Alzheimer’s Society has published new research for Dementia Action Week (13-19 May 2024) that shows the economic impact of dementia in the UK.
The research was conducted by CF (Carnall Farrar Ltd), who analysed the records of 26,000 people dating back seven years.
The statistics produced include:
- The cost of dementia is £42 billion per year and is set to rise to £90 billion by 2040. The majority (63%) of this cost is being shouldered by people living with dementia and their families. As dementia progresses, total costs increase from £29,000 per year for mild dementia to £81,000 for severe dementia.
- Almost one million people are living with dementia, but it is estimated that a third of people in England and Northern Ireland haven’t received a diagnosis and that 1 in 2 people in Wales haven’t.
- Spending on diagnosis makes up less than 1.4% of total health care expenditure. The majority of costs come from social care (40%) and unpaid care (50%).
- The prevalence of dementia is set to increase 43% by 2040, with the biggest increases in Northern Ireland (51%) and London (53%).
- The need for unpaid care will grow significantly by 2040 with 43% more people expected to require unpaid care. Currently a third of unpaid carers spend more than 100 hours caring per week, and 16% have given up work to care.
You can find out more about Dementia Action Week here: https://www.alzheimers.org.uk/get-involved/dementia-action-week