Dementia is an issue that affects a staggering number of Australians, with the number of impacted individuals expected to grow to 400,000 in less than 10 years. As such, putting the necessary funding support in place now is essential for the long-term management of the disease.
Further research funding has been announced, however, as part of the 'Boosting Dementia Research Initiative'. This $200 million program will help to ensure that the number of affected remains manageable over the next few years.
Grants have already been allocated, with a call now placed for further applications. The National Health and Medical Research Council (NHMRC) expects that research grants will total $32.5 million over the next five years.
"We look forward to seeing the outcomes of this call for applications and will continue to work with the NHMRC to ensure that consumers are centrally involved in the new activities, and that the research reflects their priorities and their concerns," said Alzheimer's Australia National President, Graeme Samuel.
"This new virtual institute will draw together Australia's outstanding researchers in dementia research, to bring a broad, collaborative approach to the highest priority research and translation question in dementia."
Details of how the additional funding would be allocated were also released, and these allocations have been detailed below.
- $50 million is be allocated for the formation of National Institute for Dementia Research;
- $62.5 million will be placed in support of large scale research efforts;
- $46 million is set to support capacity building grants to attract researchers, $26 million of which will come from the Australian Research Council.
The aged care industry is certainly evolving, and further research funding allocations will no doubt prove useful for aged care facilities will special care requirements.
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