Singapore Cancer Immunotherapy Market Analysis

Singapore Cancer Immunotherapy Market Analysis


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Singapore's cancer immunotherapy market is expected to grow from $135 Mn in 2022 to $244 Mn in 2030 with a CAGR of 7.7% for the forecasted year 2022-30. The increased demand for personalized medicine for treatment and rising investments in the research and development of immunotherapy in Singapore is responsible for expanding the market. The Singapore cancer immunotherapy market is segmented by type, application, and end user. Invitrocue, Lion TCR, and AstraZeneca are the major players in the Singapore cancer immunotherapy market.

ID: IN10SGPH032 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Dr. Parul Choudhary

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Singapore Cancer Immunotherapy Market Executive Analysis

Singapore's cancer immunotherapy market is expected to grow from $135 Mn in 2022 to $244 Mn in 2030 with a CAGR of 7.7% for the forecasted year 2022-30. The Singapore Health Ministry's budget will set up $1.38 Bn for projects like the Woodlands Health Campus and the Emergency Medicine Building at Singapore General Hospital to continue being developed. A portion of the funding will also go toward ongoing initiatives for clinical service growth, the hiring, training, and retention of healthcare professionals, and healthcare financial assistance programs like MediShield Life and CareShield Life.

In Singapore, there were 80,753 cancer cases recorded between 2016 and 2020, with men and women reporting 49% and 51% of those cases, respectively. The goal of immunotherapy, a sort of cancer treatment, is to strengthen the immune system's capacity to protect the body from disease. To better identify cancer cells as alien cells and eliminate them, the immune cells are stimulated. In two sizable clinical trials, adjuvant immunotherapy for early-stage lung cancer has been investigated. In patients with stage 2 and stage 3A lung cancer who have a PD-L1 score of 1% or more after surgery and adjuvant chemotherapy, atezolizumab, which targets a protein (PD-L1) expressed on tumor cells, has been shown to reduce the risk of cancer recurrence or death by 34%. Recent updates revealed that patients with a high PD-L1 score of 50% or higher had increased overall survival. As a result, Singapore recently approved adjuvant atezolizumab for this group of patients. After surgery, individuals with stage 1B, stage 2, and stage 3A lung cancer have shown better disease-free survival when taking the medication pembrolizumab, which targets the protein PD-1 expressed on immune cells. The trial's long-term survival results are still being collected.

Singapore Cancer Immunotherapy Market Analysis

Market Dynamics

Market Growth Drivers

Immunotherapy is a type of tailored medication that uses the patient's immune system to combat cancer. As the advantages of tailored medicine become more widely known, more patients are turning to immunotherapy as a form of treatment. The government of Singapore has actively promoted the growth of the biotech sector, especially cancer immunotherapy. The government has started a number of projects to encourage business investment and academic-industry partnerships. Cancer patients in Singapore now have access to a wider variety of treatment choices as a result of the approval of three novel immunotherapy medications. This will probably lead to a rise in immunotherapy use and commercial expansion leading to the growth of the Singapore cancer immunotherapy market.

Market Restraints

Not all patients can afford cancer immunotherapy since it might be pricey. Singapore's market growth may be constrained by the high cost of healthcare, particularly in the public healthcare system where access to care is a major issue.  Cancer immunotherapy may not be covered by all insurance policies, which can restrict a patient's access to it. The inadequate insurance coverage may also impede Singapore's cancer immunotherapy market expansion. Cancer immunotherapy is a potential treatment, but it is up against chemotherapy and radiation therapy as well as other cancer therapies. The market expansion in Singapore may be constrained by this rivalry.

Competitive Landscape

Key Players

  • Aslan Pharmaceuticals (SGP)
  • Ayoxxa Biosystems (SGP)
  • Clearbridge BioMedics (SGP)
  • Invitrocue (SGP)
  • Lion TCR (SGP)
  • AstraZeneca
  • Bayer
  • Bristol-Myers Squibb
  • ELI Lilly
  • F Hoffman-La Roche
  • Janssen
  • Merck
  • Novartis

Healthcare Policies and Regulatory Landscape

The Medisave national medical savings program enables people to set aside a %age of their salary to cover medical costs, including cancer treatment. Chemotherapy, radiotherapy, surgery, and immunotherapy can all be covered by Medisave funds for cancer patients. However, there are withdrawal restrictions on Medisave funds that change based on the patient's age and health. All Singaporeans and permanent residents are covered by the government-run MediShield Life program. Hospitalization and some outpatient procedures, including cancer treatment, are covered by the program. However, there are deductibles and co-payments associated with the coverage. In order to guarantee that patients have access to the most efficient and reasonably priced therapies, Singapore's Ministry of Health (MOH) routinely examines the coverage and payment rules for cancer treatment. To give patients more options for treatment, the MOH has recently increased the coverage for cancer therapies, including immunotherapy.

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

Cancer Immunotherapy Segmentation

By Type (Revenue, USD Billion):

  • Monoclonal Antibodies
  • Cancer Vaccines
  • Checkpoint Inhibitors
  • Immunomodulators
  • PD-1/PD-L1
  • CTLA-4

By Application (Revenue, USD Billion):

  • Lung Cancer
  • Breast Cancer
  • Head and Neck Cancer
  • Prostate Cancer
  • Colorectal Cancer
  • Melanoma
  • Others

By End User (Revenue, USD Billion):

  • Hospitals
  • Clinics
  • Ambulatory Surgical Centers (ASCs)
  • Cancer Research Centers

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.

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Invitrocue, Lion TCR, and AstraZeneca are the major players in the Singapore cancer immunotherapy market.

The Singapore cancer immunotherapy market is expected to grow from $135 Mn in 2022 to $244 Mn in 2030 with a CAGR of 7.7% for the forecasted year 2022-2030.

The Singapore cancer immunotherapy market is segmented by type, application, and end user.


This report addresses

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  • Qualitative, acute and result oriented market analysis
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  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
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Last updated on: 25 January 2024
Updated by: Dhruv Joshi

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