Singapore Alzheimer’s Therapeutics Market Analysis

Singapore Alzheimer’s Therapeutics Market Executive Summary

Singapore alzheimer’s therapeutics market valued at $6 Mn in 2022, projected to reach $12 Mn by 2030 with a 9.7% 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 Singapore, 5.7% of people 60 years of age and older have dementia, with Alzheimer's disease being the most common kind, affecting about 80,000 people. The population of the country is aging quickly; estimates indicate that by 2030, there will be more than 1 Mn people over the age of 65. This shift in demographics naturally increases the risk of Alzheimer's because the disease is associated with aging. Furthermore, increased public awareness campaigns and better healthcare accessibility lead to more precise diagnoses, which may cause the reported prevalence of Alzheimer's disease to rise as the nation's diagnostic capacities and awareness grow.

The innovative LMTX medication, developed by renowned biotech company TauRx, with its headquarters in Singapore, is about to wrap up Phase II clinical trials. The treatment is specifically intended to target Tau protein aggregation, a major indicator of Alzheimer's disease.

Leading Japanese pharmaceutical company Eisai Co., Ltd. is rapidly collecting real-world data and monitoring post-approval for the ground-breaking Alzheimer's medication Leqembi (lecanemab). Notably, Leqembi is the first and only medication approved to treat Alzheimer's, and thanks to a strategic partnership with Biogen Inc., it is now available in Singapore. By collecting more data, Eisai aims to improve the understanding of Leqembi's long-term effectiveness and safety profile, which will help advance the field of Alzheimer's treatment.

Market Dynamics

Market Growth Drivers

Aging Population: Singapore's population is aging quickly; by 2030, there will be more than a Mn people in Singapore who are 65 years of age or older. Alzheimer's prevalence climbs with age, therefore this directly raises the risk of developing the disease. Because of this change in the population, there will be more patients available, which will increase the demand for efficient therapies.

Emerging Treatment Options: Exciting developments in Alzheimer's therapy late-stage clinical studies address different facets of the illness and provide hope for better treatments. The Etermis clinical study for EMERG-01, which focuses on Tau protein aggregation, is an example of how regional efforts can advance global healthcare and ultimately help the market for Alzheimer's medicines grow.

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: Due to the concentration of neurologists and experts treating Alzheimer's disease in urban areas, it might be difficult for rural communities to receive appropriate diagnosis, treatment, and follow-up care. This discrepancy impedes patient results and limits the uptake of Alzheimer's medicines in the market.

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: Despite the growing frequency of awareness initiatives, the stigma associated with dementia and Alzheimer's disease in society still prevents people from seeking a diagnosis or the right treatment. This stigma is a notable barrier that keeps the market from reaching a wider segment of the population and serves as a major market constraint.

Healthcare Policies and Regulatory Landscape

The Health Sciences Authority (HSA), a significant organization under the Ministry of Health, oversees Singapore's regulatory environment for therapeutic medications. Ensuring the efficacy, safety, and quality of health products, especially pharmaceuticals, is the responsibility of the HSA, which also manages the approval procedure for new drugs. Before their medications may be promoted and sold in Singapore, pharmaceutical companies must submit thorough applications and go through a rigorous screening process that includes reviewing clinical trial data, safety profiles, and manufacturing standards. Following approval, the HSA conducts post-market surveillance operations, such as adverse event reporting and inspections, to keep an eye on the effectiveness and safety of pharmaceuticals. To ensure that healthcare is affordable for patients, the Ministry of Health (MOH) is also involved in policy, especially when it comes to topics like drug pricing.

Competitive Landscape

Key Players

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