Singapore Alcohol Addiction Therapeutics Market Report 2022 to 2030

Singapore Alcohol Addiction Therapeutics Market Analysis

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The Singapore Alcohol Addiction Therapeutics Market is valued at around $0.86 Mn in 2022 and is projected to reach $1.46 Mn by 2030, exhibiting a CAGR of 6.9% during the forecast period. Market drivers in the Singapore Alcohol Addiction Therapeutics Market are influenced by factors like evolving treatments, private sector engagement, and a rising prevalence of alcohol-related issues among young individuals. The key players involved in the research, development, and distribution of Alcohol Addiction Therapeutics in Singapore are Lundbeck, Otsuka Pharmaceuticals, AbbVie, Alkarmes, BioMarin, Pfizer, Mylan, Eli Lilly, AstraZeneca, GlaxoSmithKline (GSK) etc among others

ID: IN10SGPH428 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Netal Patel

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Singapore Alcohol Addiction Therapeutics Market Executive Summary

The Singapore Alcohol Addiction Therapeutics Market is valued at around $0.86 Mn in 2022 and is projected to reach $1.46 Mn by 2030, exhibiting a CAGR of 6.9% during the forecast period.

Alcohol dependence, also known as alcohol use disorder (AUD), is a chronic disease characterized by an inability to control or stop alcohol consumption despite negative effects on health, relationships, and daily functioning. This includes compulsive and harmful drinking, often accompanied by physical and mental dependence on alcohol. Continuous and heavy alcohol consumption can cause liver damage, which can lead to diseases such as fatty liver, alcoholic hepatitis, and cirrhosis. It can also affect the cardiovascular system, increasing the risk of hypertension and heart disease. It can be treated with behavioural therapy, counselling, membership in support organizations such as Alcoholics Anonymous (AA), and the use of medications such as naltrexone and acamprosate to control cravings. In more serious situations, detoxification and rehabilitation programs may be recommended.

In Singapore, the number of people seeking treatment for alcohol addiction has been rising significantly. At some point in their lives, 4.1% of Singaporeans reported having an AUD. The growth of nearby Alcoholics Anonymous meetings in response to the increased need for help in recent years suggests a more serious underlying problem. Market drivers in the Singapore Alcohol Addiction Therapeutics Market are influenced by factors like evolving treatments, private sector engagement, and a rising prevalence of alcohol-related issues among young individuals.

The Singapore Alcohol Addiction Therapeutics Market is currently fragmented, with a mix of public and private providers. Several international players like Lundbeck, Roche, Merck etc. grab a higher share of the drug market due to their brand awareness.

Market Dynamics

Market Drivers

Evolving Treatment Landscape: The landscape of therapy is changing as novel pharmacotherapies and medication-assisted therapies (MAT) are developed. These approaches provide more individualized and efficient care. Treatment results are enhanced by a greater use of evidence-based treatments like motivational interviewing and cognitive-behavioral therapy (CBT). Utilizing digital health resources (such as support groups and treatment applications) improves accessibility and participation in rehabilitation programs.

Increasing Private Sector Involvement: A greater spectrum of patients and financial capacities are served by investments in outpatient clinics and private rehab centers. Working together, the public and private sectors can provide more treatment alternatives and enhance service delivery.

Growing Rate of Prevalence: Young individuals who binge drink, especially in a culture where social pressure is strong, run the risk of developing long-term addictions. Stress levels are rising, and mental health issues aggravating pre-existing drinking issues might lead to a greater need for treatment.

Market Restraints

Cost and Affordability: While private treatment facilities can be pricey, possibly shutting out those with lesser incomes, public treatment programs often have waitlists and few resources. The stigma associated with addiction may discourage people from getting assistance, even if it is affordable.

Lack of Qualified Professionals: Access to high-quality treatment may be hampered by a shortage of psychotherapists and other qualified addiction specialists. The scarcity is made worse by high turnover rates among addiction specialists brought on by burnout and taxing workloads.

Regulations: Tight laws governing medication-assisted therapy (MAT) may prevent MAT from being widely used and accessible. Innovative practices and market entrance may be impeded by intricate licensing processes and administrative demands placed on treatment providers.

Healthcare Policies and Regulatory Landscape

The Health Sciences Authority (HSA) is Singapore's drug regulation body. In Singapore, the HSA is in charge of policing the effectiveness, safety, and quality of medications. It oversees the production and importation of medicines, reviews and approves new medications, and makes sure that regulations are followed. Singapore is a member of the Association of Southeast Asian Nations (ASEAN). To guarantee the efficacy and safety profile of pharmaceutical goods, the HSA also works with foreign regulatory bodies. In addition, it supervises the production and importation of medicines, approves novel medications, and makes sure that regulations are followed. Depending on the drug's complexity and the efficacy of the applicant's evidence, the approval period may change.

Competitive Landscape

Key Players

Lundbeck
Otsuka Pharmaceuticals
AbbVie
Alkarmes
BioMarin
Pfizer
Mylan
Eli Lilly
AstraZeneca
GlaxoSmithKline (GSK)

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.