super, lead author of the report and
senior director of the Milken Institute Center for the Future of Aging. “But
along with this success comes one of our greatest challenges. Our risk of
developing dementia doubles every five years after we turn 65; by age 85,
nearly one in three of us will have the disease.”
“With
no cure in sight, we must double down on efforts to reduce the cost and risk of
dementia,” she added. “Emerging evidence shows that despite family history and
personal genetics, lifestyle changes such as diet, exercise, and better sleep
can improve health at all ages.”
In collaboration
with partners such as UsAgainstAlzheimer’s, AARP and Bank of America, Super and
her co-authors, Rajiv Ahuja and Kevin Proff, have
developed detailed recommendations and goals for policymakers, businesses, and
communities to improve brain health, reduce disparities, and ultimately change
the trajectory of this devastating disease:
1.
Promote strategies to maintain and improve brain health for all
ages, genders, and across diverse populations
2.
Increase access to cognitive testing and early diagnosis
3.
Increase opportunities for diverse participation in research and
prioritize funding to address health disparities
4.
Build a dementia-capable workforce across the care continuum
5.
Establish services and policies that promote supportive
communities and workplaces for people with dementia and their caregivers
“As
this important new report shows, dementia is one of the greatest public health
challenges of our time,” said Sarah Lenz Lock, SVP, Policy &
Brain Health at AARP. “It also demonstrates that we have the power to create
change, whether by helping consumers maintain and improve their brain health,
advancing research on the causes and treatment of dementia, or supporting
caregivers who bear so much of the burden of this disease. We at AARP look
forward to working with the Milken Institute and other key partners to achieve
these goals.”
"Brain
health broadens the fight against Alzheimer's to include everyone and is the
key to defeating stigma, increasing early detection, speeding up research --
and ending this disease," said Jill Lesser, a founding board
member of UsAgainstAlzheimer's. "This new look by the Milken Institute
offers important recommendations and actions to help move us to an optimal
system of brain health care in this country.”
Among
the breakthrough findings, new data have “unveiled key discoveries about the
differences between men’s and women’s brains, and how they age. Moreover, women
typically take on greater caregiver responsibilities than men. Women caregivers
are more likely to be impacted financially and leave their jobs or miss work to
care for a family member. And research demonstrates that spousal caregivers may
be at a higher risk of cognitive impairment or dementia than non-caregivers.”
“With
this research, the Milken Institute has taken an important step to better
understand the impacts of dementia on diverse populations,” said Lorna
Sabbia, Head of Retirement and Personal Wealth Solutions, Bank of America.
“This study, together with our own research on life stages, women, health and
wellness, plays a critically important role in our efforts to educate and
provide guidance to individuals and families throughout their financial lives.”
The
report, along with new data and recommendations is available online at www.milkeninstitute.org
About
the Milken Institute
The
Milken Institute is a nonprofit, nonpartisan think tank that helps people build
meaningful lives, in which they can experience health and well-being, pursue
effective education and gainful employment, and access the resources required
to create ever-expanding opportunities for themselves and their broader
communities. For more information, visit www.milkeninstitute.org
Contacts
Geoffrey
Baum, Director of Media Relations
Email: gbaum@milkeninstitute.org | Phone: +1 310-570-4689
Email: gbaum@milkeninstitute.org | Phone: +1 310-570-4689
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