Home | News | Dementia to cost $1 trillion over the next 40 years: report

Dementia to cost $1 trillion over the next 40 years: report

The number of Australians with probable dementia will hit 1.1 million by 2056 at a cost of $36.8 billion, new figures released by the peak body for dementia show.

Alzheimer’s Australia commissioned The National Centre for Social and Economic Modelling to estimate the prevalence and incidence of dementia in Australia, the need for carers, and the direct and indirect costs of the condition over the next 40 years.

The resulting report, The Economic Cost of Dementia in Australia 2016-2056, put the estimated number of Australians with probable dementia in 2017 at 413,106 and the associated estimated cost at $14.66 billion. This dollar figure is expected to reach over $36.8 billion by 2056.

Over the next 40 years, more than 6.4 million Australians will be diagnosed with dementia at a cost of more than $1 trillion, Alzheimer’s Australia national president professor Graeme Samuel said in the report. He added the data was a big wake-up call.

“The time for action is now,” Samuel said. “If we don’t do something now, the cost is going to continue to grow to unsustainable levels.”

Aged Care Insite sat down with Samuel to find out what needs to be done to address the growing prevalence of dementia in Australia and to find out what the report had to say about the need for carers.

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One comment

  1. This article is excellent but the stats are somewhat frightening. Action is needed now and the recognition and support for carers is going to be critical going forward to ensure they have the support they need. Carer support has to go hand in hand with the support for the person diagnosed with Dementia.