Singapore Hypersomnia Therapeutics Market Analysis

Singapore Hypersomnia Therapeutics Market Executive Summary

The Singapore Hypersomnia Therapeutics Market is at around $39.10 Mn in 2023 and is projected to reach $58.79 Mn in 2030, exhibiting a CAGR of 6% during the forecast period.

Hypersomnia is a group of neurological disorders characterized by excessive daytime sleepiness, despite getting enough sleep at night. This can significantly impair daily functioning and reduce quality of life. While the exact causes are still being researched, hypersomnia can be linked to underlying medical conditions, neurological disorders, or disruptions in sleep regulation mechanisms. People with hypersomnia often experience symptoms such as not feeling refreshed upon waking, feeling groggy and slow for extended periods after waking, and an excessive need for sleep despite sleeping for long periods. Chronic headaches, loss of appetite, excessive sweating, and depression have also been reported. Treatment for hypersomnia focuses on managing daytime sleepiness. This can involve adopting healthy lifestyle practices like eating well and exercising regularly. Medications like stimulants can also be prescribed to promote wakefulness. In some cases, cognitive behavioral therapy for insomnia (CBT-I) can help address underlying sleep habits that contribute to hypersomnia.

The prevalence of excessive daytime sleepiness, a key symptom of hypersomnia, is 9% in adults in Singapore. The market therefore is driven by significant factors like the increasing awareness about hypersomnia disorders, an aging demographic, and technological advancements. However, high costs of treatment, limited accessibility to specialized healthcare services, and strict regulatory approval impede market growth.

The leading pharmaceutical companies include Pfizer for the treatment of hypersomnia disorders in Singapore. Teva Pharmaceuticals, Raffle Medical, and Sanofi are also significant contributors to the hypersomnia therapeutics landscape, with continuous research and development activities.

Market Dynamics

Market Growth Drivers

Increasing Awareness about Hypersomnia Disorders: Increased public awareness campaigns and training of health professionals lead to more accurate diagnoses, increasing the potential patient base for these medications. Singapore Sleep Awareness Week (SSAW) is an annual event organized by the Singapore Sleep Society (SSS) to raise public awareness about sleep health and sleep disorders.

Expanding Geriatric Population: Hypersomnia can be more prevalent in older adults, due to changes in sleep architecture and underlying health conditions. The prevalence of hypersomnia disorders is expected to rise as the geriatric population accounts for 15% of the total population, driving demand for effective treatment options tailored to the unique needs of older adults.

Technological Advancements: Continuous technological innovations that improve the efficiency and effectiveness of Idiopathic Hypersomnia Treatment products and services are driving the market. Pharmaceutical companies are currently engaged in research and development to create improved medications for hypersomnia.

Market Restraints

High costs: The financial burden associated with the development and use of hypersomnia drugs is significant. This is particularly problematic in regions with limited healthcare coverage, as high costs restrict access to these therapies for patients, especially for long-term or chronic conditions

Strict Regulatory Approval Process: The approval of new drugs in Singapore involves a complicated procedure. Delayed market entry of more effective medications restricts patient treatment choices and impedes market growth.

Potential Side Effects: Hypersomnia medications, although effective in controlling severe sleepiness, frequently lead to several adverse reactions. Sadly, these reactions can discourage some people from pursuing therapy, or lead them to stop taking the medication before their full potential benefits are realized. As a result, this not only lowers the standard of living for those suffering from sleepiness disorders but also creates an obstacle to the expansion of the pharmaceutical market.

Regulatory Landscape and Reimbursement Scenario

The Health Science Authority (HSA) is responsible for drug approval in Singapore It operates under Ministry of Health. The HSA is responsible for regulating and approving health products, including therapeutic products, medical devices, cell, tissue, and gene therapy products ensuring they meet safety, quality, and efficacy standards.

Pharmaceutical companies submit a New Drug Application (NDA) to HSA. The NDA includes comprehensive data from preclinical and clinical studies, as well as information on the drug's formulation, manufacturing process, and proposed labeling. The HSA conducts a thorough review of the NDA. Following the registration of a product, pharmaceutical companies are obligated to fulfill a range of post-marketing responsibilities, including pharmacovigilance and variations reporting

Singapore has MediShield Life, a universal basic health care insurance that provides lifelong protection against large hospital bills and select outpatient treatments. They also have MediSave, a national medical savings scheme that helps cover out-of-pocket payments.

Competitive Landscape

Key Players

Here are some of the major key players in the Singapore Hypersomnia Therapeutics Market:

• Teva Pharmaceuticals
• Sphaera Pharma
• Jazz Pharmaceuticals
• Pfizer
• ITS Science & Medical
• Merck
• Sanofi
• Raffles Medical
• Fisher and Paykel Healthcare
• GlaxoSmithKline
• Theranexus