Philippines Alzheimer’s Therapeutics Market Analysis

Philippines Alzheimer’s Therapeutics Market Analysis


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Philippines alzheimer’s therapeutics market valued at $11 Mn in 2022, projected to reach $22 Mn by 2030 with a 9.6% CAGR. The market for medications used to treat Alzheimer's disease is mostly driven by the condition's increasing prevalence, which is fuelled by an aging population. The top pharmaceutical firms in the industry currently operating in the market are Pfizer, Novartis, Johnson & Johnson, Roche, Eli Lilly, Biogen, AstraZeneca, Merck & Co., AbbVie and Eisai.

ID: IN10PHPH431 CATEGORY: Pharmaceuticals GEOGRAPHY: Phillipines AUTHOR: Dr. Medha Sansanwal

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Philippines Alzheimer’s Therapeutics Market Executive Summary

Philippines alzheimer’s therapeutics market valued at $11 Mn in 2022, projected to reach $22 Mn by 2030 with a 9.6% CAGR.

Alzheimer's disease is a neurological condition that impairs mental health, behavior, and memory. Usually, it starts slowly, gets worse with time, and makes it harder for the person who is affected to perform daily tasks. Nerve cells in Alzheimer's disease die as a result of abnormal brain alterations such as plaque and tangle formation. Alzheimer's disease does not currently have a cure. However, some drugs can help with symptom control and enhance quality of life. These medications treat memory and cognitive issues by changing specific neurotransmitters in the brain. Among these medications are memantine, rivastigmine, and donepezil. Non-pharmacological techniques include keeping a healthy lifestyle, engaging in social and cognitive activities, and fostering a supportive environment, all of which may improve overall illness management.

In the Philippines, dementia affects 10.6% of elderly citizens, with Alzheimer's disease being the most common type. The country's aging population is contributing to this trend, with over 14 Mn people predicted to be 65 years of age or older by 2050. Given that the risk of Alzheimer's disease increases with age, this demographic trend is quite concerning. There is opportunity despite the ongoing stigma thanks to advancements in diagnosis and awareness campaigns. A higher reported prevalence of Alzheimer's disease could be the result of more accurate diagnoses brought about by increased awareness campaigns and improved accessibility to healthcare.

The US-based business Annexus Therapeutics is now carrying out a Phase II clinical trial for its intriguing drug candidate ARX784, which is intended to target Tau protein aggregation a crucial component of the pathophysiology of Alzheimer's disease in the Philippines. Results from this experiment should be available in late 2024, highlighting the Philippines' active involvement in international research projects centered on Alzheimer's treatment.

A research project targeted at creating a possible Alzheimer's treatment is being carried out by the University of the Philippines Diliman and the local pharmaceutical company Medichem Laboratories. This partnership not only demonstrates the nation's dedication to furthering scientific endeavours but also emphasizes regional contributions to the changing field of potential Alzheimer's treatment alternatives.

Philippines alzheimer's therapeutics market

Market Dynamics

Market Growth Drivers

Aging Population: The population of the Philippines is expected to age quickly, by 2050, there will be over 14 Mn people over 65. The desire for efficient treatment alternatives is being driven by the direct increase in Alzheimer's risk caused by this growing cohort.

Emerging Treatment Options: Encouraging concepts are entering late-stage clinical studies in the rapidly expanding worldwide pipeline for Alzheimer's therapies. Different components of the illness are addressed by some drugs, which gives hope for improved therapeutic possibilities. The Etermis clinical study for EMERG-01, which focuses on Tau protein aggregation, exemplifies how local initiatives can support global advancements in healthcare.

Growing Awareness and Diagnosis: Increased reported prevalence and more precise diagnoses are being produced by public awareness initiatives and better access to medical facilities. This may increase consumer demand for available treatment choices.

Market Restraints

Limited Access to Specialists: Most neurologists and other specialists who treat Alzheimer's disease are located in urban areas. This makes it more difficult for rural populations to receive proper diagnosis, treatment, and follow-up, which is detrimental to patient outcomes and market penetration.

High Costs: The high cost of new treatments such as Leqembi places a significant financial burden on patients with Alzheimer's disease and their families. Limited insurance coverage for chronic illnesses exacerbates this issue by forcing many people to choose between costly medical care and other necessities. This can hinder the growth of the market by preventing a significant portion of the population from accessing new medicines.

Lack of Awareness and Stigma: As dementia and Alzheimer's disease are still stigmatized in society, many people cannot get a diagnosis or treatment, even despite the growing number of awareness campaigns. One of the main barriers preventing the market from reaching a larger spectrum of consumers is this stigma.

Healthcare Policies and Regulatory Landscape

The Food and Drug Administration (FDA) is in charge of overseeing the regulatory framework for healthcare policies and the approval of therapeutic drugs in the Philippines. The FDA is the federal regulatory body in charge of guaranteeing the efficacy, safety, and caliber of medications, medical equipment, and other healthcare supplies. When assessing and approving medications for the market, the FDA in the Philippines adheres to a set of rules and regulations. Pharmaceutical companies that want to get their therapeutic drugs approved must go through a rigorous review process and submit proof from preclinical and clinical trials that the therapy is safe and effective. The FDA verifies that the data is compliant with international standards and assesses its submissions. Apart from the clearance of drugs, the Department of Health (DOH) holds significant influence in creating healthcare policies inside the Philippines. The DOH is in charge of creating health plans, policies, and initiatives to offer the general public easily accessible and reasonably priced healthcare services.

Competitive Landscape

Key Players

  • Pfizer
  • Novartis
  • Johnson & Johnson
  • Roche
  • Eli Lilly
  • Biogen
  • AstraZeneca
  • Merck & Co.
  • AbbVie
  • Eisai

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Philippines Alzheimer’s Therapeutics Market Segmentation

By Type

  • Early-Onset Alzheimer's
  • Late-Onset Alzheimer's
  • Familial Alzheimer's disease

By Drug Name

  • Donepezil
  • Rivastigmine
  • Memantine
  • Galantamine
  • Manufactured a combination of memantine and donepezil

By Drug Class

  • Cholinesterase Inhibitors
  • NMDA Receptor Antagonists
  • Manufactured Combination

By End-Users

  • Hospitals
  • Specialty Clinics
  • Homecare
  • Others

By Distribution Channel

  • Hospital pharmacies
  • Drug stores
  • Retail pharmacies
  • Online pharmacies
  • Other distribution channel

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 09 April 2024
Updated by: Anish Swaminathan

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