This amount is likely to dramatically increase over the next few years as dementia is expected to double by 2030, and more than triple by 2050, posing the largest health and social crisis of this century.
Authors of the report are recommending that the World Health Organization make dementia a ‘world priority’ and campaigners are saying more research and investment is needed into care and new treatments as spending more money now will help to save nations more money in the future.
A huge contributing factor to the rising cost is people living longer, meaning as life expectancy increases around the world more people will develop dementia.
Data which has been compiled by individual countries including the UK has already revealed that dementia is one of the costly illnesses to treat and Professor Martin Prince, of the UK’s Institute of Psychiatry who co-authored the report has urged nations to start developing comprehensive plans to help better care for the millions who have the disease.
“Governments must show greater leadership, working with all stakeholders, to drive solutions to the long term care issue.” He said.
Additional information about Dementia can be found here