Singapore pharmaceuticals market

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Visibility Report Code :HC 1238

Singapore Pharmaceutical Market 2016-2024 Outlook 2024:

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Executive Summary Global Pharmaceutical Market Share(%), By Region2016-2024

Singapore Pharmaceutical Market Size USD (Billion).

2016-2024

XX%

CAGR: (2016-2024)

2016e

2017e

2018f

2019f

2020f

2021f

e l p m a

2022f

Source: Goldstein Research

2023f

2024f

North America

Over the counter drugs accounted for the highest market share XX% in

S Over-thecounter (OTC) drugs

XX%

XX%

XX%

Generic Drugs

Patented Drugs

9.00 19.00 % % 12.00 15.00 % % 13.00 12.00 % 11.00 % % 9.00%

Latin America

Middle East & Africa

Source: Goldstein Research

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North America

Percentage of GDP Spent on Health Care, 2014

Cardiovascular Diseases Diabetes

Respiratory Diseases Infectious Diseases Oncology

Gastrointestinal Problems Central Nervous System (CNS) Disorders Other  Diseases (Dermatology, Rheumatology)

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APAC

With share in 2016, region dominated the collective Singapore Pharmaceutical Market

Singapore Pharmaceutical Market Singapore Pharmaceutical Market Singapore Pharmaceutical Market Share(%), By Therapeutics-2016 Share(%), By Product Type-2016

Source: Goldstein Research

Europe

Source: Goldstein Research

In 2016,

XX%

15.0 26.0 0% 0% 14.0 0% 2024 21.0 24.0 0% 0%

15. 26.

00 00 14.

00% 2016% 24. %21.

00 00 % %

4.9% Source: Goldstein Research

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Key Findings  Singapore Pharmaceutical Market was estimated to be USD XX billion in 2016 and is estimated to grow over USD XX billion by 2024. Factors like the growing awareness of hypertension and its treatment options to impel this market’s growth prospects until the end of 2024.  With its strong intellectual property laws, stable and industry-supportive political structures, and mature business environment, Singapore is poised to enlarge its high-tech research sector. The country is already a major re-exporter of pharmaceuticals—but its larger vision is to be the leading biomedical hub in Asia, providing services from basic research to clinical trials, product development, manufacturing, and clinical healthcare delivery.

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 Crucial steps toward this goal were the mid-1990s establishment of Tuas Biomedical Parks 1 and 2 and a more recent investment of $1 billion to develop several research institutes and the Biopolis R&D complex. Together, the investments have attracted more than 30 major global life-sciences companies and created an effective ecosystem that harnesses the benefits of economies of scale and knowledge transfer  Singapore offers universal health care coverage to citizens, with a financing system anchored in the twin philosophies of individual responsibility and affordable health care for all. Coverage is funded through a combination of government subsidies (from general tax revenue), multilayered health care financing schemes, and private individual savings, all administered at the national level. National capital expenditures are set in the government’s annual budget.  The first tier of protection comprises government subsidies of up to 80 percent of the total cost of care provided in public hospitals and primary care polyclinics. This is supported by a group of savings and insurance programs known as the “3Ms” system—for Medisave, MediShield, and Singapore Pharmaceutical Revenue (USD Billion) Medifund—which plays a critical role in maintaining the public’s health and welfare

S

2016

2024 Copyright

Singapo re USD XX Billion

USD XX Billion

USD XX Billion

USD XX Billion

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Presence of Major Players

Increasing geriatric population

Increase in Obese Population

Indonesia

Rising adoption of strong public health policies

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Top Global Pharmaceutical Markets And The Competitive Landscape

Sample Repor t

S Copyright

e l p m a

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Singapore Pharmaceutical Market Size & Growth Analysis Singapore Pharmaceutical Market Size (USD Billion)2016-2024 XX

XX

l p m a XX% XX%

XX

XX

XX

XX% XX%

XX

XX XX

XX%

XX XX

XX

XX

XX

XX%

XX%

XX

XX

XX%XX% XX% XX%XX%XX% XX% XX%XX% XX%

XX

XX

XX

Singapore Pharmaceutical Market Y-O-Y Growth (%) Analysis-2016-2024

XX%

XX

XX% XX%

XX XX

2015

2016

2017

2018

Source: Goldstein Research

2019

S 2020

2021

2022

XX%

2015

2023

2024

2016

2017

2018

2019

2020

2021

2022

2023

Source: Goldstein Research

Singapore Pharmaceutical Market is anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. Further, Singapore pharmaceutical revenue increased from USD XX billion in 2015 to USD XX billion in 2016 as Singaporean are commonly affected to chronic diseases like asthma, chronic obstructive pulmonary disease (COPD), diabetes mellitus, hypertension, lipid disorder & stroke..  Medisave is a mandatory medical savings program that requires workers to contribute a percentage of their wages to a personal account, with a matching contribution from employers. Individual contributions to and withdrawals from the accounts are tax-exempt. Funds in the account are used, under strict guidelines, to pay for health services such as hospitalization, day surgery and certain outpatient health insurance for the account holder, as well as for family members.

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2024

Singapore Pharmaceutical Market Overview, By Region and Market Players-2016

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Top Six Health Issues In Singapore, 2016

World Top Pharmaceutical Companies Market Share (%), By Players, 2016

1. Respiratory Conditions, Asthma and Lung Irritants 2. Hand, Foot and Mouth Disease 3. Dengue Fever 4. Type 2 Diabetes 5. Influenza 6. Colon Cancer

Source: Goldstein Research

S

XX% XX% XX% XX% XX% XX%

XX%

XX%

Pfizer Sanofi Merck & Co. Takeda/Astra Novartis BMS Abbott Solvay

Source: Goldstein Research

 Singapore respiratory conditions market accounted for USD XX billion in 2016 followed by asthma, lung irritants, hand foot & mouth diseases, dengue fever, type 2 diabetes, influenza & colon cancer. The government subsidizes a portion of the cost of patient care, based on ability to pay. Copayments after subsidy can be covered by MediShield insurance or paid for using Medisave savings.

e

 MediShield is a low-cost catastrophic health insurance scheme to help policyholders meet the medical expenses from major or prolonged illnesses that their Medisave balance would not be sufficient to cover. MediShield operates on a copayment and deductible system. The premiums for MediShield are payable by the insured through Medisave. Singaporeans are automatically enrolled in the program. Permanent residents are covered by MediShield, but undocumented immigrants and visitors are Copyright

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Market Dynamics of Singapore Pharmaceutical Market

Growth Drivers

S

Growth Barriers

l p m a Availabili ty of Major Players

Patent Expiration

General Trend

Highly Complex Moderately ComplexWaived Dynamics Copyright

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Growth Drivers Growth in aging population

Fig: 5-1 Population(Million), Aging population(Million), Singapore-2016-2050

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 Rise in aging population in many nations across the globe is a major a growth driver for the pharmaceutical industry.

Singapore Population Singapore Population

 This aging population is expected to have diabetic and other health related problems in Singapore as XX% of the total population are obese in Singapore which further increases the risk of diabetes and heart related problems.

 Rising concern towards fitness & healthy lifestyle among aging population is expected to spike the healthcare industry in near future.  In Singapore, XX million people are aged above 65 in 20105 i.e. XX% of the total population & this aging population is expected to reach XX% of the total population by 2030 according to the report of Centers for Disease Control & Prevention (CDS)

Singapore’s Mundipharma acquires brands as part of Thai growth push and this deal was cracked at USD XX Billion

S

Governmental organizations like World health Organization (WHO) starts various awareness programs across the globe to promote healthcare services.

Mundipharma has aggressively grown in terms of sale revenue from USD XX million in 2015 to USD XX million in 2016, and targets to hit USD 10 million this year due partly to the launch of six new products next month High

2016 2050 XX Million XX Million Aging population 2016 2050 XX Million XX Million

Source: World Bank

Impact Analysis:-

 Government funding for the advancement in healthcare sector and initiatives to promote healthcare across the globe is expected to positively impact on the growth of Singapore pharmaceuticals market.  Increase in aging population and focusing on fitness & healthy lifestyle is predicted to rise the Singapore pharmaceuticals market.

Medium

Low

Impact on Singapore Pharmaceutical Market Copyright

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Age-standardized Prevalence Of Chronic Issues In Adults 20 Years And Older By World Region And Sex, 2015 & 2016

Prevalence of Chronic Disorders

2015

2016

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l p m a XX

XX XX XX XX XX XX XX XX

XX

XX XX XX XX XX XX XX XX XX

XX

XX XX

XX

XX

S XX

XX

XX

XX

XX

XX

XX

XX

XX

XX

e

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XX

XX

XX

XX

Men Women

XX

XX

XX

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Men Women

Why Singapore Is A Pharma Hub for Asia?

Over the past ten years, Singapore has evolved into a pharmaceutical and medical technology hub due to its world-class infrastructure, highly-skilled biomedical workforce and favorable government policy initiatives. Over 30 of the world’s top pharmaceutical and medical technology firms have The pharmaceutical market in established their manufacturing, R&D and Singapore is set to rise from headquarter functions in Singapore to identify new strategic business opportunities, and accelerate USD XX million in 2017 to product innovation in Asia. These include Abbott, around USD XX billion in 2024, GlaxoSmithKline, Lonza, MSD, Novartis, Pfizer and and will first exceed the USD XX Sanofi-Aventis. billion mark in 2019 With a population of only 5.6 million as of 2016, The pharmaceutical industry in Singapore Singapore provides experienced a number of large scale limited scope for domestic mergers and acquisitions (M&A) over the businesses to generate past several years.

Most recently, revenue. However, the GlaxoSmithKline (GSK) and Novartis country is a regional hub, combined their Consumer Healthcare and provides world-class businesses to create a new joint venture infrastructure for in Singapore. GSK will also establish its manufacturing and R&D global Asia headquarters in Singapore to facilities of multinational oversee the Pharmaceuticals, Vaccines pharmaceutical and Consumer Healthcare businesses in companies.

Asia. As a result, almost 150 global or regional roles moved to Singapore in the last year.All Rights Reserved, Goldstein Research Copyright www.goldsteinresearch.com

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Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined and clear Publishedideas By: Goldstein cut forecasts.

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