Report Description of the Singapore Oncology Drugs Market
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Research Objective:
- To analyze and forecast the market size of Singapore Oncology Drugs Drugs market
- To classify and forecast Singapore Oncology Drugs Market market based on application, drugs, project type, and application.
- To identify drivers and challenges for Singapore Oncology Drugs market
- To examine competitive developments such as mergers and acquisitions, agreements, collaborations and partnerships, etc., in Singapore Oncology Drugs market
- To conduct pricing analysis for Singapore Oncology Drugs Drugs market
- To identify and analyze the profile of leading players operating in Singapore Oncology Drugs market
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for Atopic Dermatitis drug market
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Atopic Dermatitis market
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy-based consulting analysis
Singapore Oncology Drugs Market Executive Summary
In Singapore cancer cases have been rising over the years, and the number of people living with cancer will continue to increase. During the period from 2014-2018, 74,536 cancer cases were reported in Singapore and 48.5% and 51.5% of those cases were reported in males and females respectively. Thus growing the incedence of cancer cases is likely to drive the growth of the Singapore oncology drugs market.
Market Size and Key Findings
The Singapore Oncology Drugs market size is at around USD xx billion in 2021 and is projected to reach USD xx billion in 2028, exhibiting a CAGR of xx% during the forecast period.
In 2019 cancer accounts for 28.4% of all deaths in Singapore. The number of cancer cases increased nearly 6 times from 12,072 in 1968-1972 to 71,265 in 2013-2017.This meant that an average of 14,253 cancer diagnoses are reported every year, equating to around 39 Singaporeans being diagnosed with cancer every single day.Consequently these factors likely to drive the growth of the Oncology market in Singapore during the forecast period.
Market Dynamics
Market Growth Drivers Analysis
Major factors driving the Singapore oncology drugs market are rising Prevalence of Cancer, growing government Initiatives for cancer awareness, increasing patient assistance programs (PAPs). Furthermore, increase in R&D and the rising prevalence of various types of cancer across the globe.
Market Restraints
High cost of cancer therapies and fluctuation in reimbursement policies are the factors affecting the Singapore oncology drugs market negatively.
Competitive Landscape
Key Players
Key market players in Singapore Oncology Drugs market include Abbvie, Amgen, GlaxoSmithKline, Merck & Co., Novartis, Pfizer, Eli Lilly, Johnson & Johnson, Hoffmann-La Roche Ltd, Sanofi and Others
Products in Pipeline
May 19, 2021 – The Janssen Pharmaceutical Companies of Johnson & Johnsonannounced new data from the fixed-duration cohort of the investigational Phase 2 CAPTIVATE study, showing that 95 percent of patients treated with combined IMBRUVICA® plus venetoclax were alive and progression-free at two years. Deep remissions were seen across all subgroups, including patients with high-risk chronic lymphocytic leukemia (CLL). In addition, long-term data from the RESONATE-2 (PCYC-1115/1116) study will be presented, providing the longest follow-up Phase 3 data for any BTK inhibitor to date. These data reinforce the long-term survival benefits and well-established safety profile of single-agent IMBRUVICA® for patients with CLL.
Notable Recent Deals
July 27, 2021 — Amgen (NASDAQ: AMGN) and Teneobio announced an agreement under which Amgen will acquire Teneobio, a privately held, clinical stage biotechnology company developing a new class of biologics called Human Heavy-Chain Antibodies. Under the terms of the agreement, Amgen will acquire all outstanding shares of Teneobio at closing in exchange for a $900 million upfront cash payment, as well as future contingent milestone payments to Teneobio equity holders potentially worth up to an additional $1.6 billion in cash.
The acquisition will also add TNB-585, a Phase 1 bispecific T cell-engager for the treatment of metastatic castrate-resistant prostate cancer (mCRPC), and several preclinical oncology pipeline assets with the potential for near-term IND filings. TNB-585 complements Amgen’s existing prostate cancer portfolio, which includes acapatamab (formerly AMG 160) and AMG 509, both in Phase 1. Each of these three investigational therapies uses a different approach to treat a highly prevalent disease for which new treatment options are very much needed.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario of Singapore Oncology Drugs Services
The Government has accepted the MediShield Life Council’s recommendations to create a list of clinically proven and cost-effective outpatient cancer drug treatments, allow these cancer drug treatments to be claimable under MediShield Life, and set more granular claim limits to provide better coverage based on the cost of each treatment.
Subsidised patients in the public healthcare institutions currently receive up to 75% subsidy for drugs under the Standard Drug List (SDL) and MAF. Following price negotiations with drug manufacturers to achieve better drug prices and cost-effectiveness, 55 more cancer drugs will be listed under the SDL/MAF, which will increase support for around 150 cancer drug treatments. The new MediShield Life claim limits for cancer drug treatments will be set based on post-subsidy bills.
