The number of Australians suffering from dementia is expected to triple to almost one million by 2050, a new report says. Source: Supplied

THE number of people suffering from dementia is expected to triple to 900,000 by 2050, a new report suggests.

It is estimated around 300,000 Australians currently have dementia and it's thought 400,000 people will be suffering from the disease by 2020.

But by 2050 the number of sufferers will be close to one million.

Australian Institute of Health and Welfare (AIHW) director David Kalisch and Alzheimer's Australia president Ita Buttrose will launch a new report into dementia in Canberra today.

"An average of 25 people died each day from dementia in 2010," Mr Kalisch said in a statement.

"(Also) as any person with relatives or friends who have dementia knows it has a marked impact on quality of life not only for those with the condition but their families and friends as well."

The AIHW report Dementia in Australia reveals the disease was the third leading cause of death in 2010 accounting for six per cent of all deaths. Twice as many women as men die from dementia.

The disease was recorded as the underlying or an additional cause of 14 per cent of deaths in 2010.

The report also shows that of the 300,000 existing sufferers, 62 per cent are women.

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Dementia rate 'to triple by 2050'