By 2050 the number of Australians suffering from dementia will be close to one million, 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 on Thursday.

'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.

Almost three-quarters of people with dementia are aged over 75 and 70 per cent live in the community as opposed to nursing homes.

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Dementia rate to triple by 2050-report