Spain Alzheimer’s Therapeutics Market Analysis

Spain Alzheimer’s Therapeutics Market Executive Summary

Spain alzheimer’s therapeutics market valued at $93 Mn in 2022, projected to reach $73 Mn by 2030 with a 8.1% CAGR.

Alzheimer's is a neurological condition that impairs memory, behavior, and mental health. Usually, it starts slowly, gets worse with time, and makes it harder for the individual to do 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. In contrast, some drugs can help manage symptoms and enhance quality of life. To treat memory and cognitive issues, these medications, which include donepezil, rivastigmine, and memantine, modulate specific neurotransmitters in the brain. Furthermore, non-pharmacological approaches including maintaining a healthy lifestyle, engaging in social and cognitive activities, and fostering a supportive environment might improve overall illness management.

In Spain, there are over 900,000 people with various forms of cognitive decline, with Alzheimer's disease accounting for 60-70% of these cases, which translates to approximately 540,000 to 630,000 individuals with Alzheimer's as of 2022. The prevalence of Alzheimer's increases with age, affecting 2.4% to 6.9% of individuals aged 65 and above, and 15-20% of those aged 80 and beyond. The aging population in Spain is expected to lead to a substantial increase in Alzheimer's cases in the coming decades, with projections indicating a doubling of the affected population.

Phase 2 trials are presently being conducted by Roche and its Spanish partner, the Alzheimer's Diagnostic and Therapeutic Foundation (FISABIO), for BIIB037, a tau aggregation inhibitor that shows promise for treating moderate cognitive impairment linked to Alzheimer's disease. It is anticipated that the trials will yield findings in late 2024 or early 2025.

The Spanish startup Lumo Pharma is moving on with Phase 2 studies for LMTX-803, a medication that targets amyloid plaques and Tau pathology. Promising cognitive and functional benefits are suggested by initial evidence, which represents a significant advancement in the search for effective treatments for Alzheimer's disease.

Market Dynamics

Market Growth Drivers

Aging Population and Rising Life Expectancy: Spain's population is aging quickly, by 2050, there will be twice as many individuals over 65. Given that the likelihood of acquiring Alzheimer's disease rises with age, this will result in a notable rise in the population affected by the condition. Spain's increasing life expectancy is a result of better living conditions and healthcare, which also implies that more individuals are enduring Alzheimer's for longer periods, which increases the demand for pharmaceuticals treating Alzheimer's.

Emerging Disease-Modifying Therapies: To address the underlying causes of the illness, new treatments that attempt to delay or even reverse the course of the disease have been developed thanks to the tremendous progress made in research toward groundbreaking discoveries. In addition to approved Disease-Modifying Therapies (DMTs) like Leqembi and Aduhelm, promising prospects in the development pipeline are also fuelling industry excitement and propelling market expansion. These developments point to a paradigm-shifting time in Alzheimer's disease treatment and a movement toward more effective therapy.

Increased Awareness and Improved Diagnosis: In Spain, there is a growing public awareness of Alzheimer's disease, which is resulting in earlier diagnosis and a higher propensity to seek treatment. Advocacy initiatives, media attention, and campaigns are what are generating this awareness. Technological developments in biomarkers and diagnostic tools enable an earlier and more precise diagnosis of Alzheimer's disease, which opens the door to early intervention and the possibility of treating the illness in its early stages.

Market Restraints

Lack of Awareness and Stigma: The ongoing social stigma attached to dementia and Alzheimer's disease keeps many people from getting a diagnosis and treatment, especially despite the increasing number of awareness campaigns. This stigma is a major obstacle keeping the market from reaching a larger customer base.

Limited Efficacy and Uncertain Long-Term Benefits: The long-term sustainability and effectiveness of existing drugs, like Leqembi and Aduhelm, to delay cognitive deterioration is under question. Hesitancy can be caused by several things, including the lack of a convincing cure or solid proof of improved health.

High Cost of Drugs: The high cost of branded Alzheimer's medications like Exelon and Aricept places a significant financial burden on patients and their families, which may lead to treatment noncompliance, treatment abandonment, or a delayed diagnosis. The lack of reasonably priced generic substitutes further restricts access for those with lower incomes.

Healthcare Policies and Regulatory Landscape

The Spanish Agency for Medicines and Medical Devices, also known as AEMPS, is primarily in charge of overseeing the country's healthcare policy and treatment drug regulations. AEMPS plays a vital role in guaranteeing the safety, effectiveness, and quality of medications in Spain and is managed by the Ministry of Health, Consumer Affairs, and Social Welfare (Ministerio de Sanidad, Consumo y Bienestar Social). AEMPS is in charge of assessing, approving, and monitoring pharmaceutical products, including medications used for treatment. It works in tandem with the European Medicines Agency (EMA) to ensure compliance with EU legislation. Its operations include pharmacovigilance, post-marketing surveillance, and regulatory clearance procedures.

Competitive Landscape

Key Players

• Biogen
• Eisai Co
• Janssen Pharmaceuticals
• Novartis
• Pfizer
• Lundbeck
• Merck & Co
• AstraZeneca
• Eli Lilly
• STA Pharmaceutical