Figures from the World Alzheimer's Report 2011 have revealed that up to 27 million people are living with undiagnosed dementia across the world, with many of these likely to be using home care.
Authors said that providing support for carers and medications for those with dementia could mean the individual can remain in their own home for longer - potentially saving money.
It was calculated that early diagnosis of the condition could equate to savings of up to $10,000 (£6,254) per person.
Chief executive of the Alzheimer's Society Jeremy Hughes commented: "In the UK right now 60 per cent of people with dementia are struggling in the dark with no formal diagnosis. These people must be helped.
"Empowered with an early diagnosis, they can benefit from potential treatments and support which could vastly improve their quality of life."
Dementia Awareness Day is set to take place in the UK on Saturday September 17th, with events around the country hoping to highlight the issues of living with the disease.
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