Singapore Brain Cancer Therapeutics Market

Singapore Brain Cancer Therapeutics Market Executive Summary

Singapore Brain Cancer Therapeutics Market valued at $3 Mn in 2022, projected to reach $6 Mn by 2030 with a 11.2% CAGR.

The abnormal growth of brain cells serves as an indicator of brain cancer, wherein these cells display characteristics that can be either malignant (cancerous) or benign (non-cancerous). Although the precise cause of brain cancer remains unclear, recognized risk factors encompass exposure to ionizing radiation and a family history of brain tumors. Common symptoms associated with a brain tumor consist of headaches, gradual sensory decline, balance issues, speech impediments, and hearing difficulties. The presentation of these symptoms varies depending on factors like the tumor’s size, location, and growth rate. Treatment strategies for brain cancer are determined by the tumor’s type, location, and size, with frequently employed methods including radiosurgery, chemotherapy, radiotherapy, surgery, and the utilization of carmustine implants.

In Singapore, the prevalence of brain cancer is estimated at around 1,903 cases, with over 500 adults and 40 children undergoing surgical treatment for brain tumors annually in public hospitals. Among the various types of brain tumors, astrocytoma’s and glioblastoma multiforme are reported as the most common in the country. Additionally, meningiomas, typically considered benign, are prevalent as well. These statistics highlight the significant impact of brain tumors on the population's health, necessitating ongoing attention to diagnostic and treatment measures for various types of brain cancers in Singapore.

The Singapore-based biotech company AUM Biosciences has started clinical trials for several oral medications that target breast and colorectal cancers, which are the most common in men. Renowned for inventing cutting-edge therapies, Regenacy Pharmaceuticals is committed to creating ricolinostat, an oral selective histone deacetylase 6 (HDAC6) inhibitor, to treat hereditary, diabetic, and chemotherapy-induced peripheral neuropathies. More than 250 patients with hematologic malignancies have received clinical evaluations of ricolinostat, and the business has a unique portfolio of selective HDAC1,2 inhibitors that may be used to treat hemoglobinopathies and cognitive impairments. Furthermore, Incando Therapeutics, an early-stage pharmaceutical business, is working hard to create light-based treatments specifically designed for difficult malignancies, such as brain cancer.

Market Dynamics

Market Growth Drivers

Patient Awareness and Education: Elevated public awareness regarding the significance of early detection, routine screenings, and the availability of advanced treatments has the potential to stimulate patient interest in seeking effective pharmaceutical solutions.

Clinical Trials and Research Collaborations: Advanced brain cancer treatments are developed through ongoing clinical trials and partnerships between pharmaceutical companies, research institutes, and healthcare providers. AUM Biosciences, a Singapore-based biotech company, exemplifies this trend by initiating clinical trials for oral medications targeting breast and colorectal cancers. This proactive involvement in clinical research advances our understanding of brain cancer and encourages the creation of novel drugs. The search for new medicines through clinical trials is a major growth engine that greatly expands and diversifies the market.

Advancements in Treatment Options: The development of innovative medicines for brain-related disorders and technological advances in the healthcare industry are improving the effectiveness of treatments, which in turn is driving market expansion. The introduction of novel and efficacious treatments frequently results in a surge in the demand for these therapies. As the market expands, it attracts further investment, fostering a cycle of innovation, demand, and growth within the healthcare industry.

Market Restraints

Stringent Regulatory Environment: Strict regulatory requirements and approval processes can pose challenges for pharmaceutical companies in bringing new drugs to market. Regulatory hurdles may slow down the introduction of innovative treatments.

Cost Constraints: The high costs associated with the development and production of advanced brain cancer treatment drugs can impact their accessibility and affordability, potentially limiting market growth.

Health Insurance Limitations: The extent of health insurance coverage for brain cancer treatments may influence patient access to expensive medications. Limited coverage can restrict the market for high-cost drugs.

Healthcare Policies and Regulatory Landscape

The Health Sciences Authority (HSA), the main regulatory authority guaranteeing the safety and quality of health products, is one of the important organizations monitoring Singapore's regulatory environment and healthcare regulations controlling treatment pharmaceuticals. The Ministry of Health (MOH), in partnership with HSA, is essential in establishing standards and policies for healthcare. The Pharmacy Practice Act establishes guidelines for the distribution of drugs and governs both the practice of pharmacy and the sale of therapeutic items. The National Medicines Policy (NMP), which is incorporated into the larger healthcare policy framework, directs the distribution and control of pharmaceuticals. Furthermore, payment rules may be impacted by health insurance coverage, such as the Central Provident Fund (CPF) and different health insurance plans, which may affect patients' access to particular treatment medications.

Competitive Landscape

Key Players

• Merck & Co
• Avatamed
• Amgen
• Roche
• Pfizer
• A*STAR
• AUM Biosciences
• Novartis
• AstraZeneca
• Mirati Therapeutics