Singapore Anti Aging Therapeutics Market Analysis

Singapore Anti Aging Therapeutics Market Analysis


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Singapore's anti-aging therapeutics market is projected to grow from $1 Mn in 2022 to $3 Mn in 2030 with a CAGR of 17.13% for 2022-30. The rising geriatric population and supportive government policies in Singapore are driving the expansion of the market. The Singapore anti-aging therapeutics market is segmented by product, treatment, target group, type of aging, type of molecules, mechanism of action, ingredient, and by distribution channel. Some of the key competitors in the market are Coformula, UpperMed, and Shiseido.

ID: IN10SGPH030 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Parul Choudhary

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Singapore Anti-Aging Therapeutics Market Executive Summary

Singapore's anti-aging therapeutics market is projected to grow from $1 Mn in 2022 to $3 Mn in 2030 with a CAGR of 17.13% for 2022-30. The departments with the highest expected budgets are Defence ($13.41 Bn total projected expenditure), Education ($10.89 Bn total projected expenditure), and Health ($12.59 Bn total projected expenditure).  Total spending across all ministries in Singapore is anticipated to grow from 2022 to $77.76 Bn in FY 2023. The Singapore General Hospital's Emergency Medicine Building and Elective Center, as well as IT infrastructure for new healthcare facilities and other significant IT initiatives, will all receive funding totaling $1.02 Bn from the Health Ministry.  To guarantee efficient healthcare delivery at hospitals, specialist centers, polyclinics, and community hospitals, the Health Ministry will also concentrate on hiring, training, and retaining healthcare workers as well as expanding clinical services.

Many people think of aging as solely a chronological occurrence; it is unavoidable that we all age. This, however, is a simplification because biological aging, as opposed to chronological aging, is more pertinent because everyone ages effectively differently. Numerous chronic diseases, such as Alzheimer's disease (AD), cancer, cardiovascular disease, and diabetes, have a significant effect on both individuals and society. Age is a major risk factor for many of these conditions. It may be wise to take into account systemic therapies, widely dispersed targets, or organ systems that can have widespread effects. Modulation of processes that are widespread, systemic, and possibly have multiple effects, such as targeting the plasma proteome, cellular senescence, proteostasis, and metabolic processes, are strategies with the potential for broad value.

Cardiovascular and neurological diseases are both severely incapacitating and, in many instances, fatal. Melatonin, an endogenous substance produced naturally by many cell types including the pineal gland, may play a significant role in the modulation of various aging-related processes in this context. This indoleamine can be used therapeutically and can be given exogenously with little risk. Because of this, melatonin may develop into a desirable and affordable option for slowing the effects of aging and diseases linked to it, such as cardiovascular and neurodegenerative conditions.

Singapore Anti Aging Therapeutics Market

Market Dynamics

Market Growth Drivers Analysis

With a median age of 42, Singapore's population is among the oldest in the globe. People are more vulnerable to chronic illnesses like cancer, heart disease, and diabetes as they get older, which can cause accelerated aging. Thus, there is a large demand for anti-aging therapies in Singapore. The regulatory climate in Singapore is ideally suited for the development and marketing of anti-aging therapeutics. The nation's governing bodies are renowned for their effectiveness and openness, which has aided in luring investment and fostering the Singapore anti-aging therapeutics expansion.

Market Restraints

Anti-aging treatments are generally not covered by medical insurance in Singapore, which can further restrict their accessibility for many people. The use of anti-aging treatments raises some ethical questions, especially when stem cells and other biologics are involved. These worries might restrict the use and accessibility of some anti-aging treatments. With numerous businesses seeking market share, Singapore anti-aging therapeutics market is becoming more and more competitive. Due to this, it might be more challenging for new competitors to join the market and for established competitors to hold onto their positions.

Competitive Landscape

Key Players

  • ImmunoScape (SGP)
  • Hummingbird Bioscience (SGP)
  • Gero (SGP)- The company strives to improve its patented AI platform and find treatments for complicated disorders and problems associated with chronic aging.
  • Coformula (SGP)
  • UpperMed (SGP)
  • Shiseido
  • Estée Lauder
  • Lumenis
  • Alma Lasers
  • Cynosure
  • Beiersdorf
  • Solta Medical

Healthcare Policies and Regulatory Landscape

The Health Sciences Authority (HSA) is Singapore's regulatory authority in charge of approving and monitoring anti-aging medications. Drugs, medical equipment, and dietary supplements are all subject to regulation by the HSA, a statutory body that reports to the Ministry of Health. Anti-aging medications are controlled as pharmaceuticals in Singapore and must pass stringent clinical studies and testing before being authorized for use. The HSA examines requests for clinical trials and drug registration, assesses data on safety and effectiveness, and keeps track of the market safety of medications through post-marketing surveillance. To make sure that anti-aging medications adhere to international standards for quality, safety, and efficacy, the HSA also works with foreign regulatory organizations. This makes it easier to develop and get novel drugs approved while continuing to adhere to high safety and efficacy standards.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Anti-Aging Therapeutics Market Segmentation

By Product (Revenue, USD Billion):

  • Anti-Wrinkle
  • Hair Color
  • Ultraviolet (UV) Absorption
  • Anti-Stretch Mark
  • Others

By Treatment (Revenue, USD Billion):

  • Hair Restoration
  • Anti-Pigmentation
  • Adult Acne Therapy
  • Breast Augmentation
  • Liposuction
  • Chemical Peel
  • Others

By Target Group (Revenue, USD Billion):

  • Male
  • Female

By Type of Aging (Revenue, USD Billion):

  • Cellular Aging
  • Immune Aging
  • Metabolic Aging
  • Others

By Type of Molecules (Revenue, USD Billion):

  • Biologics
  • Small Molecules

By Mechanism of Action (Revenue, USD Billion):

  • Senolytic
  • Cell Regeneration
  • mTOR inhibitor/Modulator
  • AMP-kinase/AMP Activator
  • Mitochondria Inhibitor/Modulator
  • Others

By Ingredient (Revenue, USD Billion):

  • Retinoid
  • Hyaluronic Acid
  • Alpha Hydroxy Acid
  • Others

By Distribution Channel (Revenue, USD Billion):

  • Pharmacies
  • Stores
  • Online Stores

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 25 January 2024
Updated by: Ritu Baliya

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