[Edaily Reporter Kim Seung-kwon ] The global Alzheimer’s treatment market is rapidly racing toward sales in the trillions. With Eisai and Biogen’s “Leqembi” and Eli Lilly’s “Kysena” both successfully expanding their prescriptions, the market as a whole is said to be gaining momentum.

Amid this trend, analysts suggest that NEUROPHET Inc. is facing new growth opportunities. In particular, as the demand for side effect monitoring—a common requirement for both treatments—aligns precisely with NEUROPHET Inc.’s core business area, expectations are growing that increased sales of these treatments will directly translate into higher revenue for NEUROPHET Inc. PharmDaily analyzed the reasons behind the growing influence of Alzheimer’s treatments and the rationale for the potential benefits NEUROPHET Inc. may receive in the future.

Revenue Exceeds the Trillion Won Mark... Why Is the Influence of Alzheimer’s Treatments Growing

?
According to a recent company filing, Lecembi recorded global sales of 88 billion yen last year (Eisai’s fiscal year 2025, April 2025–March 2026). Converted to Korean won, this amounts to approximately 830 billion won, putting the drug on the verge of reaching the trillion-won sales mark.

The growth trend is even more pronounced on a quarterly basis. Starting at 14.7 billion yen (approximately 145 billion won) in the first quarter, sales rose to 23.1 billion yen (approximately 216 billion won) in the second quarter and reached 61.8 billion yen (cumulative for Q1–Q3) in the third quarter—a 109% increase compared to the same period last year. Eisai has set a goal to more than triple Lecembi’s annual sales to 300 billion yen (approximately 2.8 trillion won) by fiscal year 2028, as the number of prescribing specialists expands globally.

Kisena is also showing strong growth. Sales, which stood at $21.5 million (approximately 30 billion won) in the first quarter of last year (2025), rose to $49 million (approximately 67.5 billion won) in the second quarter, $70.4 million in the third quarter, and $109 million (approximately 156 billion won) in the fourth quarter. In the first quarter of this year, the company recorded $124 million (approximately 177 billion won), setting yet another record high. This means that quarterly revenue has surged more than fivefold in just one year.

Converted to Korean won, the combined sales of these two treatments last year approached 1 trillion won. Industry experts predict that these two treatments alone could generate annual sales in the trillions of won by the end of this year.

Behind this growth lies a shift in the regulatory environment. The approval of subcutaneous injection formulations has improved convenience, significantly increasing patient access, and the user base is projected to expand by 30–40% due to the expansion of insurance coverage, including Medicare. The market structure itself is also changing. The industry’s consensus is that the perception of Alzheimer’s has shifted from an “incurable disease” to a “disease that must be diagnosed and treated early.”

Professor A from the Department of Psychiatry at a domestic university hospital stated, “While circumstances may vary by hospital, timely interpretation is essential, and AI programs are of great help in cases where immediate interpretation is difficult,” adding, “Accuracy has also been improving recently, making them useful in clinical practice.” He explained that the value of AI-assisted interpretation is likely to be greater at medical institutions with a shortage of radiologists or limited experience with anti-amyloid therapies.

ARIA Side Effects of Lecembi and Kysena… Where NEUROPHET Inc. Is Making Its Mark

A common challenge shared by both treatments is side effects. Both Lecembi and Kysena are anti-amyloid antibody drugs, and during the process of removing amyloid beta from the brain, “amyloid-related imaging abnormalities (ARIA)” such as cerebral vascular edema (ARIA-E) or microhemorrhages (ARIA-H) frequently occur.

According to a paper published by researchers in the UK and the Netherlands, approximately 3 out of every 10 patients in the treatment groups experienced ARIA, with ARIA occurring in 21.5% of Lecembi recipients and 36.8% of Kisenra recipients. These figures are significantly higher than those in the placebo groups (9.5% and 14.9%, respectively). The rate of treatment discontinuation due to side effects also reached 6.9% for Lecembi and 13.1% for Kysena.

As a result, the U.S. Food and Drug Administration (FDA) has established guidelines requiring the monitoring and quantification of ARIA occurrence through regular brain MRI scans, not only in clinical trials of new anti-amyloid drugs but also during actual prescribing. This has created a structure where the demand for MRI interpretation increases as the number of patients receiving these treatments grows. This is precisely where NEUROPHET Inc. is making its mark in the market.

NEUROPHET Inc.’s flagship product, “Neurofit Aqua AD Plus,” is a comprehensive brain imaging analysis solution that uses AI to automatically detect and quantify ARIA in patients receiving Lecembi or Kysena. Regular imaging is essential to track symptoms such as cerebral edema or microbleeds without missing them; NEUROPHET Inc.’s key competitive advantage lies in its AI’s ability to rapidly identify subtle changes in lesions, thereby reducing the time and workload required of radiologists. NEUROPHET Inc. obtained U.S. FDA 510(k) clearance in the first half of this year, a move widely viewed as giving the company a strategic advantage in establishing partnerships with multinational pharmaceutical companies.

In addition, the growth of the diagnostics and biomarker markets themselves is creating a favorable environment for NEUROPHET Inc. The global Alzheimer’s biomarker market is projected to grow from $2.25 billion (approximately 3.2 trillion won) in 2025 to $4.72 billion (approximately 6.7 trillion won) in 2034. The blood-based biomarker diagnostics market is also projected to grow at a compound annual growth rate (CAGR) of 17.4%, expanding from $195 million in 2026 to $530 million in 2033. Brain imaging analysis is one of the core pillars of this biomarker ecosystem, and its importance is increasing throughout the entire process—from pre-treatment patient screening to verification of treatment efficacy and monitoring of side effects.

A NEUROPHET Inc. official explained, “As the number of patients receiving treatment increases, we expect demand for NEUROPHET Inc.’s brain imaging analysis solutions to expand across processes such as pre-treatment diagnosis, verification of treatment efficacy, and monitoring of side effects.” The official added, “Furthermore, as expectations are rising for securing additional contracts in our imaging CRO business, this is expected to have a positive impact on future performance.” The representative further emphasized, “We aim to complete technology validation with global big pharma companies such as Roche and Eli Lilly by the end of the year, with the goal of securing a commercialization agreement at a significant stage.”