Canada Alzheimer’s Therapeutics Market Analysis

Canada Alzheimer’s Therapeutics Market Executive Summary

Canada Alzheimer’s therapeutics market was valued at $384 Mn in 2022 and is estimated to reach $771 Mn in 2030, exhibiting a CAGR of 9.1% during the forecast period.

Alzheimer's is a neurological condition that impairs thinking, behaviour, and memory. It typically starts slowly, gets worse over time, and affects a person's capacity to perform daily tasks. Nerve cells in Alzheimer's disease die as a result of abnormal alterations in the brain, such as the buildup of plaques and tangles. Alzheimer's disease does not currently have a cure. However,certain drugs can help control symptoms and enhance the quality of life. These medications, which include memantine, rivastigmine, and donepezil, relieve memory and cognitive issues by controlling specific chemicals in the brain. Additionally, non-drug approaches, including keeping a healthy lifestyle, being cognitively and socially engaged, and having a supportive environment, might contribute to improved overall management of the illness.

Over 402,000 seniors in Canada who are 65 years of age or older are living with dementia, representing a 7.1% prevalence rate. Remarkably, women make up almost two thirds of seniors in Canada who suffer from dementia. An incidence rate of 14.3 new cases per 1,000 seniors with dementia results from the approximately 76,000 new cases of dementia that are diagnosed annually. When compared to men, the incidence is higher in women. The age standardized prevalence of dementia has witnessed a considerable 21.2% increase. Almost half (48.4%) of Canadians with dementia who were 35 years of age or older reported having fair or poor general health, and nearly one-third (29.7%) reported having mental problems. Increased overall disability and particular functional impairments were strongly associated with dementia, 58.4% of those with dementia reported reduced mobility, and 37% reported moderate to severe pain and discomfort. Additionally, over half (56.8%) experienced urinary incontinence, and almost one-third (31.7%) reported bowel incontinence. According to estimates, males with dementia may lose an average of 16.0 years of fully functional life owing to disability and early mortality, compared to an average loss of 15.2 years for women.

Health Canada's approval of Lecanemab (Leqembi) in January 2023 marked a significant advancement in the treatment of Alzheimer's disease. First approved in Canada to treat the underlying cause of Alzheimer's disease, this ground-breaking medication was developed by Eisai and Biogen and targets amyloid plaques in the brain. However, its effectiveness is primarily observed in patients in the early stages of the disease.

In a recent study, Eli Lilly's Donanemab, showed encouraging findings with a 60% reduction in cognitive deterioration and focused on amyloid plaques. There are worries about the possible cost and accessibility of this medication, which is presently being reviewed by Health Canada.

Market Dynamics

Market Growth Drivers

Aging population: The aging population is a major factor affecting the Alzheimer's treatment drug market in Canada. According to Statistics Canada, the number of people 65 and older will nearly double to 26.4 million by 2037. Due to the increased incidence of Alzheimer's disease in this age group, there is a rising demand for more treatment options.

Growing awareness: The surge in awareness and advocacy initiatives, including public campaigns by Alzheimer's organizations such as the Alzheimer Society of Canada, is producing heightened public demand for improved accessibility to treatment alternatives for Alzheimer. The market for Alzheimer's therapy drugs has the opportunity to develop as more people become aware of the disease.

Approval of new drugs: The market is expected to grow as a result of the recent approval of Lecanemab (Leqembi) in Canada and the upcoming approvals of medications like Donanemab, which offer hope for better treatments.

Market Restraints

High Drug Prices: Alzheimer's drugs that have recently been developed, such lecanemab, are quite expensive. Concerns over patient' financial viability are raised, and the burden on provincial health insurance programs may result in limitations on coverage and patient accessibility.

Limited long-term efficacy: All currently available drugs, including those that have been developed recently like Lecanemab, primarily aim to delay the onset of symptoms rather than offer a complete cure. Certain people are wary of spending a lot of money on treatments because they are unsure about their long-term effectiveness and impact on the progression of the illness.

Limited coverage: Accessibility discrepancies based on patient characteristics and geographic regions are often caused by limitations within provincial health insurance schemes that leave these costly medications underinsured. Lower-income individuals and families are typically disproportionately affected by this financial burden.

Notable Recent Updates

• March 2021, Eisai Co., Ltd. and Biogen Inc. extended their current collaboration agreement to address Alzheimer's disease.
• March 2019, US FDA gave Zydus Cadila permission to sell their transdermal rivastigmine system, which is used to treat Alzheimer's disease.

Healthcare Policies and Regulatory Landscape

Health Canada is the national regulatory organization responsible for guaranteeing the quality, safety, and effectiveness of medications and other healthcare goods in Canada. New drugs must pass a rigorous evaluation process and be examined and authorized by Health Canada before they can be marketed and sold in Canada. This is done to ensure their safety and efficacy.

The part of Health Canada that is specifically in charge of drug regulation is the Pharmaceutical Drugs Directorate (previously the Therapeutic Products Directorate). Drug applications are reviewed by the PDD for quality, safety, and efficacy.

Competitive Landscape

Key Players

• Biogen
• Eisai
• Roche
• Novartis
• Pfizer
• Eli Lilly
• Johnson & Johnson
• AbbVie
• AstraZeneca
• Lundbeck