Anti-Coagulants - Singapore

Singapore

In Singapore, the revenue of the Anti-Coagulants market is forecasted to reach US$52.19m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 8.54%, leading to a market volume of US$78.62m by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$16,740.00m in 2024.
In Singapore's anti-coagulant market, there is a growing preference for direct oral anticoagulants (DOACs) due to their convenience and effectiveness.

Key regions: Australia, Japan, United States, Germany, Europe

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Analyst Opinion

The use of Anti-Coagulants in Singapore has been on the rise in recent years, driven by several factors.

Customer preferences: The aging population in Singapore has led to an increase in the prevalence of chronic diseases such as cardiovascular diseases, which require the use of Anti-Coagulants. Additionally, there is growing awareness among the population about the importance of preventive healthcare, leading to more individuals seeking treatment for conditions that require Anti-Coagulants.

Trends in the market: The Anti-Coagulants market in Singapore has seen a shift towards the use of newer oral anticoagulants (NOACs) over traditional anticoagulants such as warfarin. This trend is driven by the ease of use and lower risk of bleeding associated with NOACs. Additionally, there has been an increase in the use of combination therapies, where Anti-Coagulants are used in conjunction with other drugs to treat underlying conditions.

Local special circumstances: One of the unique factors in the Singaporean market is the government's emphasis on cost-effectiveness in healthcare. As a result, there has been a push towards the use of generic drugs, which has led to increased competition in the Anti-Coagulants market. Additionally, the government has implemented measures to encourage the use of NOACs over traditional anticoagulants, such as subsidies for patients who switch to NOACs.

Underlying macroeconomic factors: The Singaporean economy has been growing steadily in recent years, leading to an increase in healthcare spending. Additionally, the government has been investing in healthcare infrastructure and technology, which has led to improved access to healthcare services. These factors have contributed to the growth of the Anti-Coagulants market in Singapore.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.