Singapore's cancer immunotherapy market is expected to grow from $135 Mn in 2022 to $244 Mn in 2030 with a CAGR of 7.7% for the forecasted year 2022-30. The increased demand for personalized medicine for treatment and rising investments in the research and development of immunotherapy in Singapore is responsible for expanding the market. The Singapore cancer immunotherapy market is segmented by type, application, and end user. Invitrocue, Lion TCR, and AstraZeneca are the major players in the Singapore cancer immunotherapy market.
Singapore's cancer immunotherapy market is expected to grow from $135 Mn in 2022 to $244 Mn in 2030 with a CAGR of 7.7% for the forecasted year 2022-30. The Singapore Health Ministry's budget will set up $1.38 Bn for projects like the Woodlands Health Campus and the Emergency Medicine Building at Singapore General Hospital to continue being developed. A portion of the funding will also go toward ongoing initiatives for clinical service growth, the hiring, training, and retention of healthcare professionals, and healthcare financial assistance programs like MediShield Life and CareShield Life.
In Singapore, there were 80,753 cancer cases recorded between 2016 and 2020, with men and women reporting 49% and 51% of those cases, respectively. The goal of immunotherapy, a sort of cancer treatment, is to strengthen the immune system's capacity to protect the body from disease. To better identify cancer cells as alien cells and eliminate them, the immune cells are stimulated. In two sizable clinical trials, adjuvant immunotherapy for early-stage lung cancer has been investigated. In patients with stage 2 and stage 3A lung cancer who have a PD-L1 score of 1% or more after surgery and adjuvant chemotherapy, atezolizumab, which targets a protein (PD-L1) expressed on tumor cells, has been shown to reduce the risk of cancer recurrence or death by 34%. Recent updates revealed that patients with a high PD-L1 score of 50% or higher had increased overall survival. As a result, Singapore recently approved adjuvant atezolizumab for this group of patients. After surgery, individuals with stage 1B, stage 2, and stage 3A lung cancer have shown better disease-free survival when taking the medication pembrolizumab, which targets the protein PD-1 expressed on immune cells. The trial's long-term survival results are still being collected.
Market Growth Drivers
Immunotherapy is a type of tailored medication that uses the patient's immune system to combat cancer. As the advantages of tailored medicine become more widely known, more patients are turning to immunotherapy as a form of treatment. The government of Singapore has actively promoted the growth of the biotech sector, especially cancer immunotherapy. The government has started a number of projects to encourage business investment and academic-industry partnerships. Cancer patients in Singapore now have access to a wider variety of treatment choices as a result of the approval of three novel immunotherapy medications. This will probably lead to a rise in immunotherapy use and commercial expansion leading to the growth of the Singapore cancer immunotherapy market.
Market Restraints
Not all patients can afford cancer immunotherapy since it might be pricey. Singapore's market growth may be constrained by the high cost of healthcare, particularly in the public healthcare system where access to care is a major issue. Cancer immunotherapy may not be covered by all insurance policies, which can restrict a patient's access to it. The inadequate insurance coverage may also impede Singapore's cancer immunotherapy market expansion. Cancer immunotherapy is a potential treatment, but it is up against chemotherapy and radiation therapy as well as other cancer therapies. The market expansion in Singapore may be constrained by this rivalry.
Key Players
The Medisave national medical savings program enables people to set aside a %age of their salary to cover medical costs, including cancer treatment. Chemotherapy, radiotherapy, surgery, and immunotherapy can all be covered by Medisave funds for cancer patients. However, there are withdrawal restrictions on Medisave funds that change based on the patient's age and health. All Singaporeans and permanent residents are covered by the government-run MediShield Life program. Hospitalization and some outpatient procedures, including cancer treatment, are covered by the program. However, there are deductibles and co-payments associated with the coverage. In order to guarantee that patients have access to the most efficient and reasonably priced therapies, Singapore's Ministry of Health (MOH) routinely examines the coverage and payment rules for cancer treatment. To give patients more options for treatment, the MOH has recently increased the coverage for cancer therapies, including immunotherapy.
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
By Type (Revenue, USD Billion):
By Application (Revenue, USD Billion):
By End User (Revenue, USD Billion):
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:
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:
2. Primary Research
To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:
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:
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.
We value your inquiry and offer free customization with every report to fulfil your exact research needs.
Invitrocue, Lion TCR, and AstraZeneca are the major players in the Singapore cancer immunotherapy market.
The Singapore cancer immunotherapy market is expected to grow from $135 Mn in 2022 to $244 Mn in 2030 with a CAGR of 7.7% for the forecasted year 2022-2030.
The Singapore cancer immunotherapy market is segmented by type, application, and end user.