This recent study also predicts that cost of caring for these individuals will also make a huge jump from $307 billion to $1.5 trillion a year by 2050.
The annual cost per patient was $71,000 in 2010 which will also increase by double after 35 years.
According to the lead author of the study Julie Zissimopoulos, an assistant professor at the School of Public Policy at the University of Southern California, it is expensive because people having Alzheimer's disease require great care and need paid caregivers or family members to carry out their day to day activities. Family members need to take time off from work to care that also burdens the economy.
'In late stages of the disease, they need help with personal care and lose the ability to control movement, which requires 24-hour care, most often in an institutional setting,' she said.
Researchers reported that most of the costs are paid by Medicare and Medicaid.
According to an estimate, the number of Americans aged 65 and older in 2012 make 14 percent of the population with 43 million people and now this will increase to 21 percent by 2050 as their number will rise to 84 million.
This new study suggested that delaying the onset of Alzheimer's disease could turn out to be a greater help in the future.
The University of Southern California researchers reported that there would be a 153 percent increase in the people having ages 70 or more with Alzheimer's by 2050.
The details of these findings have been published in the journal Forum for Health Economics and Policy.
'Our colleagues in the medical field are working on ways to understand how the disease interferes with brain processes - and then stop it,' Zissimopoulos said.
