Singapore Cardiovascular Diseases Therapeutics Market Report 2022 to 2030

Singapore Cardiovascular Diseases Therapeutics Market Analysis

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Singapore's cardiovascular disease therapeutics market is expected to witness growth from $195 Mn in 2022 to $356 Mn in 2030 with a CAGR of 7.82% for the forecasted year 2022-30. due to the rising prevalence of cardiovascular diseases in Singapore along with the increase in demand for novel therapeutic options for treatment are the major market drivers for the market. The Singapore cardiovascular disease therapeutics market is segmented by disease indication, drug type, route of administration, drug classification, mode of purchase, and by end user. iNova Pharmaceuticals, Eshcol Pharmaceutical, and Zydus are the major players in the Singapore cardiovascular disease therapeutics market.

ID: IN10SGPH033 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Dr. Parul Choudhary

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Singapore Cardiovascular Disease Therapeutics Market Executive Analysis

Singapore's cardiovascular disease therapeutics market is expected to witness growth from $195 Mn in 2022 to $356 Mn in 2030 with a CAGR of 7.82% for the forecasted year 2022-30. According to the WTW 2023 Global Medical Trends Survey, healthcare costs in Singapore are projected to rise by 9.8% in 2023 as global inflation keeps rising and healthcare utilization rises. One of the major causes of the increase in healthcare costs is the rapidly ageing workforce combined with a higher burden of chronic diseases. Overuse of care by covered individuals, as well as overtreatment or overprescribing by medical professionals, are additional significant factors.

Heart disease and stroke account for 21 of the daily fatalities in Singapore. In 2021, deaths from cardiovascular diseases (CVD) made up 32% of the total. This indicates that cardiac disease or strokes account for nearly one out of every three fatalities in Singapore. Therapeutic tasks that are challenging to accomplish with conventional biomaterials can be helped by nanomaterials. Nanomaterials can serve as a carrier, pass through the endothelium of blood vessels, and interfere with the internalization process necessary for the delivery of drugs that have been preloaded. Nanomaterials include NPs, liposomes, and processes for applying nanocoatings. Current treatments for CVD focus on preventing recurrent cardiovascular shocks and reinstating normal blood flow through or around the diseased vasculature.

Treatment with statins results in a decrease in the width following the buildup of atherosclerotic plaques, as well as effects on the exterior elastic membranes and fibrous and dense calcium volumes. To reduce clot formation and platelet aggregation, dual antiplatelet therapy using cyclooxygenase inhibitors like aspirin and P2Y12 inhibitors like clopidogrel is the first-line prescription for CVD prevention. Improvements in these treatments are required, especially in light of the risks associated with taking antiplatelet medications, which have unfavourable side effect profiles and low patient compliance.

Singapore Cardiovascular Disease Therapeutics Market Analysis

Market Dynamics

Market Growth Drivers

The Singapore cardiovascular disease therapeutics market is being driven by the increase in cardiovascular illnesses like hypertension, heart failure, and coronary artery disease. Technology advancement has resulted in the creation of novel therapeutics for cardiovascular diseases, including stem cell therapy and gene therapy. The Singapore government has increased its spending on healthcare, which has facilitated better access to medical care and treatments for cardiovascular diseases.

Market Restraints

Cardiovascular disease treatment can be costly, particularly for those who require continued medical attention. For some people, this might make access to care more difficult. Some patients may experience adverse effects from cardiovascular disease medications, which may restrict their use or result in treatment discontinuation limiting the expansion of Singapore's cardiovascular disease therapeutics market.

Competitive Landscape

Key Players

Wellchem Pharmaceuticals (SGP)
Adjuvanz Technology (SGP)
CCM Pharmaceuticals (SGP)
iNova Pharmaceuticals (SGP)
Eshcol Pharmaceutical (SGP)
Zydus
Pfizer
Lupin
GSK
Glenmark Pharmaceuticals
Capricor Therapeutics
Zensun

Notable Deals

November 2022- The Singapore Heart Foundation and Novartis Singapore's partnership will launch new efforts to improve education on cholesterol management and potential risks that could result in heart attack and stroke complications. The multi-year partnership, targeted at unblocking barriers to better heart health, supports Singapore's Healthier SG strategy to put a sustained emphasis on preventive care in achieving overall healthier living.

Healthcare Policies and Regulatory Landscape

An essential national savings program called Medisave aids Singaporeans in setting aside money for future medical expenses, such as the treatment of cardiovascular diseases. It can be used to cover both inpatient and outpatient medical expenses, such as operations, hospital stays, and prescription drugs. A government health insurance program called Medishield Life offers Singaporeans essential health insurance protection for serious illnesses like cardiovascular diseases. It pays for inpatient stays, outpatient care, and a few costly outpatient procedures. A safety net program called Medifund is available to low-income Singaporeans who are unable to cover their medical expenses, including care for cardiovascular diseases. It offers eligible patients financial aid so they can pay for their medical expenses. A healthcare bundle for Singaporeans 65 and older who were born on or before December 31, 1949, is known as the Pioneer Generation bundle. It includes financial assistance for prescription drugs, hospitalization, and outpatient care for serious ailments like cardiovascular conditions. Singaporeans can receive financial assistance for a number of medical services, including the therapy of cardiovascular diseases, through the Community Health Assist Scheme (CHAS). Patients who qualify can get financial aid for prescription drugs, testing procedures, and doctor visits.

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

Cardiovascular Disease Therapeutics Segmentation

By Disease Indication (Revenue, USD Billion):

Hypertension
Coronary Artery Disease
Hyperlipidaemia
Arrhythmia
Others

By Drug Type (Revenue, USD Billion):

Antihypertensive
Anticoagulants
Antihyperlipidemic
Antiplatelet Drugs
Others

By Route of Administration (Revenue, USD Billion):

Oral
Parenteral
Others

By Drug Classification (Revenue, USD Billion):

Branded Drugs
Generic Drugs

By Mode of Purchase (Revenue, USD Billion):

Prescription-Based Drugs
Over-The-Counter Drugs

By End Users (Revenue, USD Billion):

Hospital Pharmacies
Online Pharmacies
Retail Pharmacies
Others

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.