By 2030, the Singapore Liver Disease Therapeutics market is anticipated to reach a value of $45 Mn from $28 Mn in 2022, growing at a CAGR of 6.3% during 2022-30. Liver Disease Therapeutics in Singapore is dominated by a few domestic pharmaceutical companies such as Gastro-Enterology & Education, Pharmaforte, and AsiaPharm. The Liver Disease Therapeutics market in Singapore is segmented into different types of disease and different therapy types. Some of the major factors affecting the Singapore Liver Disease Therapeutics market are the growing prevalence of liver diseases and unhealthy and dynamic lifestyles.
By 2030, the Singapore Liver Disease Therapeutics market is anticipated to reach a value of $45 Mn from $28 Mn in 2022, growing at a CAGR of 6.3% during 2022-30.
Singapore is a high-income, developing island country off the southern tip of the Malay Peninsula in Southeast Asia. GIHep Singapore was founded in 2006 by combining the National Live Endoscopy Workshop and the GESS Annual Scientific Meeting into a single event with the goal of advancing knowledge and practises in gastroenterology and hepatology. It also serves as a hub for multi-centre collaboration in Singapore and around the region.
In Singapore, all nucleos(t)ide analogues, lamivudine, adefovir, tenofovir, telbivudine, and entecavir are approved treatments for CHB. Pegylated interferon alfa 2a is also approved for CHB. These antiviral medications can control CHB but not achieve a functional cure, which is now defined as hepatitis B virus surface antigen loss. According to the latest WHO data published in 2020 Liver Disease Deaths in Singapore reached 209 or 0.88% of total deaths. The age-adjusted Death Rate is 2.40 per 100,000 population ranks Singapore 180th in the world. Singapore's government spent 6.1% of its GDP on healthcare in 2020.
Market Growth Drivers Analysis
Chronic liver disease patients may also be eligible for specialised care through the National University Hospital's Liver Transplant Programme, which includes diagnostic tests, specialist consultations, and liver transplant services. Chronic hepatitis B is by far the most common condition, and the National Hepatitis B Childhood Immunization Program, which began in 1987, is the mainstay of this. In terms of liver transplantation, Singapore has four liver transplant centres, two in the commercial sector and two in the public sector. There were 261 liver transplants conducted between 2007 and 2016. These aspects could boost the Singapore Liver Disease Therapeutics market.
Market Restraints
While there are a number of hospitals and medical centres in Singapore that provide liver disease treatment, there are only a few hepatologists and gastroenterologists who have specific training in liver illness. This can lead to longer wait periods for appointments with specialists and may limit access to specialised treatments and therapies. Singapore confronts issues such as skilled labour and housing shortages, as well as an ageing population. It is heavily reliant on exports and imports. These factors may deter new entrants into the Singapore Liver Disease Therapeutics market.
Key Players
April 2022: Gilead Sciences and the National Foundation of Digestive Diseases (NFDD) established a new joint endeavour to improve liver health education in Singapore in honour of World Liver Day. More than $1 Mn in grant funding has been set aside as part of the Gilead Asia Pacific ALL4LIVER Grant programme to support projects to improve viral hepatitis education sponsored by community-based organisations across the Asia Pacific, with a focus on chronic hepatitis B. (HBV). NFDD is the sole Singaporean organisation in the first batch of ALL4LIVER Grant awardees.
In Singapore, the regulation and reimbursement of liver therapeutics are overseen by the Health Sciences Authority (HSA) and the Ministry of Health (MOH), respectively. The HSA is responsible for regulating the safety, efficacy, and quality of liver therapeutics before they can be marketed and used in Singapore. The reimbursement process is managed by the Central Provident Fund (CPF) Board, which determines which therapies are eligible for reimbursement and the conditions under which they will be covered.
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 Disease Therapeutics Segmentation
By Treatment Type (Revenue, USD Billion):
By Disease Type (Revenue, USD Billion):
By Distribution Channel (Revenue, USD Billion):
Insights10 will provide you with the reports within 10 key parameters which are:
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)
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.
We value your inquiry and offer free customization with every report to fulfil your exact research needs.
This report addresses
Need more?