Singapore Breast Cancer Therapeutics Market Analysis

Singapore Breast Cancer Therapeutics Market Analysis


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The Singapore breast cancer therapeutics market is growing from $22 Mn in 2022 to $xx Mn in 2030 with a CAGR of xx% for the forecasted year 2022-2030 due to the changing lifestyle choices leading to obesity and rising incidence of breast cancer in Singapore. The market is segmented by therapy, by cancer type, and by distribution channel. Beacons Pharmaceuticals, Bristol-Myers Squibb Co., and Eli Lilly and Co. are the leading companies in the Singapore breast cancer therapeutics market.

ID: IN10SGPH031 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Parul Choudhary

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Singapore Breast Cancer Therapeutics Market Executive Analysis

The Singapore breast cancer therapeutics market size is at around $22 Mn in 2022 and is projected to reach $xx Mn in 2030, exhibiting a CAGR of xx% during the forecast period. The Ministry of Health (MOH) expects to spend $19.29 Bn overall in Financial Year 2022 (FY2022), which is $0.86 Bn or 4.7% more than the total spending for FY2021 as revised. The Ministry of Health Headquarters Programme has been given a budget of $7.52 Bn, which covers funding for new and ongoing healthcare personnel initiatives, training for the healthcare industry, research, premium support for MediShield Life, as well as other grants and financial aid. The Program also funds the Health Sciences Authority to help regulatory and compliance organizations in the health and non-health sectors protect the public's health.

Breast cancer, with an age-standardized incidence rate of 54.9 per 100,000 per year, is the most prevalent malignancy among Singaporean women, accounting for 29.7% of all female malignancies. It has been the most common malignancy among Singaporean women for the past 30 years. Previously, the peak age range was reported to be women in their late 50s, but more recent research has shown that this is no longer the case. Breast cancer affects about 270 people per year in Singapore and results in approximately 1,100 new cases being diagnosed each year. Detecting breast cancer early is the goal of Singapore's national breast cancer screening programme. Mammography screening should be done every two years for women aged 50 to 69, according to the programme.

Breast-conserving surgery, lumpectomies, and mastectomy are among the surgical treatments available in Singapore as the most prevalent method of treatment for breast cancer. After surgery, radiation therapy is used to eliminate any cancer cells that could still be present. It can also be used to reduce a tumour before surgery. Cancer cells are eliminated from the body through chemotherapy, targeted therapy, and hormone therapy.

singapore breast cancer therapeutics market analysis

Market Dynamics

Market Growth Drivers

Increasing rates of female alcohol consumption, hormone replacement therapy (HRT) use, and oral contraceptive pill use all lead to greater levels of oestrogen in the body, which will result in a growth in the Singapore breast cancer therapeutics market over the course of the projection period. The chance of developing the disease also rises with increasing exposure to certain carcinogens and endocrine disruptors, such as working night shifts at work, which is majorly driving the growth of the Singapore breast cancer therapeutics market.

Market Restraints

Lack of access to newer medications and the high cost of some targeted therapies like Trastuzumab and Lapatinib as well as hormonal therapy are some of the main barriers to market expansion in Singapore. Inadequate healthcare infrastructure and reimbursement rules may hinder the growth of the breast cancer treatment market in Singapore.

Competitive Landscape

Key Players

  • Raffles Medical Group (SGP)
  • Sphaera Pharma (SGP)
  • MSD Singapore (SGP)
  • Beacons Pharmaceuticals (SGP)
  • Bristol-Myers Squibb
  • Eli Lilly
  • Halozyme
  • Merck

Healthcare Policies and Regulatory Landscape

Through the MediShield Life and MediSave programmes, the government of Singapore pays for breast cancer treatment. Hospitalization expenses and some outpatient procedures, including breast cancer treatment, are covered by the compulsory health insurance programme MediShield Life. A %age of one's income can be set aside by using MediSave, a national savings programme, for medical expenses, including costs associated with breast cancer. Through the MediFund programme, the government also offers financial support to people with lower incomes. Government hospitals only reimburse for pre-approved treatment plans that include surgery, chemotherapy, and radiation therapy for breast cancer patients. Patients who opt to receive care at private hospitals must pay out of pocket or with private insurance, but they may also be eligible for MediShield Life and MediSave benefits.

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

Breast Cancer Therapeutics Segmentation

By Therapy (Revenue, USD Billion):

  • Radiation Therapy
    • Targeted Therapy
      • Ribociclib
      • Abemaciclib
      • Afinitor
      • Everolimus
      • Trastuzumab
      • Olaparib
      • Ado-Trastuzumab Emtansine
      • Palbociclib
      • Pertuzumab
      • Herceptin
      • Tykerb (Lapatinib)
      • Others
  • Hormonal Therapy
    • Selective Estrogen Receptor Modulators (SERMs)
    • Aromatase Inhibitors
    • Estrogen Receptor Downregulators (ERDs)
  • Chemotherapy
    • Taxanes
    • Anthracyclines
    • Anti-metabolites
    • Alkylating Agents
  • Immunotherapy

By Cancer Type (Revenue, USD Billion):

  • Hormone Receptor
  • HER+

By Distribution Channel (Revenue, USD Billion):

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • Others

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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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.

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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: 23 January 2023
Updated by: Jay Dalwadi

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