Singapore Adult Malignant Glioma Therapeutics Market Analysis

Singapore Adult Malignant Glioma Therapeutics Market Executive Summary

The Singapore Adult Glioma Therapeutics Market is valued at around $3 Mn in 2022 and is projected to reach $5 Mn by 2030, exhibiting a CAGR of 9.5% during the forecast period.

A glioma is a kind of cancer that originates in the glial cells of the central nervous system, which includes the brain and spinal cord. Glial cells protect and sustain nerve cells; they are also the source of gliomas, which are tumours. Gliomas can be benign (non-cancerous) or malignant (cancerous). Macroglioblastoma Multiforme (GBM) is the most common kind of malignant glioma in adults. Gliomas are categorized using the World Health Organization's (WHO) grading system, which runs from grade I (least aggressive) to grade IV (most aggressive). The standard treatment for grade 2 gliomas is maximal resection plus single radiation therapy (RT), and for grade 3/4 malignant gliomas, it is maximal resection + RT + Temozolomide, albeit these regimens are still up for discussion.

With frequent advancements in therapeutic technologies, a considerable percentage of the population in Singapore is still impacted by adult malignant gliomas, which are especially common among older people. It mostly affects adults, with the 50s and 60s seeing the highest frequency. Given that Singapore's population is aging and will double by 2030, there will inevitably be more people in this age range who are vulnerable to gliomas. The aging population, better diagnosis and healthcare infrastructure, and more awareness are some of the factors contributing to the industry's growth, which in turn is fueling demand for treatments and creating new avenues for the glioma therapeutics market to expand.

Top participants in the global market, like Roche, which have well-known drugs like Temozolomide (Temodal), Avastin (Bevacizumab), and Novartis, which offers Glivec (Imatinib) for the treatment of certain forms of gliomas, also function in Signapore Market. Cellagenics, a Singapore-based local biotech firm has invested in research of personalised medication for treatment of Glioma.

Market Dynamics

Market Drivers

Advanced Infrastructure: Singapore's healthcare system operates well. Expert medical personnel and state-of-the-art medical facilities outfit the terrain for efficient glioma diagnosis and treatment. For patients undergoing therapy, this infrastructure acts as a reliable vessel that promotes early diagnosis, prompt action, and maybe safer conditions.

Therapeutic Innovation: Personalized medicine, immunotherapy, and targeted treatments are the next big things in the rapidly developing worldwide glioma therapeutics industry. Capable of driving these surges, Singapore enthusiastically accepts these new therapeutic possibilities. Increased insurance coverage and quicker regulatory approvals act as powerful currents that push these cutting-edge treatments into patient hands.

Increased Awareness: Gliomas and their treatment choices are made more widely known and understood through public awareness initiatives and patient advocacy organizations such as Brain Tumour Society Singapore. More information about dealing with conditions like gliomas is made available to the public through the Internet and media. Healthcare providers promote safer and better treatment options that can help the patient to recover faster.

Market Restraints

Market Size: Compared to healthcare superpowers like the US, Singapore's comparatively tiny population means that there is a smaller market for glioma treatments. This may impede investments in research and development by limiting the income potential for biotech startups and pharmaceutical businesses. Furthermore, even Singapore's strong healthcare system may be burdened by the high expense of treating gliomas, which includes surgery, radiation, and targeted medicines, restricting access for some patients.

Regulatory Hurdles: With patient safety as its priority, the Health Sciences Authority (HSA) upholds a strict regulatory framework for clinical trials and medication approvals. Although this methodical approach protects the public's health, it might prolong the process of developing and approving novel glioma treatments, which could postpone the availability of life-saving innovations.

High Competition: It's difficult to draw in and keep talented researchers and medical experts with glioma treatment expertise. Competition from nations with bigger research budgets and maybe greater pay puts Singapore at a competitive disadvantage, causing a brain drain and impeding the growth of a strong indigenous talent pool.

Healthcare Policies and Regulatory Landscape

Singapore's Central Provident Funds (CPF) contributions and nationalized life insurance are two of the funding sources for the country's healthcare system. In addition to developing integrated, patient-centred techniques for the management of chronic diseases, Singapore is concentrating on value-based care and the exchange of best practices. The regulatory framework for therapeutic products in Singapore is overseen by the Health Sciences Authority (HSA).& New drug applications (NDAs) and generic drug applications (GDAs) are the two types of applications submitted in Singapore for the registration of medicinal products. Licenses to manufacture therapeutic items are awarded to companies that complete regulatory inspections and screening. The HSA oversees clinical trials, and medicinal products in Singapore need to be registered before they may be administered. It is a rigorous but effective system that manages patient safety and timely access to innovative treatments in an equitable manner.

Competitive Landscape

Key Players

• Roche
• Novartis
• Merck & Co.
• Pfizer
• Bristol-Myers Squibb
• Cellagenics
• ASTAR
• Oncoheroes Pharma
• Novogene
• AbbVie