Philippines Atherosclerosis Therapeutics Market Analysis

Philippines Atherosclerosis Therapeutics Market Executive Summary

Philippines Atherosclerosis Therapeutics Market was valued at $6 Mn in 2022 and is estimated to reach $10 Mn in 2030, exhibiting a CAGR of 6.2% during the forecast period.

Plaque, a sticky substance made of calcium, fat, cholesterol, and other ingredients, builds up inside the artery walls as a result of atherosclerosis. Because of this accumulation, there is a higher chance of developing severe conditions, including heart attacks and strokes, which constrict or clog blood vessels. Atherosclerosis can be caused by a variety of factors, such as high blood pressure, high cholesterol, diabetes, obesity, smoking, a family history of heart disease, inactivity, and an unhealthful diet. Several drugs, such as beta-blockers, aspirin, and statins, have shown potential in preventing or reducing the advancement of atherosclerosis.

The Philippines high rates of cardiovascular disease prevalence raise serious health issues. Coronary, cerebrovascular, and peripheral arterial diseases exhibit a prevalence of 1.1%, 0.9%, and 1.0%, respectively. In 17 different regions of the nation, heart failure, a serious illness, affects 16 out of 1000 patients who are admitted at the age of 19 or older. Coronary, cerebrovascular, and peripheral arterial diseases exhibit a prevalence of 1.1%, 0.9%, and 1.0%, respectively. Approximately 5.5% of people have hypercholesterolemia. Body mass index (BMI) measurements show that 3.2% of men and 6.6% of women are obese, a complex risk factor. The prevalence rates rise to 12.1% for men and substantially higher to 54.8% for women when the waist-hip ratio is taken into account. Smoking, a well-known contributor to cardiovascular issues, is widespread, with an overall prevalence of 34.8%. In terms of gender distribution, 12.1% of women and 56.3% of males smoke. The Philippines has a unique health environment with high prevalence rates of diabetes, smoking, and sodium consumption. Because these variables work together to promote the development of atherosclerosis, comprehensive public health initiatives are necessary to address and reduce these risk factors in the general population.

In the quest for more effective atherosclerosis treatment, the focus has expanded beyond traditional statins to novel therapeutic avenues addressing inflammation, thrombosis, and plaque stability. Emerging medication classes include PCSK9 inhibitors, which target LDL-C lowering, CETP inhibitors, which affect lipid metabolism, and anti-inflammatory medicines, which target inflammation. At the same time, customized medicine is becoming more popular. It involves customizing therapies for each patient based on their genetic background and unique characteristics, using pharmacogenomics to anticipate drug reactions. Additionally, early-stage research is examining the potential of gene editing technologies, particularly CRISPR-Cas9, to target the underlying genetic variables that contribute to atherosclerosis and potentially provide accurate and long-lasting therapeutic interventions. When considered together, these developments represent a paradigm shift in the treatment of atherosclerosis, presenting the possibility of more accurate, thorough, and customized approaches to this complex cardiovascular disease.

Market Dynamics

Market Growth Drivers

Aging Population: The Philippines is experiencing rapid population aging, with the percentage of people over 60 projected to reach 15% by 2030. This demographic shift amplifies the demand for atherosclerosis treatment drugs, as the elderly population is inherently at a heightened risk of developing atherosclerosis and related complications, thereby acting as a significant market growth driver in Philippines.

Rising Prevalence of Risk Factors: Given the sizeable prospective patient population in need of treatment, the high incidence of risk factors such as obesity, diabetes, hypercholesterolemia, and hypertension in the Philippines encourages market expansion for atherosclerosis therapy drugs. Body mass index (BMI) assessments reveal that 3.2% of men and 6.6% of women are affected by obesity, representing a multifaceted risk factor. Widespread at 34.8% overall prevalence in the Philippines, smoking, a recognized cardiovascular risk factor, shows a significant gender disparity, with 12.1% of women and 56.3% of men being smokers.

Advancements in Drug Development: To address the needs of a growing patient base and a variety of demands, pharmaceutical companies' persistent efforts to develop novel atherosclerosis drugs tailored to various pathways and patient needs are expected to accelerate market expansion in the Philippines.

Market Restraints

Healthcare infrastructure limitations: Inequitable access to healthcare services, particularly in remote regions, may impede prompt identification and treatment of atherosclerosis. A lack of knowledge about risk factors and financial difficulties brought on by inadequate insurance coverage for chronic conditions like atherosclerosis might cause delays. These challenges in the Philippines's healthcare infrastructure impact patient awareness, accessibility, and financial support, posing obstacles to effective atherosclerosis management.

Affordability: A large fraction of the population has barriers to accessibility because of the high cost of modern atherosclerosis treatment drugs, as well as expenses from imported medications due to import tariffs and exchange rate changes. Even with the growing availability of generic medications, there are still gaps in affordability that mostly affect people with low incomes and those living in remote regions. This affordability issue affects a significant portion of the population that has financial difficulties and impedes the wider acceptance and accessibility of atherosclerosis drug treatment in the Philippines.

Compliance and Adherence Issues: The prolonged use of drugs in atherosclerosis treatment poses challenges such as adverse effects, forgetfulness, and low motivation for some patients. Managing numerous prescriptions for different medical conditions makes adherence problems worse, which could limit the commercial potential of atherosclerosis treatment options because of difficulties with patient compliance.

Healthcare Policies and Regulatory Landscape

The Food and Drug Administration (FDA) and the Department of Health (DOH) are largely in charge of managing healthcare policies and providing regulatory control for prescription pharmaceuticals in the Philippines. In order to guarantee the safety, effectiveness, and quality of pharmaceutical products, the FDA is essential in the evaluation and approval process. It upholds laws pertaining to clinical trials, post-marketing surveillance, and drug registration. On the other side, the DOH develops and carries out healthcare policies, including those pertaining to drug distribution, affordability, and accessibility. In order to protect the public's health, various regulatory authorities must work together to uphold a strong framework that controls the creation, authorization, and distribution of therapeutic medications in the Philippines.

Competitive Landscape

Key Players

• Novartis
• Pfizer
• AstraZeneca
• Eisai
• Merck Sharp & Dohme
• Sanofi
• Bayer
• Abbott
• Johnson & Johnson
• Roche