South Africa Atherosclerosis Therapeutics Market Analysis

South Africa Atherosclerosis Therapeutics Market Executive Summary

South Africa Atherosclerosis Therapeutics Market was valued at $18 Mn in 2022 and is estimated to reach $31 Mn in 2030, exhibiting a CAGR of 6.93% during the forecast period.

Atherosclerosis causes plaque, a viscous material made up of calcium, fat, cholesterol, and other substances, to build up inside the walls of arteries. This accumulation increases the chance of major illnesses, including strokes and heart attacks, which can narrow or obstruct blood vessels. Numerous variables, such as high blood pressure, high cholesterol, diabetes, obesity, smoking, a family history of heart disease, a sedentary lifestyle, and an unhealthy diet, can cause atherosclerosis. Numerous drugs, including statins, aspirin, and beta-blockers, have shown potential in slowing or stopping the development of atherosclerosis.

Non-communicable diseases (NCDs) like dyslipidaemia, diabetes, and hypertension are prevalent in South Africa and represent a serious risk for atherosclerosis. With individuals having high total cholesterol of 23.9%, raised LDL cholesterol of 28.8%, and low HDL cholesterol of 47.9%, the prevalence of aberrant cholesterol levels is remarkable. It is predicted that the prevalence of age-related diseases like atherosclerosis will rise as South Africa's population ages. In South Africa, more than 5.4 Mn people, or 9.2% of the total population, are 60 years of age or older. According to projections, this percentage will quadruple by 2050 to represent around 15.4% of the world's population.

In South Africa, various international pharmaceutical companies are actively engaged in clinical trials for innovative drugs targeting diverse facets of atherosclerosis, including CETP inhibitors and PCSK9 inhibitors. The success of these trials holds the potential to introduce cutting-edge treatment options to the South African market. Furthermore, local research institutions and universities are actively participating in clinical trials focused on atherosclerosis interventions, underscoring South Africa's expanding role and contribution to global research endeavours in this critical medical field. This collaborative effort between global pharmaceutical entities and local research institutions signifies a collective commitment to advancing atherosclerosis treatment options and promoting research excellence in South Africa.

Market Dynamics

Market Growth Drivers

Ageing population: In South Africa, more than 5.4 Mn people, or 9.2% of the total population, are 60 years of age or older. According to projections, this percentage will quadruple by 2050 to represent around 15.4% of the world's population. This rise in the elderly population underscores the increasing risk of atherosclerosis due to age-related factors. With the demand for effective treatments on the rise, the growing aging demographic presents a substantial opportunity for the expansion of the atherosclerosis drug treatment market in South Africa.

Improved Diagnosis and Awareness: Increased access to diagnostic tools such as angiography and ultrasonography, supported by public-private funding and government initiatives, is promoting early detection and treatment initiation in South Africa. Greater investments in healthcare infrastructure and impactful public awareness campaigns are driving the growth of the atherosclerosis drug treatment market. The presence of advanced diagnostic technologies aids early detection, while heightened public awareness fosters demand for both preventive measures and treatments, fostering market expansion.

Advancements in Drug Development: In response to the increasing number of patients and diverse requirements, pharmaceutical companies are anticipated to intensify their ongoing endeavours in creating innovative atherosclerosis drugs, customized to different pathways and patient needs. This concerted effort is poised to expedite the expansion of the market in South Africa.

Market Restraints

Lack of Awareness and Education: Insufficient awareness about atherosclerosis, its risk factors, and available treatments may lead to delayed diagnosis and hinder timely medical intervention. Stigmas associated with chronic conditions like atherosclerosis can deter individuals from seeking necessary care and adhering to treatment plans. The quality of care may be affected by healthcare professionals limited knowledge and experience in managing non-communicable diseases like atherosclerosis. This knowledge gap and lack of education pose significant constraints on the market for atherosclerosis treatment drugs in South Africa, resulting in challenges in delivering appropriate therapies, delayed diagnoses, and cultural barriers to seeking medical attention, all of which collectively impede market growth.

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.

High cost of drugs: The high cost of original pharmaceuticals is a major barrier to the treatment of atherosclerosis in South Africa, especially for people living in remote regions and those with minimal financial resources. Branded drugs are extremely expensive. This functions as a market constraint, impeding these demographic groups access to necessary atherosclerosis treatments.

Healthcare Policies and Regulatory Landscape

The Department of Health (DOH) and the South African Health Products Regulatory Authority (SAHPRA) are the national health departments in South Africa that are in charge of regulating therapeutic drugs and healthcare regulations. In order to guarantee the availability, affordability, and calibre of medical services, including prescription drugs, the Department of Health is a major player in the development and execution of healthcare policy. Under the DOH, the South African Health Products Regulatory Authority is in charge of policing and supervising the licensing, safety, quality assurance, and registration of health products, including prescription drugs. By working together, these regulatory agencies have created a thorough framework that will control the creation, authorization, and dispensing of treatment medications in South Africa, with an emphasis on maintaining efficaciousness and safety requirements to safeguard the general public's health.

Competitive Landscape

Key Players

• Pfizer
• Novartis
• Sanofi
• AstraZeneca
• Merck Sharp & Dohme
• Bayer
• Johnson & Johnson
• Aspen Pharmacare
• Cipla Medpro
• Adcock Ingram