Singapore Dermatological Therapeutics Market Analysis

Singapore Dermatological Therapeutics Market Analysis


$ 3999

Singapore Dermatological Therapeutics Market is at around $0.05 Bn in 2023 and is projected to reach $0.09 Bn in 2030, exhibiting a CAGR of 9.2% during the forecast period. The market is expanding as a result of the prevalence of skin conditions, rising awareness, and consumer preferences for aesthetic procedures. The market is dominated by key players like Almirall SA, Pfizer Inc., GlaxoSmithKline Plc, AbbVie Inc., Amgen Inc., Novartis AG, Roche, Sanofi, Bayer, and Johnson & Johnson.

ID: IN10SGPH035 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Aneri Parekh

Buy Now

Singapore Dermatological Therapeutics Market Executive Summary

Singapore Dermatological Therapeutics Market is at around $0.05 Bn in 2023 and is projected to reach $0.09 Bn in 2030, exhibiting a CAGR of 9.2% during the forecast period.

Singapore Dermatological Therapeutics explores advanced and comprehensive dermatological techniques in the context of Singapore's evolving healthcare system. This includes using state-of-the-art therapy approaches, creative therapies, and technological integration to treat a variety of skin diseases. The area highlights Singapore's dedication to providing high-quality dermatological treatment, placing a strong emphasis on patient-centered solutions, and leading the way in worldwide advances in skin therapies.

Due to growing awareness of skin health and aesthetic issues, the Singapore Dermatological Therapeutics Market is expanding steadily. The need for dermatological treatments is further fueled by an aging population and an increase in the prevalence of skin disorders. Prominent industry participants prioritize innovation and tactical partnerships to augment their product portfolios and sustain a competitive advantage.

By 2023, the global market for dermatological treatments brought in $40.94 Bn, a significant rise from the year before. Modern production techniques and low-cost technology are driving this revolution in the industry. The market for dermatological treatments has become a thriving and expanding industry due to the dynamic combination of accessibility, innovation, and financial aid.

Pfizer is a major player in Singapore's dermatological therapeutics market, specializing mostly in treating atopic dermatitis, a chronic inflammatory skin disease. Pfizer released favorable top-line results from the JADE COMPARE trial in August 2023, demonstrating notable improvements in individuals with moderate-to-severe atopic dermatitis in terms of skin clearance, disease extent and severity, and itching.

Singapore dermatological therapeutics market

Market Dynamics

Market Growth Drivers:

Prevalence of Skin Conditions: The need for dermatological therapies is driven by the prevalence of dermatological conditions in the country. Several factors, including alterations in lifestyle and pollution, are raising the incidence of skin conditions.

Increasing Awareness: The availability of cutting-edge dermatological therapies and rising consumer knowledge of skincare issues are supporting the market expansion. In this context, information sharing, educational initiatives, and awareness campaigns can be quite helpful.

Customer Preferences for Aesthetic Procedures: The demand for dermatological treatments is fuelled by the expanding trend of aesthetic operations for cosmetic purposes.

Market Restraints:

Cost of Treatment: The adoption of dermatological treatments is dependent upon affordability. Certain populations may not be able to get therapies if they are too expensive.

Competitive Market: Intense competition among pharmaceutical companies could lead to lower profit margins and pressure on prices, which would hinder the expansion of the dermatological treatments industry.

Global Economic Factors: Consumer spending on healthcare may be impacted by economic downturns or uncertainty, which could have an impact on the market for dermatological therapies.

Healthcare Policies and Regulatory Landscape

The Health Sciences Authority (HSA) is the name of the statutory board under the Ministry of Health in Singapore. It is a multidisciplinary organization whose job it is to protect and enhance public health and safety by applying knowledge in medicine, pharmacy, and science. The drug's quality, safety, and efficacy will all be assessed as part of the technical review of the application by the HSA. The screening procedure may take up to 180 working days. The HSA adheres to strict quality, safety, and efficacy standards in compliance with international standards (ICH). This could lead to rigorous and time-consuming criteria for pre-clinical and clinical trials, particularly for novel drugs.

Competitive Landscape

Key Players:

  • Almirall SA
  • Pfizer Inc.
  • GlaxoSmithKline Plc.
  • AbbVie Inc.
  • Amgen Inc.
  • Novartis AG
  • Roche
  • Sanofi
  • Bayer
  • Johnson & Johnson

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 Dermatological Therapeutics Market Segmentation

By Type

  • Prescription-based Drugs
  • Over-the-counter Drugs

By Disease

  • Alopecia
  • Herpes
  • Psoriasis
  • Rosacea
  • Skin Cancer
  • Acne
  • Atopic Dermatitis
  • Vitiligo
  • Hidradenitis
  • Other Applications

By Drug Class

  • Anti-infectives
  • Corticosteroids
  • Anti-acne
  • Calcineurin Inhibitors
  • Retinoids
  • Other Drug Classes

By Route of Administration

  • Topical Administration
  • Oral Administration
  • Parenteral Administration

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: 23 May 2024
Updated by: Jay Dalwadi

Related reports (by category)


Related reports (by geography)


subscribe to our newsletter
up