Singapore Atherosclerosis Therapeutics Market Analysis

Singapore Atherosclerosis Therapeutics Market Analysis


$ 3999

Singapore Atherosclerosis Therapeutics Market was valued at $3 Mn in 2022 and is estimated to reach $5 Mn in 2030, exhibiting a CAGR of 6.3% during the forecast period. The increasing number of cardiovascular disease cases, which are exacerbated by poor dietary habits, sedentary lifestyles, and an aging global population, is predicted to drive up demand for atherosclerosis treatments. The top leading pharmaceutical companies presently operating in the industry are Pfizer, Novartis, AstraZeneca, Sanofi, Bayer, Abbott Laboratories, Eli Lilly, Eisai, Takeda and Mitsubishi Tanabe Pharma Corporation.

ID: IN10SGPH434 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Medha Sansanwal

Buy Now

Singapore Atherosclerosis Therapeutics Market Executive Summary

Singapore Atherosclerosis Therapeutics Market was valued at $3 Mn in 2022 and is estimated to reach $5 Mn in 2030, exhibiting a CAGR of 6.3% during the forecast period.

Plaque, a sticky substance made of calcium, fat, cholesterol, and other ingredients, builds up inside the artery walls as a result of atherosclerosis. Because of this accumulation, there is a higher chance of developing severe conditions, including heart attacks and strokes, which constrict or clog blood vessels. Atherosclerosis can be caused by a variety of factors, such as high blood pressure, high cholesterol, diabetes, obesity, smoking, a family history of heart disease, inactivity, and an unhealthful diet. Several drugs, such as beta-blockers, aspirin, and statins, have shown potential for preventing or reducing the advancement of atherosclerosis.

There are alarming tendencies in Singapore's cardiovascular epidemiology environment. The acute myocardial infarction (AMI) age-standardized incidence rate (ASIR) increased significantly from 194.5 to 228.9 per 100,000 people. Unfortunately, cardiovascular disorders, which include heart disease and stroke, account for 23 deaths per day and 31.4% of all deaths in 2022. According to carotid ultrasonography studies, the prevalence of carotid plaques is 36% in women and 54% in men between the ages of 45 and 74. The comparatively high prevalence rates of risk factors connected to atherosclerosis in Singapore are a contributing factor to this scenario. Notable figures show that 21.5% of adults have hypertension, 14% of the population has hyperlipidemia, 12.2% of people have diabetes, 13.2% of adults have obesity, and those with a BMI of 30 or higher are smokers, and 12.1% of individuals who are 18 years of age or older smoke. Together, these increased risk factors highlight the significant prevalence of atherosclerosis in the general population and highlight the urgent need for all-encompassing treatment and preventive measures.

Early-stage studies in the field of atherosclerosis research are exploring gene editing tools like CRISPR-Cas9. The goal is to perhaps identify and alter underlying genetic variables that support the progression of atherosclerosis. By targeting the underlying genetic causes of the illness, this novel method has the potential to pave the path for future treatment efforts that are more focused and successful.

Singapore Atherosclerosis Therapeutics Market Analysis 2022 to 2030

Market Dynamics

Market Growth Drivers

Evolving Treatment Landscape: Innovative pharmacological medicines have changed the dynamic landscape of atherosclerosis treatment by offering an alternative to traditional statins. This has expanded market potential and improved the range of treatments accessible. Prominent instances comprise PCSK9 inhibitors, which outperform statins in efficiently lowering LDL cholesterol levels, CETP inhibitors that raise HDL cholesterol levels, a crucial component in the management of atherosclerosis; and anti-inflammatory drugs that address inflammation, a key driver in the advancement of atherosclerosis. This industry is also growing because personalized medicine approaches are becoming more widely accepted and allow for customized therapies based on the unique traits and genetic backgrounds of each patient. This pattern improves the efficacy and efficiency of treatment options, supporting the potential market for medications used to treat atherosclerosis in Singapore as a whole.

Aging Population:Singapore is experiencing rapid population aging, with the percentage of people over 60 projected to reach 15% by 2030. This demographic shift amplifies the demand for atherosclerosis treatment drugs, as the elderly population is inherently at a heightened risk of developing atherosclerosis and related complications, thereby acting as a significant market growth driver in Singapore.

Advancements in Drug Development: To address the needs of a growing patient base and a variety of demands, pharmaceutical companies' persistent efforts to develop novel atherosclerosis drugs tailored to various pathways and patient needs are expected to accelerate market expansion in Singapore.

Market Restraints

Affordability and Access: A significant portion of the population, especially those with lower incomes, may find it difficult to obtain newly developed treatments like PCSK9 inhibitors and CETP inhibitors due to their exorbitant costs. The high cost of innovative medicines poses a financial barrier, which in turn restrains the market for atherosclerosis therapy drugs in Singapore. The pricing dynamics create challenges for individuals, particularly those with limited financial resources, restricting their access to these advanced medications. Incomplete insurance coverage for some expensive medications further exacerbates the affordability issue and limits the market's potential expansion, even in Singapore, a country with a strong healthcare system.

Healthcare infrastructure limitations: Inequitable access to medical care, especially in remote locations, may make it more difficult to identify and treat atherosclerosis promptly. Delays may arise from a lack of knowledge about risk factors and budgetary limitations brought on by insufficient insurance coverage for long-term illnesses like atherosclerosis. These issues with Singapore's healthcare system have an impact on patient knowledge, accessibility, and financial support. As a result, they hinder the efficient management of atherosclerosis and limit the market for atherosclerosis therapy medications in the nation.

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.

Healthcare Policies and Regulatory Landscape

The Health Sciences Authority (HSA) in Singapore is principally responsible for regulatory control of therapeutic medications and healthcare regulations. The HSA is a statutory board under the Ministry of Health and serves as the national regulatory agency for health products, including pharmaceuticals. Through stringent evaluation procedures, such as pre-market approvals, post-market surveillance, and quality control measures, it plays a crucial role in guaranteeing the safety, efficacy, and quality of treatment pharmaceuticals. In addition, Singapore's Ministry of Health (MOH) develops healthcare policies and offers the general framework for the healthcare system, which includes directives for the distribution, affordability, and accessibility of drugs. To guarantee the highest standards of patient safety and public health, the HSA and MOH work together to maintain a strong regulatory and policy framework that controls the development, approval, and distribution of treatment medications in Singapore.

Competitive Landscape

Key Players

  • Pfizer
  • Novartis
  • AstraZeneca
  • Sanofi
  • Bayer
  • Abbott Laboratories
  • Eli Lilly
  • Eisai
  • Takeda
  • Mitsubishi Tanabe Pharma Corporation

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

Singapore Atherosclerosis Therapeutics Market Segmentation

By Therapy

  • Atherosclerosis Medications
  • Cholesterol-lowering Medications
  • Antiplatelet drugs and Anticoagulants
  • Atherosclerosis Beta Blockers
  • Diuretics or Water Pills
  • Angiotensin Converting Enzyme (Ace) Inhibitors
  • Other Atherosclerosis Treatment Therapies

By Surgery

  • Bypass Surgery (Coronary Artery Bypass Grafting (CABG))
  • Angioplasty
  • Atherectomy

By Drug Class

  • Cholinesterase Inhibitors
  • NMDA Receptor Antagonists
  • Manufactured Combination

By End-Users

  • Hospitals
  • Specialty Clinics
  • Homecare
  • Others

By Distribution Channel

  • Hospital pharmacies
  • Clinics
  • Drug stores
  • Retail pharmacies
  • Online pharmacies
  • Other distribution channel

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”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

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.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

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
  • ​Analyzing current needs and determining penetration to estimate the market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.

Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

To request a free sample copy of this report, please complete the form below.


We value your inquiry and offer free customization with every report to fulfil your exact research needs.


This report addresses

  • Intelligent insights to take informed business decisions
  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
  • Comprehensive Market Research Report in PDF and PPT formats

Need more?

  • Ask our analyst how this study was put together to learn more
  • Discuss additional requirements as part of the free customisation
  • Add more countries or regions to the scope 
  • Get answers to specific business questions 
  • Develop the business case to launch the product
  • Find out how this report may influence your business revenue
Last updated on: 07 March 2024
Updated by: Riya Doshi

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up