Immunosuppressants - Singapore

Singapore

In Singapore, the Immunosuppressants market is expected to witness significant growth in the coming years.
By 2024, the projected revenue is estimated to reach US$59.47m.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 16.28%.
As a result, the market volume is projected to reach US$126.40m by 2029.
When compared globally, United States is expected to generate the highest revenue in the Immunosuppressants market.
In 2024, the revenue United States is estimated to be a staggering US$35,470.00m.
This showcases the dominant position of the United States in this market.
Singapore is experiencing a growing demand for immunosuppressants due to its high prevalence of organ transplant surgeries.

Key regions: Australia, Germany, United Kingdom, United States, France

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Analyst Opinion

The demand for immunosuppressants in Singapore has been on the rise in recent years, driven by a growing prevalence of autoimmune diseases and an aging population.

Customer preferences: Patients in Singapore prefer immunosuppressants that are effective and have minimal side effects. They also prefer medications that are affordable and easily accessible. As a result, generic immunosuppressants are becoming increasingly popular in the market.

Trends in the market: The immunosuppressants market in Singapore is expected to experience steady growth in the coming years. This is due to the increasing prevalence of autoimmune diseases such as lupus and rheumatoid arthritis, which require long-term treatment with immunosuppressants. In addition, the aging population in Singapore is also contributing to the growth of the market, as older adults are more likely to develop autoimmune diseases.

Local special circumstances: One of the unique features of the Singapore market is the government's active role in regulating drug prices. The government's Pharmaceutical Benefits Scheme (PBS) negotiates with drug manufacturers to keep prices affordable for patients. This has led to a highly competitive market for immunosuppressants, with many generic options available.

Underlying macroeconomic factors: Singapore's strong economy and high standard of living have led to an increased demand for healthcare services, including immunosuppressants. The government's focus on promoting healthcare and wellness has also contributed to the growth of the market. In addition, Singapore's strategic location in Southeast Asia has made it a hub for medical tourism, with many patients coming to the country for treatment of autoimmune diseases. This has further increased the demand for immunosuppressants in the market.

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.