Vietnam Alzheimer’s Therapeutics Market Analysis

Vietnam Alzheimer’s Therapeutics Market Executive Summary

Vietnam alzheimer’s therapeutics market valued at $24 Mn in 2022, projected to reach $49 Mn by 2030 with a 9.33% 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.

An estimated 430,000 people in Vietnam who are 65 years of age or older suffer from dementia, accounting for 1.4% of the country's total population. Shortly, it is expected that this prevalence will rise, mainly due to the aging population in the country. Significant obstacles are presented by the lack of diagnostic facilities and low awareness, especially in rural areas where access to specialist healthcare services is typically limited, which may lead to underdiagnosis. Cultural issues also come into play; like in certain Vietnamese communities, the shame associated with dementia may deter people from getting an early diagnosis and treatment. Furthermore, the situation is made worse by Vietnam's rapidly aging population, which increases the number of people at risk for Alzheimer's and highlights the critical need for preventative healthcare programs.

With lecanemab, Eisai's BACE inhibitor, the company has accomplished a remarkable milestone: in a Phase 3 clinical trial, it effectively met its primary target, demonstrating a statistically significant and clinically important slowing of cognitive decline in Alzheimer's patients.

Phase 2 clinical trials for Novartis' anti-tau antibody, BAN2401, have begun as the company actively investigates its potential. Early research suggests that it may be able to lessen the buildup of tau protein in the brain, which is a critical component in the development of Alzheimer's disease.

Market Dynamics

Market Growth Drivers

Aging Population: Vietnam's population is aging quickly; by 2050, the proportion of adults over 65 is predicted to have doubled. A greater proportion of this aging population is susceptible to age-related neurological disorders such as Alzheimer's. Because of this change in the population, there will be more patients available, which will increase the demand for efficient therapies.

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.

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.

Market Restraints

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.

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.

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 Ministry of Health (MOH) and its subsidiary organization, the Drug Administration of Vietnam (DAV), are principally in charge of managing healthcare regulations and therapeutic drug oversight in Vietnam. The DAV is essential to the development and execution of national policies concerning pharmaceutical registration, import, manufacturing, distribution, and quality control. The Drug Law, which establishes standards for drug management and guarantees the security, effectiveness, and caliber of pharmaceuticals, is adhered to by the regulatory framework. Pharmaceutical companies must present extensive dossiers to the DAV with proof of the drug's quality, safety, and efficacy for the DAV to approve and register the medication. To ensure adherence to set standards, the regulatory procedure entails comprehensive assessments. The medications can be produced, imported, or sold in Vietnam after receiving approval. The National Pharmacy and Therapeutics Committee, in addition to the DAV, influences the regulatory environment by offering suggestions on medication choice, administration, and formulary management. This group helps to guarantee cost-effectiveness in healthcare practices and optimize treatment regimens.

Competitive Landscape

Key Players

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