The Singapore Neurology Clinical Trials market is projected to grow from $6.28 Mn in 2022 to $10.08 Mn by 2030, registering a CAGR of 6.1% during the forecast period of 2022 - 2030. The market will be driven by investments in clinical research and fostering collaborations between researchers, healthcare professionals, and industry partners. The market is segmented by phase, by study design & by indication. Some of the major players include Novartis International AG, Biogen & Invitrocue Pte Ltd.
The Singapore Neurology Clinical Trials market is projected to grow from $6.28 Mn in 2022 to $10.08 Mn by 2030, registering a CAGR of 6.1% during the forecast period of 2022 - 2030. Singapore has recently emerged as the epicentre of clinical research activity in the Asia-Pacific region. The nation is an obvious location for manufacturers and physicians. It also has one of the most advanced healthcare infrastructure networks in the whole region. Singapore is Asia's third most important market for clinical trials. The national government has been particularly helpful in the development of clinical research initiatives. The Health Sciences Authority (HSA) of Singapore had authorised 146 clinical studies for 2021. In Singapore, 1 in 10 people above the age of 60 suffers from dementia. In Singapore, around 150 new cases of epilepsy are reported each year. Epilepsy may strike at any age, although it is more frequent in children and those over the age of 65.
Clinical trials are essential for the introduction of innovative therapeutics as well as the advancement of evidence-based medicine, which is often recognised as the best medical care offered. Participating in clinical trials allows patients to get cutting-edge treatment while simultaneously contributing to the development of care for future patients. In Singapore, various neurology clinical trials are now underway, including studies for therapies for Alzheimer's disease, Parkinson's disease, multiple sclerosis, and epilepsy. Several facilities such as National Neuroscience Institute, Singapore General Hospital, National University Hospital (NUH) & Tan Tock Seng Hospital are involved and participate in such clinical trials.
Market Growth Drivers
Singapore is drawing more funding in clinical research, especially clinical trials in neurology. Singapore has been extensively promoted as a clinical research centre by the government, and various pharmaceutical corporations have constructed research facilities there. Singapore has various collaborative research networks that bring together clinical researchers, healthcare practitioners, and industrial partners. These networks promote the exchange of information, resources, and expertise, which may speed up the discovery of innovative therapies. Singapore has prioritised the development of precision medicine. Neurology clinical trials are an essential component of precision medicine since they may aid in determining which therapies are most beneficial for diverse patient groups.
Since Singapore has a tiny population, it may be challenging to recruit enough subjects for certain clinical studies, especially those involving uncommon neurological diseases. Because of its high cost of living, Singapore may be an expensive destination for clinical studies. This may be a challenge for smaller businesses and academics that do not have access to large amounts of financing. Although Singapore offers a helpful regulatory environment for clinical research, there are however regulatory barriers that could delay clinical study clearance. Other nations in the area, such as South Korea and Japan, are also substantially investing in clinical research and have positioned themselves as important centres for clinical trials.
In June 2022, Novartis reported fresh results from the Phase 3 ASCLEPIOS I/II trials and the ALITHIOS open-label extension demonstrating that ongoing Kesimpta® (ofatumumab) therapy substantially enhanced the chances of attaining no evidence of disease activity (NEDA-3) vs switching from teriflunomide.
September 2020, Nanyang Technological University, Singapore (NTU Singapore) materials scientists have invented a novel tablet that utilizes the stomach as a drug reservoir and slowly distributes medications to Parkinson's disease patients over time.
1. Report Description of the Singapore Neurology Clinical Trials Market
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Singapore Neurology Clinical Trials Market Executive Summary
2.1 Singapore Neurology Clinical Trials Market –Industry Snapshot & key buying criteria, 2021-2030
2.2 Market Size, Growth Prospects, and Key findings
3. Market Dynamics of Singapore Neurology Clinical Trials Market
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis
4. Singapore Neurology Clinical Trials Market Segmentation
4.1 By Phase
4.1.1 Phase I
4.1.2 Phase II
4.1.3 Phase III
4.1.4 Phase IV
4.2 By Study Design Outlook
4.2.2 Parkinson's Disease (PD)
4.2.3 Huntington's Disease
4.2.5 Traumatic Brain Injury (TBI)
4.2.6 Amyotrophic Lateral Sclerosis (ALS)
4.2.7 Muscle regeneration
4.3 By Indication Outlook
4.3.3 Expanded Access
5. Singapore Neurology Clinical Trials Market Share
5.1 Market Analysis, Insights, and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
7. Key Company Profiles
7.1 Company 1
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives
7.2 Company 2
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives
7.3 Company 3
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives
7.4 Company 4
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives
7.5 Company 5
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives
8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Singapore
8.2 Regulatory Framework in Singapore
8.3 Pricing & Reimbursement Scenario in Singapore Neurology Clinical Trials Market
9. Factors Driving Future Growth
9.1 New Trends and Development Singapore Neurology Clinical Trials Market
9.2 Future Opportunities
10. Strategic Recommendations
By Phase (Revenue, USD Billion):
By Study Design Outlook (Revenue, USD Billion):
By Indication Outlook (Revenue, USD Billion):
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