Singapore Addiction Therapeutics Market Analysis

Singapore Addiction Therapeutics Market Executive Summary

Singapore addiction therapeutics market was valued at $12 Mn in 2022 and is estimated to reach $22 Mn in 2030, exhibiting a CAGR of 7.5% during the forecast period.

Addiction is a chronic medical condition defined by obsessive drug seeking and usage despite negative effects. A variety of scientifically proven pharmacological and psychological interventions are included in addiction therapies, with the aim of supporting patients in quitting drug and alcohol usage and addressing the root causes of their addiction. In 2022, the year saw a 4% increase in drug abuser arrests from 2021, along with alarming patterns of increased cannabis seizures and an increasing number of new cannabis abusers, particularly those under 30, some of whom were trafficking drugs as young as 14. The perception of drugs among young people in Singapore has been impacted by the global legalization of cannabis use. CNB's (Central Narcotics Bureau) increased efforts to educate and create awareness about cannabis and drug misuse among Singapore's youth are necessary since, despite scientific evidence showing the risks of cannabis addiction, an increasing percentage of teenagers have more permissive attitudes about drugs. Another notable trend of the year was a 71% increase in cannabis abuser arrests, most of whom were new users, particularly young people under the age of 20. In all, CNB arrested 2,826 drug abusers in 2022; of these, 13% were repeat offenders and 14% were new offenders, with 50% of them being under 30. With 95% of drug abusers using at least one of these substances, methamphetamine, heroin, and cannabis were the most frequently misused drugs in 2022. In particular, the number of arrests for cannabis abusers increased by 71%, from 138 in 2021 to 236 in 2022, with over 61% of those arrested being under 30 years old.

While buprenorphine is the main drug used in addiction treatment, acamprosate (used to treat alcoholism) and naltrexone (used to treat both alcohol and opioid dependence) are also relevant, though perhaps not as much in the Singaporean market as buprenorphine. Healthcare professionals and patients have come to recognize and trust brands such as Butrans (Reckitt Benckiser), Suboxone (Indivior), and Subutex (Reckitt Benckiser) that have made a strong impression. Of these drugs, Campral (Almirall) is probably the most popular option for acamprosate in Singapore. Revia (Pfizer) establishes itself as the leading brand of naltrexone that is accessible, which strengthens its position in the addiction treatment market in Singapore.

Market Dynamics

Market Growth Drivers

Rising Substance Abuse Cases: The need for addiction treatment may be fueled by a rise in instances that are reported or by public awareness of problems connected to substance abuse. There may be a greater need for treatments and drugs to treat addiction-related problems as knowledge of these concerns increases. The growing number of substance abuse cases drives the expansion of the addiction therapeutic market.

Government Initiatives: The market may increase as a result of government assistance and programs that combat substance misuse and encourage addiction treatment. The demand for medications used in addiction treatment can be fueled by Singapore's initiatives to prevent drug usage through extensive programs, public health campaigns, and easily accessible options for treatment.

Growing Awareness and Acceptance of Treatment: The need for pharmaceutical interventions may rise as more people recognize addiction as a medical illness that can be treated rather than just a behavioural problem. The market for medications used to treat addiction is driven by this change in perspective, which motivates more people to seek treatment.

Market Restraints

Stigma and Perception: Adoption of medications for addiction therapy may be hampered by the stigma attached to mental health problems and addiction. The demand for these drugs and the expansion of the addiction treatment industry may be impacted by social stigma, which may deter people from obtaining the right care.

Limited Public Awareness: The general population may still be unaware of the full range of treatment alternatives available, even in spite of government initiatives to increase public knowledge of addiction and its treatment. The demand for medications and other services for addiction treatment may be impacted by this lack of knowledge, hampering the market's growth.

High Cost of Treatment: High out-of-pocket costs for addiction treatment and limited insurance coverage may provide financial challenges for people seeking therapy or recovery. The market wouldn't be able to expand if consumers were discouraged from adopting these services by these financial obstacles.

Healthcare Policies and Regulatory Landscape

The Health Sciences Authority (HSA) of Singapore is responsible for regulating the market for addiction treatment medications and making sure they are safe, effective, and properly labelled before being made available to the public. Subject to the rigorous drug classifications specified in the Misuse of Drugs Act, drugs are classified according to their therapeutic effectiveness and tendency for abuse. A multifaceted strategy is used in addiction therapy, including counselling, behavioural therapies, and carefully monitored, regulated pharmaceutical interventions to avoid overuse. Public health programs place a strong emphasis on preventative measures and public education campaigns about the dangers of drug misuse, particularly for young people. Tailored programs for assessment, counselling, and therapy are provided by support services, which are overseen by organizations such as the National Addictions Management Service (NAMS).

Competitive Landscape

Key Players

• Indivior
• Alkermes
• Reckitt Benckiser
• Otsuka Pharmaceutical
• Pfizer
• Mallinckrodt
• Purdue Pharma L.P.
• GlaxoSmithKline
• Teva Pharmaceutical
• Novartis AG.