Singapore Liver Cancer Therapeutics Market Analysis

Singapore Liver Cancer Therapeutics Market Analysis


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By 2030, it is anticipated that the Singapore Liver Cancer Therapeutics market will reach a value of $13.4 Mn from $3.52 Mn in 2022, growing at a CAGR of 18.2 % during 2022-2030. The Liver Cancer Therapeutics in Singapore is dominated by a few domestic pharmaceutical companies such as Clearbridge BioMedics, A*STAR and ASLAN Pharmaceuticals. The Liver Cancer Therapeutics market in Singapore is segmented into different types of cancer and different therapy type. Some of the major factors affecting the Singapore Liver Cancer Therapeutics market are the growing prevalence of liver cancer and the high cost and side effects related to certain liver cancer therapies.

ID: IN10SGPH039 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Dr. Vishwa Modhia

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Singapore Liver Cancer Therapeutics Analysis Summary

By 2030, it is anticipated that the Singapore Liver Cancer Therapeutics market will reach a value of $13.4 Mn from $3.52 Mn in 2022, growing at a CAGR of 18.2 % during 2022-2030.

Singapore is a high-income, developing island country off the southern tip of the Malay Peninsula in Southeast Asia. According to WHO, the predicted number of new liver cancer cases in Singapore in 2020 attributed to alcohol consumption was 33% of all cancers. According to the most recent WHO data, 746 people died from liver cancer in Singapore in 2020, accounting for 3.14 % of all deaths. Singapore ranks 46th in the world in terms of age-adjusted death rate (8.32 per 100,000 population). After breast, colorectal, and lung cancer, liver cancer is the fourth most frequent cancer in Singapore. In Singapore, there were 1,056 new cases of liver cancer in 2019.

Surgery, chemotherapy, and radiation therapy are all possibilities for treating liver cancer in Singapore. Immunotherapies and targeted medicines are also becoming more widely available. Singapore's government spent 6.1 % of its GDP on healthcare in 2020. Local pharmaceutical companies in Singapore, such as ASLAN Pharmaceuticals and ImmuneMed, are developing and testing new liver cancer drugs. International pharmaceutical companies, such as Bayer and Bristol Myers Squibb, also operate in the Singapore market.

Singapore Liver Cancer Therapeutics Analysis

Market Dynamics

Market Growth Drivers Analysis

The incidence of liver cancer in Singapore has increased over the last few decades, with men aged 50 and older having the highest incidence rates. Precision medicine, or tailoring treatments to individual patients based on genetic makeup and other characteristics, is becoming increasingly significant in the treatment of liver cancer. This is increasing demand for new medications and diagnostic tests that can assist in determining the most effective therapies for particular patients. Singapore's advantageous location as a pharmaceutical and biotech hub has attracted major investment in the treatment sector. These aspects could boost the Singapore Liver Cancer Therapeutics market.

Market Restraints

While Singapore's pharmaceutical regulatory environment is usually regarded as favourable to innovation, the country's Health Sciences Authority (HSA) maintains stringent conditions for the clearance of new products. In Singapore, the five-year survival rate for liver cancer is roughly 20%. This is due in part to the fact that liver cancer is frequently not detected until it is advanced. Singapore faces challenges such as a shortage of trained labour and housing, as well as an ageing population. It relies largely on exports and imports. These factors may deter new entrants into the Singapore Liver Cancer Therapeutics market.

Competitive Landscape

Key Players

  • ASLAN Pharmaceuticals: ASLAN Pharmaceuticals is a clinical-stage biopharmaceutical company that is developing a pipeline of oncology therapeutics, including a candidate for the treatment of liver cancer
  • A*STAR's Experimental Therapeutics Centre (ETC): ETC is a Singapore-based research centre that is focused on the discovery and development of new therapeutics for a range of diseases, including cancer
  • Clearbridge BioMedics: Clearbridge BioMedics is a Singapore-based company that develops and commercializes medical devices for cancer diagnosis and treatment. The company's flagship product, the ClearCell FX System, is a label-free liquid biopsy platform that enables the isolation and analysis of circulating tumour cells from patient blood samples
  • Duke-NUS Medical School: Duke-NUS Medical School is a Singapore-based medical school that conducts research in a range of areas, including cancer biology and therapeutics

Recent Notable updates

March 2023: Cancer Research Horizons, the innovation engine at the heart of Cancer Research UK, and the Experimental Drug Development Centre (EDDC), Singapore's national platform for drug discovery and development hosted by the Agency for Science, Technology, and Research (A*STAR), announced a 5-year collaboration. Under the terms of the Memorandum of Understanding, both parties will investigate collaborations to advance their mutual goals of expediting the translation of cancer research into better treatments for cancer patients.

Healthcare Policies and Reimbursement Scenarios

In Singapore, the regulation and reimbursement of liver cancer therapeutics are governed by the Health Sciences Authority (HSA) and the Ministry of Health (MOH), respectively. In Singapore, the MOH manages the country's healthcare system and is responsible for determining which healthcare services and treatments are covered by the public healthcare system.

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

Liver Cancer Therapeutics Segmentation

By Type (Revenue, USD Billion):

  • Hepatocellular Carcinoma
  • Cholangio Carcinoma
  • Hepatoblastoma
  • Other Types

By Treatment (Revenue, USD Billion):

  • Chemotherapy
  • Immunotherapy
  • Targeted Therapy
  • Radiation Therapy
  • Ablation Therapy
  • Embolization Therapy

By Equipment (Revenue, USD Billion):

  • Computed Radiography
  • MRI
  • Sonography
  • Others

By Route of Administration (Revenue, USD Billion):

  • Oral
  • Intravenous

By End User (Revenue, USD Billion):

  • Hospitals
  • Clinics
  • Ambulatory Surgical 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”.

 

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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.

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

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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: 20 March 2023
Updated by: Dhruv Joshi

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