The warning has come as researchers predict one in three babies born today will be diagnosed with the illness at some point in their life.
Dementia affects 850,000 people in the UK, resulting in the loss of brain cells. The most common type is Alzheimer's disease.
Early symptoms include problems with memory and thinking. As the disease progresses, people can experience difficulty with walking, balance and swallowing.
Alzheimer's Research UK said age was the biggest risk factor for developing dementia.
Head of Nursing at the Christian Medical Fellowship Steve Fouch said: "We're living longer. We're living well into our 80s and 90s now and dementia, unfortunately, is one of the costs we pay for living longer."
The latest analysis, commissioned by the charity and carried out by the Office of Health Economics, was released to mark World Alzheimer's Day.
It showed 27% of boys born in 2015 will develop the condition in their lifetime, alongside 37% of girls.
Mr Fouch added that more action was needed because it was "going to become one of the biggest health crises that we will face in the developed world and indeed in the developing world".
He said there were ways people could try and prevent dementia like exercise more and keep challenging their brain.
Spending time talking to people with the illness could help he said: "Playing music, old hymns from their childhood.
"Sitting reading scripture and praying old liturgy and prayers that people may remember from their childhood."
Steve Fouch speaking to Premier's Hannah Tooley:
