Singapore Cardiovascular Drugs Market Analysis Report 2022 to 2030

Singapore Cardiovascular Drugs Market Analysis

$ 3999

Singapore Cardiovascular Drug Market is at around $0.17 Bn in 2022 and is projected to reach $0.23 Bn in 2030, exhibiting a CAGR of 4.4% during the forecast period. Aging population, rising prevalence of cardiovascular diseases, and increasing healthcare spending are all driving the market. The market is dominated by key players like iNova Pharmaceuticals (SGP), Eshcol Pharmaceutical Group (SGP), Wellchem Pharmaceuticals (SGP), Adjuvanz Technology (SGP), CCM Pharmaceuticals (SGP), Zydus, Pfizer Inc., Lupin, GSK, and Glenmark Pharmaceuticals.

ID: IN10SGPH007 CATEGORY: Pharmaceuticals GEOGRAPHY: Singapore AUTHOR: Aneri Parekh

Buy Now

Singapore Cardiovascular Drug Market Executive Summary

Singapore Cardiovascular Drug Market is at around $0.17 Bn in 2022 and is projected to reach $0.23 Bn in 2030, exhibiting a CAGR of 4.4% during the forecast period.

Heart and blood vessel disorders are collectively referred to as cardiovascular diseases. It doesn't refer to a single illness, but rather a collection of problems that may affect the heart's functionality and the body's ability to pump blood. Heart failure, rheumatic heart disease, aortic disease, peripheral arterial disease, coronary heart disease, and cerebrovascular disease are some of the several types of cardiovascular diseases. Drugs used to treat illnesses include antiarrhythmics, beta-blockers, PCSK9 inhibitors, calcium channel blockers, and ACE inhibitors.

The market for cardiovascular drugs in Singapore is anticipated to expand gradually over the next several years due to several factors like the aging population, an increase in the incidence of cardiovascular illnesses, and growing healthcare costs. Nonetheless, businesses must contend with issues including fierce rivalry, a strict regulatory framework, and pressure to keep healthcare costs under control.

Pharmaceutical companies manage the fields of research, development, production, and distribution. Global pharmaceutical revenue was $138.33 Bn in 2022. Innovations in technology and the development of cost-effective production methods have completely transformed the pharmaceutical sector, attracting significant capital and propelling market expansion.

iNova Pharmaceuticals launched a new state-of-the-art hypertension medication called iNova-BP in Singapore. Because of its increased tolerability and efficacy, healthcare professionals graded this medicine positively.

Singapore cardiovascular drug market

Market Dynamics

Market Growth Drivers:

Aging Population: As the nation's population ages, there is a greater need for healthcare goods and services. People over 65 now make up over one-fifth of the population, an increase of 11.7% from ten years ago.

Robust Economy: Singapore's strong economy and elevated living standards have catalyzed the need for pharmaceuticals inside the nation.

Enhanced Screening and Diagnostics: Usage of therapeutic and preventative drugs has increased due to earlier diagnosis and preventive treatments brought about by advancements in diagnostic techniques and heightened awareness of cardiovascular illnesses.

Market Restraints:

Expensive Novel Drugs: High-tech, very effective heart drugs are frequently expensive, which may prevent certain patients, especially those without adequate insurance, from accessing them.

Dominance of Generic Drugs: Businesses selling branded medications may find it more difficult to make profits due to the large generic drug market, which may discourage them from making investments in the discovery of novel treatments.

Changing Healthcare Priorities: Over time, changes in government policies and healthcare priorities may have an effect on the market for cardiovascular drugs.

Notable Recent Updates

October 2023, a collaboration between iNova and the Centre for Cardiovascular and Metabolic Diseases (CCMD) at the National University of Singapore took place intending to create innovative treatments for cardiovascular ailments

Healthcare Policies and Regulatory Landscape

The statutory board under the Singaporean government's Ministry of Health is called the Health Sciences Authority (HSA). It is a multidisciplinary organization tasked with using knowledge in medicine, pharmacology, and science to safeguard and improve public health and safety. The HSA will evaluate the application technically, including an evaluation of the drug's efficacy, safety, and quality. Up to 180 working days may pass throughout the screening process. Strict quality, safety, and efficacy criteria are implemented by HSA under international norms (ICH). This may result in extensive and time-consuming pre-clinical and clinical trial requirements, especially for new medications.

Competitive Landscape

Key Players:

iNova Pharmaceuticals (SGP)
Eshcol Pharmaceutical Group (SGP)
Wellchem Pharmaceuticals (SGP)
Adjuvanz Technology (SGP)
CCM Pharmaceuticals (SGP)
Zydus
Pfizer Inc.
Lupin
GSK
Glenmark Pharmaceuticals

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 Cardiovascular Drug Market Segmentation

By Drug Type

Cephalosporins
Antihypertensive
Antihyperlipidemic
Anticoagulants
Antiplatelet Drug
Others

By Disease Indication

Hypertension
Hyperlipidemia
Coronary Artery Disease
Arrhythmia
Others

By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online 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.