A study, conducted by the Office of Health Economic, suggests that one in three people born in Britain in 2015 will develop dementia, Reuters reports.

The study was commissioned by the charity campaign group Alzheimer's Research UK.

Mark Dallas, a neuroscientist at Britain's University of Reading who specialises in Alzheimer's, said

"The startling numbers of people born this year that will be affected by dementia (put) it on a par with other life-changing diseases," he said. "However for every one dementia researcher there are five researching cancer. We must invest in innovative research to redress the balance."

The study emphasizes the need for global efforts to develop treatments for dementia, which already affects around 850,000 people in Britain, and a total of 35.6 million worldwide, according to a report by the World Health Organization.

"It's wonderful news that each generation is living longer ... but it's important to ensure people can enjoy these extra years in good health," said Matthew Norton, Alzheimer's Research UK's head of policy.

Dementia results in the loss of brain cells and adversely affects a person's memory, cognition, behaviour and the ability to perform everyday activities. There is currently no treatment available for dementia.

The number of people with dementia is likely to increase, as the life expectancy increases.