Singapore Alopecia Therapeutics (Hair Loss) Market Report 2022 to 2030

Singapore Alopecia (Hair Loss) Therapeutics Market Analysis

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The Singapore Alopecia (Hair Loss) Therapeutics Market was valued at US $10 Mn in 2022, and is predicted to grow at (CAGR) of 8.1% from 2023 to 2030, to US $18 Mn by 2030. The primary factors propelling this industry forward include the notable increase in the prevalence of alopecia (hair loss), demand for effective treatments, and others. The industry is primarily dominated by players such as Sun Pharmaceuticals, Johnson & Johnson, Capillus, Follica Inc., Lexington, and Merck, among others.

ID: IN10SGPH430 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Riddhi Solanki

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Singapore Alopecia Therapeutics Market Analysis: Executive Summary

The Singapore Alopecia Therapeutics Market is at around US $10 Mn in 2022 and is projected to reach US $18 Mn in 2030, exhibiting a CAGR of 8.1% during the forecast period.

Alopecia, characterized by irregular hair loss, affects a considerable number of individuals and manifests in various forms, such as localized or diffuse, temporary or permanent, impacting people across different ages and genders. The condition, resulting from diverse factors like stress, diabetes, inadequate nutrition, smoking, and alcohol consumption, can cause significant distress among patients, influencing their overall quality of life. Common indicators encompass hair loss, thinning hair, and bald patches on the scalp. Treatment options span from the application of topical medications like Minoxidil or corticosteroids directly to the scalp to the use of injections and oral medications with more potent immunosuppressive effects. Light therapy and hair transplantation stand as viable alternatives. Companies like Eli Lilly, are advancing treatments with their JAK inhibitor Baricitinib, and Bayer, contributing to progress with Rogaine (Minoxidil), in addressing this condition.

Approximately 63% of males are estimated to be affected by androgenetic alopecia (AGA), and the overall occurrence of alopecia in Singapore is around 3.8%. The market is being driven by factors such as the growing aging population and rise in alopecia, demand for effective treatment, rising disposable income, and others. However, challenges such as regulatory challenges and limited reimbursement options are a few factors that limit the market's potential.

Market Dynamics

Market Growth Drivers

Rising prevalence of Alopecia: Androgenetic Alopecia (AGA) is the most prevalent form of alopecia in Singapore. It is estimated that the prevalence of AGA is about 63% in males, and the overall incidence of alopecia in Singapore is about 3.8%. With the aging of the Singaporean population, an increase in the occurrence of this type of hair loss is anticipated. Factors like stress, diet, and the environment contribute to hair loss, and as Singaporeans lead busier and more urbanized lifestyles, these elements may exert a more significant influence on hair loss, allowing market growth.

Demand for effective treatments: As awareness of Alopecia and its implications for self-esteem and overall well-being rises, there is an increasing demand for treatments. The progression of technology has made minimally invasive procedures, like hair transplantation, more widely accepted. Consequently, there is a heightened demand for such procedures in Singapore. This surge in demand is prompting investments in the research and development of novel therapies.

Rising disposable income: With the increase in incomes among Singaporeans, there is a greater willingness to invest in cosmetic treatments, including those for hair loss. Singapore boasts a well-established healthcare system characterized by a high standard of medical care, facilitating easier access to treatments for Alopecia.

Market Restraints

Regulatory challenges: Singapore maintains a stringent regulatory framework for pharmaceuticals and medical devices. Securing approval for new alopecia treatments can be a protracted and costly undertaking, serving as a deterrent to innovation and entry into the market.

Limited reimbursement: The healthcare system in Singapore prioritizes cost-effectiveness. Although certain established treatments, such as Minoxidil and Finasteride, receive partial insurance coverage, newer and potentially more efficacious therapies may encounter restricted reimbursement, thereby limiting accessibility for a broader patient demographic.

High healthcare costs: The general expense of healthcare in Singapore is comparatively high, potentially constraining patients' access to costly alopecia treatments.

Healthcare Policies and Regulatory Landscape

Singapore's healthcare policies and regulatory framework involve various crucial authorities and agencies. The primary body overseeing healthcare regulations and licensing is the Ministry of Health (MOH). The MOH is responsible for formulating national health policies, coordinating and advancing medical and healthcare reforms, and overseeing the administration of healthcare services in Singapore.

Obtaining a license for healthcare products in Singapore necessitates adherence to regulations established by the MOH. In the case of pharmaceuticals and medical devices, companies must obtain registration and marketing authorization from the Health Sciences Authority (HSA), which functions as a statutory board under the MOH. This process entails submitting technical and scientific data to substantiate the product's safety, quality, and efficacy.

The MOH regularly assesses Singapore's healthcare system's performance against global standards and conducts annual patient experience surveys.

Competitive Landscape

Key Players

Sun Pharmaceuticals
Merck & Co
Cipla Limited
Johnson & Johnson
Lexington International LLC
Cirrus Hair Centers
Vita-Cos-Med-Klett-Loch
Capillus
Follica Inc
Transitions Hair Pty Ltd

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

Singapore Alopecia Therapeutics Market Segmentation

By Disease Type

Alopecia Areata
Cicatricial Alopecia
Traction Alopecia
Alopecia Totalis
Androgenetic Alopecia
Alopecia Universalis
Others

By Treatment type

Pharmaceuticals
Devices
Others

By Gender

Male
Female

By Route of Administration

Topical
Injectable
Oral

By Age Group

Below 18 years
18-34 years
35-49 years
50 years and above

By End User

Hospitals
Physician’s Office
Dermatology clinics
Others

By Sales Channel

Prescriptions
OTC

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.