Singapore Acute Lymphocytic Leukemia (ALL) Therapeutics Market Analysis

Singapore Acute Lymphocytic Leukemia (ALL) Therapeutics Market Analysis

The Singapore Acute Lymphocytic Leukemia (ALL) Therapeutics Market is at around US $4 Mn in 2022 and is projected to reach US $8 Mn in 2030, exhibiting a CAGR of 8.4% during the forecast period.

Acute lymphocytic leukemia (ALL) is a type of blood and bone marrow cancer that impacts lymphocytes, crucial white blood cells for the immune system's function. In this disease, rapid growth of immature lymphocytes, termed lymphoblasts, occurs due to a mutation, leading to an accumulation of undifferentiated lymphocytes. Symptoms often involve recurrent infections, breathing difficulties, weight loss, bone pain, and fever, among others. ALL management requires a stringent and prolonged treatment approach encompassing chemotherapy, targeted therapies, CAR-T cell immunotherapy, and, in severe cases, stem cell transplantation. These advancements in treatment significantly bolster the chances of a cure, often achieving notable success rates of 80% in adults and children.

ALL accounts for up to 80% of childhood malignancies in Singapore, wherein every year, 180–200 new cases of leukemia are diagnosed. The market is therefore driven by major factors like the surge in incidence of ALL cases, collaborations and partnerships with international organisations, and increased government funding in the therapeutics industry. However, conditions such as high costs of treatment, strict reimbursement criteria, and others hinder the growth and potential of the market.

Market Dynamics

Market Growth Drivers

Increased cases of ALL: In Singapore, there are 180–200 newly diagnosed leukemia cases annually, and ALL accounts for 80% of these cases. The proportion of ALL has increased from 60% to 80% and is anticipated to increase further in the forecasted period fostering market growth.

International collaborations and partnerships: The Singapore government is actively engaging in reforms to support cost-effective and clinically effective treatment for paediatric and adult ALL patients. It is a part of collaborative efforts between Singapore and Malaysia known as the Malaysia-Singapore Leukemia Study Group, promoting enhanced R&D opportunities for market expansion

Increased government initiatives: Singapore features an exceptional healthcare system that offers universal coverage, ensuring broader access to high-quality ALL treatment. Initiatives such as the National Cancer Control Master Plan prioritize access to innovative cancer treatments, encompassing ALL care.

Market Restraints

Strict reimbursement criteria: Although Singapore's healthcare system provides universal coverage, eligibility criteria may restrict access to certain costly ALL therapies like Kymriah. Patients must meet particular disease criteria and treatment response probabilities to qualify for reimbursement, potentially excluding some individuals who could benefit from these innovative options.

Affordability: Finding a middle ground between embracing innovative, potentially curative treatments such as CAR-T and ensuring affordability for all patients poses a challenge for healthcare policymakers. Vital strategies, like negotiating with pharmaceutical firms for reduced prices, exploring different funding approaches, and broadening insurance coverage, are lacking and restrain growth.

High cost: There are challenges concerning the accessibility and affordability of laboratory tests. Numerous families face difficulties affording the required laboratory studies necessary for optimal risk-oriented therapy, potentially surpassing the financial means of many patients and the limits of their healthcare coverage.

Limited local expertise: Singapore's dependence on imported ALL therapeutics subjects it to global market dynamics and pricing structures. The absence of local manufacturing capacities for vital medications or engaging in partnerships with neighbouring regions drives up the cost of the therapeutic market.

Healthcare Policies and Regulatory Landscape

Singapore's healthcare policy and regulatory framework involve various critical authorities and agencies. The primary entity overseeing healthcare regulations and licensing in Singapore is the Ministry of Health (MOH). The MOH is tasked with devising national health policies, coordinating and advancing medical and healthcare reforms, and overseeing the administration of healthcare services in Singapore.

Acquiring a license for healthcare products in Singapore requires adherence to the regulations established by the MOH. For pharmaceuticals and medical devices, companies must secure registration and marketing authorization from the Health Sciences Authority (HSA), operating as a statutory board under the MOH. This process involves submitting technical and scientific data to validate the product's safety, quality, and effectiveness.

The MOH compares Singapore's healthcare system's performance with global standards and conducts yearly patient experience surveys. Additionally, the MOH introduced the Licensing Experimentation and Adaptation Program, serving as a regulatory "sandbox" to explore and comprehend emerging healthcare innovations. Both the public and private healthcare sectors in the country offer diverse opportunities for companies operating within the healthcare industry.

Competitive Landscape

Key Players

• Abbott
• GlaxoSmithKline
• Lonza
• MSD
• Sanofi-Aventis
• Novartis
• Mundipharma
• ASLAN Pharmaceuticals
• Pfizer
• iNova Pharmaceuticals