Singapore Neurology Clinical Trials Market Report 2022 to 2030

Singapore Neurology Clinical Trials Market Analysis

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The Singapore Neurology Clinical Trials market is projected to grow from $6.28 Mn in 2022 to $10.08 Mn by 2030, registering a CAGR of 6.1% during the forecast period of 2022 - 2030. The market will be driven by investments in clinical research and fostering collaborations between researchers, healthcare professionals, and industry partners. The market is segmented by phase, by study design & by indication. Some of the major players include Novartis International AG, Biogen & Invitrocue Pte Ltd.

ID: IN10SGCT005 CATEGORY: Clinical Trials GEOGRAPHY: Singapore AUTHOR: Vidhi Upadhyay

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Singapore Neurology Clinical Trials Market Executive Summary

The Singapore Neurology Clinical Trials market is projected to grow from $6.28 Mn in 2022 to $10.08 Mn by 2030, registering a CAGR of 6.1% during the forecast period of 2022 - 2030. Singapore has recently emerged as the epicentre of clinical research activity in the Asia-Pacific region. The nation is an obvious location for manufacturers and physicians. It also has one of the most advanced healthcare infrastructure networks in the whole region. Singapore is Asia's third most important market for clinical trials. The national government has been particularly helpful in the development of clinical research initiatives. The Health Sciences Authority (HSA) of Singapore had authorised 146 clinical studies for 2021. In Singapore, 1 in 10 people above the age of 60 suffers from dementia. In Singapore, around 150 new cases of epilepsy are reported each year. Epilepsy may strike at any age, although it is more frequent in children and those over the age of 65.

Clinical trials are essential for the introduction of innovative therapeutics as well as the advancement of evidence-based medicine, which is often recognised as the best medical care offered. Participating in clinical trials allows patients to get cutting-edge treatment while simultaneously contributing to the development of care for future patients. In Singapore, various neurology clinical trials are now underway, including studies for therapies for Alzheimer's disease, Parkinson's disease, multiple sclerosis, and epilepsy. Several facilities such as National Neuroscience Institute, Singapore General Hospital, National University Hospital (NUH) & Tan Tock Seng Hospital are involved and participate in such clinical trials.

Singapore Neurology Clinical Trials Market

Market Dynamics

Market Growth Drivers

Singapore is drawing more funding in clinical research, especially clinical trials in neurology. Singapore has been extensively promoted as a clinical research centre by the government, and various pharmaceutical corporations have constructed research facilities there. Singapore has various collaborative research networks that bring together clinical researchers, healthcare practitioners, and industrial partners. These networks promote the exchange of information, resources, and expertise, which may speed up the discovery of innovative therapies. Singapore has prioritised the development of precision medicine. Neurology clinical trials are an essential component of precision medicine since they may aid in determining which therapies are most beneficial for diverse patient groups.

Market Restraints

Since Singapore has a tiny population, it may be challenging to recruit enough subjects for certain clinical studies, especially those involving uncommon neurological diseases. Because of its high cost of living, Singapore may be an expensive destination for clinical studies. This may be a challenge for smaller businesses and academics that do not have access to large amounts of financing. Although Singapore offers a helpful regulatory environment for clinical research, there are however regulatory barriers that could delay clinical study clearance. Other nations in the area, such as South Korea and Japan, are also substantially investing in clinical research and have positioned themselves as important centres for clinical trials.

Competitive Landscape

Key Players

Novartis International AG
Biogen
National Neuroscience Institute
Duke-NUS Medical School
Eisai Asia Pacific
ASLAN Pharmaceuticals (SGP)
Invitrocue Pte Ltd (SGP)

Notable Insights

In June 2022, Novartis reported fresh results from the Phase 3 ASCLEPIOS I/II trials and the ALITHIOS open-label extension demonstrating that ongoing Kesimpta® (ofatumumab) therapy substantially enhanced the chances of attaining no evidence of disease activity (NEDA-3) vs switching from teriflunomide.

September 2020, Nanyang Technological University, Singapore (NTU Singapore) materials scientists have invented a novel tablet that utilizes the stomach as a drug reservoir and slowly distributes medications to Parkinson's disease patients over time.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 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

6. Methodology and Scope

Neurology Clinical Trials Market Segmentation

By Phase (Revenue, USD Billion):

Phase I
Phase II
Phase III
Phase IV

By Study Design Outlook (Revenue, USD Billion):

Epilepsy
Parkinson's Disease (PD)
Huntington's Disease
Stroke
Traumatic Brain Injury (TBI)
Amyotrophic Lateral Sclerosis (ALS)
Muscle regeneration
Others

By Indication Outlook (Revenue, USD Billion):

Interventional
Observational
Expanded Access

Methodology for Database Creation

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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.