Saudi Arabia Alzheimer’s Therapeutics Market Analysis

Saudi Arabia Alzheimer’s Therapeutics Market Executive Summary

Saudi Arabia alzheimer’s therapeutics market valued at $82 Mn in 2022, projected to reach $183 Mn by 2030 with a 10.6% CAGR.

Alzheimer's is a neurological condition that impairs behavior, memory, and mental functions. It usually starts slowly, gets worse with time, and makes it harder for the person to perform daily tasks. Nerve cells in Alzheimer's disease die as a result of abnormal brain alterations such as plaque and tangle buildup. Alzheimer's disease does not currently have a cure. On the other side, some drugs can increase the quality of life and assist manage symptoms. By controlling certain chemicals in the brain, these medications including donepezil, rivastigmine, and memantine alleviate memory and cognitive issues. Furthermore, maintaining a healthy lifestyle, engaging in social and cognitive activities, and fostering a supportive environment are examples of non-pharmacological techniques that may improve overall illness management.

Alzheimer's disease (AD) affects 5% of Saudi Arabians overall, with a rising frequency observed in those over 65. This means that about 130,000 people nationwide are estimated to have Alzheimer's disease. The prevalence of dementia as a larger term, encompassing Alzheimer's disease as well as other disorders, is 6.4% in Saudi Arabia. Dementia prevalence rates in the Middle East are 10% for those 75–79 years old, 16% for people 80–84 years old, and 29% for people 85 years and beyond. Alzheimer's results in cognitive decline and memory loss that is irreversible and progressive, which can induce total dependence, behavioral dysregulation, infection susceptibility, and eventually death. An aging population is one of the causes contributing to the growing prevalence; in Saudi Arabia, the percentage of people over 65 is predicted to quadruple by 2050. Alzheimer's risk factors in the area are also being investigated as possible causes, including lifestyle problems including diabetes, obesity, and insufficient physical exercise, as well as genetic risk factors.

The National Alzheimer's Research Program was started in 2017 by the Saudi Ministry of Health as a strategic project to coordinate and advance research on Alzheimer's disease inside the Kingdom of Saudi Arabia. Through project financing, researcher collaboration, and raising awareness of Alzheimer's disease, this initiative is essential to supporting research endeavors.

To increase its contributions to Alzheimer's research, Saudi Arabia is actively participating in international partnerships. Notably, the King Abdullah University of Science and Technology (KAUST) and the Alzheimer's Disease Research Centre at Mayo Clinic entered into a partnership agreement. This partnership demonstrates KAUST's dedication to collaborative research projects with prestigious international institutions in the pursuit of improving our understanding and management of Alzheimer's disease.

Market Dynamics

Market Growth Drivers

Rising Prevalence of Alzheimer's Disease: The aging population in Saudi Arabia increases the vulnerability to Alzheimer's disease, increasing the number of people who are at risk. The market for drugs used to treat Alzheimer's disease is gradually expanded by this demographic shift.

Increased Awareness and Early Diagnosis: More people are seeking therapy for Alzheimer's because of increased public knowledge of the illness and advancements in testing technology, which facilitates early diagnosis. The window of opportunity for potential improvement is extended when actions involving prospective disease-modifying medications are started early.

Entry of New Disease-Modifying Therapies: With the recent approval of Biogen's Aduhelm and Eisai's Leqembi, along with promising new medications like Eli Lilly's Donanemab and Genentech's Gantenerumab, there is hope for slowing the course of the disease and maybe modifying the underlying pathology. These new medicines, in contrast to existing symptomatic therapies, target a more comprehensive unmet requirement. Because of these advancements in treatment, the industry is still expanding. Treatment innovations like this help to sustain the market's continuous growth. Improvements in treatment such as these support the market's ongoing expansion.

Market Restraints

High Drug Costs and Affordability Concerns: For many patients, access to Alzheimer's medications is severely hampered by the treatments' outrageous cost. This problem is especially significant in Saudi Arabia since the insurance industry's coverage of these medications is currently developing. Co-payments, even in the case of insurance, can place a significant financial strain on patients and their families.

Limited Efficacy and Uncertain Long-Term Benefits: The effectiveness of current drugs, including Leqembi and Aduhelm, in slowing down cognitive deterioration is questionable, and their long-term sustainability is also questionable. Hesitancy is caused by several factors, including the lack of a clear remedy or solid proof that the disease has improved.

Lack of Awareness and Stigma: The enduring societal stigma attached to dementia and Alzheimer's disease prevents many people from obtaining a diagnosis and treatment, even despite the increasing number of awareness initiatives. This stigma is a major obstacle that limits the market's ability to reach a broader demographic.

Healthcare Policies and Regulatory Landscape

The Saudi Food and Drug Authority (SFDA) is in charge of healthcare regulations and regulatory authority in Saudi Arabia about medications used to treat Alzheimer's disease. When it comes to assessing and overseeing pharmaceutical products including those meant to treat Alzheimer's disease, the SFDA is a crucial player.

The SFDA is responsible for drug registration, approval, and post-marketing surveillance in Saudi Arabia. For regulatory assessment, pharmaceutical companies must provide extensive data on the quality, safety, and efficacy of their Alzheimer's medications. Before authorizing marketing and distribution, the SFDA evaluates these submissions to make sure the medications fulfill specified requirements.

Competitive Landscape

Key Players

• Eisai
• Janssen Pharmaceuticals
• Biogen
• Eli Lilly
• Roche
• Merck
• Genentech
• AbbVie
• Novartis
• Pfizer