Saudi Arabia Atherosclerosis Therapeutics Market Analysis

Saudi Arabia Atherosclerosis Therapeutics Market Executive Summary

Saudi Arabia Atherosclerosis Therapeutics Market was valued at $48 Mn in 2022 and is estimated to reach $83 Mn in 2030, exhibiting a CAGR of 7.2% during the forecast period.

Vascular constriction or blockage caused by plaque buildup is known as atherosclerosis. The plaque that is created by the combination of poor cholesterol and white blood cells might disrupt the body's normal blood flow. Damage to the inner lining of the blood vessel facilitates the attachment of dangerous cholesterol to the vessel walls. Plaque forms when the body's natural removal mechanism, cells, gets stuck from time to time. It is possible for this plaque to clog the channel, reducing blood flow and increasing the risk of potentially fatal conditions such as heart attacks and strokes. Several things can contribute to atherosclerosis, such as high blood pressure, high cholesterol, diabetes, obesity, smoking, heart disease in the family, inactivity, and eating an unhealthy diet.

With over 201,300 Saudi citizens living with cardiovascular disease (CVD) and approximately 150,000 people suffering primarily from ischemic heart disease, a condition frequently linked to atherosclerosis, Saudi Arabia has a high burden of CVD. Atherosclerosis, a prominent underlying cause of these cardiovascular conditions, underscores the importance of addressing this vascular pathology. In addition, more than 23 percent of adult Saudi Arabians have 3 or more significant cardiovascular disease (CVD) risk factors, which include excessive blood pressure, diabetes, and unhealthy cholesterol. Remarkably, age is positively correlated with elevated risk of atherosclerosis in both sexes, with males often at higher risk at younger ages.

Recent trials have demonstrated the efficacy of Eli Lilly's Trulicity in the management of diabetes and cardiovascular risk factors, with promising results. These encouraging outcomes could lead to Trulicity having a larger market presence, especially in areas like Saudi Arabia.

Concurrently, Pfizer's research focuses on injectable statins, aiming to enhance adherence and efficacy in atherosclerosis treatment. The ongoing exploration of injectable statin formulations suggests potential advancements in the field, which could have a significant impact on global markets, including the healthcare landscape in Saudi Arabia.

Market Dynamics

Market Growth Drivers

Increasing Cardiovascular Disease Burden: A significant segment of the Saudi population suffers from cardiovascular diseases (CVD), with atherosclerosis being the most common underlying cause. According to estimates, about 201,300 people in Saudi Arabia were expected to have CVD. This highlights the urgent need for effective treatment options. In addition to increasing burden of CVD, the rising prevalence of risk factors such as diabetes, high blood pressure, and unhealthy cholesterol levels also increases the need for better atherosclerosis treatment techniques.

Aging Population: The aging of the population contributes significantly to the elderly's increased susceptibility to atherosclerosis, which has increased the demand for atherosclerosis-related therapeutics. According to projections, the proportion of Saudi Arabians 65 and older is expected to rise to 9.5% by 2035 and 18% by 2050. The aging population's increased vulnerability to atherosclerosis highlights the growing need to address treatment needs associated with this cardiovascular disease.

Advancements in Drug Development: Innovative drugs that address aspects of atherosclerosis other than just cholesterol regulation, for example, PCSK9 inhibitors and GLP-1 receptor agonists, offer more treatment options as well as enhanced market potential. The market is projected to stay active and positive due to ongoing research & development efforts that are focused on improving existing pharmaceuticals and investigating potential new therapeutics.

Market Restraints

Cost and Affordability: High prescription drug prices are a problem because many medications used to treat atherosclerosis are expensive and therefore out of reach for a large portion of society, particularly those with less access to healthcare or lower incomes. This limits market penetration and obstructs overall growth.

Regulatory Hurdles: Prolonged clinical trials and stringent regulatory processes can cause pharmaceutical companies to face obstacles and incur more costs, which delays the timely release of new medications onto the market. Insufficient transparency and clarity in the regulations that oversee regulatory procedures can create uncertainty for businesses, making it difficult for them to predict approval dates and handle the system effectively.

Patient Adherence: Long-term drug adherence is typically necessary for effective treatment of atherosclerosis, which can be difficult for some people. Non-adherence can result from a variety of factors, including unfavourable side effects, complex dose regimens, and a lack of evident instant benefits. If challenges develop, this could reduce the efficacy of treatment and raise medical expenses.

Healthcare Policies and Regulatory Landscape

The Saudi Food and Drug Authority (SFDA) oversees drug regulations and healthcare policies in Saudi Arabia. To guarantee the quality, safety, and effectiveness of pharmaceutical products, including treatment drugs, in the Kingdom, the SFDA is essential. The regulatory framework is characterized by stringent requirements, particularly for innovative medications. The SFDA serves as the primary regulatory agency in charge of drug registration, licensing, and post-market surveillance. It is in charge of establishing and upholding standards for pharmaceutical products to guarantee adherence to global best practices. The authority's responsibilities include performing inspections, assessing the scientific information supplied by pharmaceutical companies, and reaching well-informed decisions regarding drug approvals. By guaranteeing the availability of safe and effective pharmaceutical products and encouraging innovation in the healthcare industry, Saudi Arabia's healthcare policy and regulatory body for treatment medications seek to protect public health.

Competitive Landscape

Key Players

• Pfizer
• Novartis
• AstraZeneca
• Sanofi
• Bayer
• Johnson & Johnson
• Eli Lilly
• AbbVie
• Roche
• Amgen