By 2030, it is anticipated that the Singapore HIV therapeutics market will reach a value of $xx Mn from $16.51 Mn in 2022, growing at a CAGR of xx% during 2022-2030. The market is primarily dominated by local players such as Invida Group, Tanax Pharmaceuticals, and Aslan Pharmaceuticals. The market is driven by cutting-edge healthcare infrastructure, the prevalence of HIV infections, and treatment for HIV. The HIV therapeutics market in Singapore is segmented by type, product, and geography, end user, and distribution channel.
By 2030, it is anticipated that the Singapore HIV therapeutics market will reach a value of $xx Mn from $16.51 Mn in 2022, growing at a CAGR of xx% during 2022-2030.
The Southeast Asian Island nation of Singapore is located off the southernmost point of the Malay Peninsula. Singapore's adult HIV/AIDS prevalence in 2021 was 0.2%, placing it in 104th globally. According to the most recent WHO data, 18 HIV/AIDS deaths—or 0.08% of all deaths—occurred in Singapore in 2020. Singapore is ranked 145th in the world with an age-adjusted death rate of 0.20 per 100,000 people.
The expected share of GDP for healthcare in Singapore, which includes both public and private spending, is 5.9%, with a potential increase to 9% by 2029. Given the aging population and a trend toward earlier diagnosis of chronic conditions, close monitoring, and follow-up, rising government healthcare spending and local population use of healthcare services are both major contributors to this increase.
Market Growth Drivers
According to the World Health Organization (WHO), Singapore's healthcare system ranks 6th globally and provides the 4th best healthcare infrastructure in the world. Singapore has achieved world-class standards in healthcare. Asia's top healthcare system is available there, and it also serves as the region's healthcare and medical hub. The HIV therapeutics market in Singapore may be driven by this factor for new entrants.
Market Restraints
All locally sold goods and rendered services are subject to a 7% goods and services tax (GST). This may discourage new players from entering Singapore's HIV therapeutics market.
Key Players
In Singapore, the regulatory body responsible for the approval of HIV therapeutics is the Health Sciences Authority (HSA). The HSA is the federal agency in charge of overseeing the use of drugs and medical equipment in the healthcare industry. Drugs are evaluated by the HSA for their quality, safety, and efficacy before being approved for use in Singapore. Additionally, the HSA keeps an eye on the efficacy and safety of medicines that have already been approved and made available to patients, and it has the authority to restrict or withdraw their use if they are discovered to be unsafe or ineffective.
In Singapore, MediShield Life—a required government-run health insurance program—provides reimbursement for HIV therapeutics. Numerous medical procedures are covered by MediShield Life, including the price of HIV medications. The type of drug being used and the individual's plan determine how much coverage is provided.
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 Types (Revenue, USD Billion):
By Distribution Channel (Revenue, USD Billion):
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