Singapore Vaccines Market Insights Forecasts to 2033

• The Singapore Vaccines Market Size was valued at USD 90.5 Million in 2023.
• The Market Size is Growing at a CAGR of 8.23% from 2023 to 2033
• The Singapore Vaccines Market Size is expected to exceed USD 199.5 Million by 2033

 

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The Singapore Vaccines Market Size is anticipated to exceed USD 199.5 Million by 2033, growing at a CAGR of 8.23% from 2023 to 2033. The increasing R&D activities for novel products, government support & funding, and technological advancements are driving the growth of the vaccine market in Singapore.     

 

Market Overview

Vaccines are the suspended formulation of weakened, killed, or fragmented microorganisms or toxins or other biological preparations that are administered primarily to prevent disease. Although most vaccines are given by injection (parenteral administration), some can be taken orally or even through the nose (such as the flu vaccine). Vaccinations are given to infants to protect them from long-term diseases including tuberculosis and rotavirus. Further, implementing new disease prevention techniques in response to introducing new illnesses like the H1B1 virus and swine flu (H1N1) is escalating the demand for vaccines. There is an increasing focus on creating novel therapeutic vaccine products that can be applied to particular immunotherapies to enhance cancer patient's treatment efficiency. Further, scientists are actively exploring and creating innovative therapeutic vaccines for hypertension, dyslipidemia, Alzheimer’s, cancer, and inflammatory diseases.  

 

Report Coverage

This research report categorizes the market for the Singapore vaccines market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Singapore vaccines market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Singapore vaccines market.

 

Driving Factors

The upsurging R&D facility for the formulation of vaccines including candidate selection, design, early manufacturing process development, and preclinical studies are propelling the vaccines market. Government support and funding as well as subsidies for vaccination is driving the market growth. For instance, VCDSS enables eligible Singapore Citizens and Permanent Residents to receive subsidies for nationally recommended vaccinations and Childhood Development Screenings at polyclinics and (CHAS) GP clinics. The emerging concept of non-viral vaccine technologies, including viral-like particle and nanoparticle vaccines, DNA/RNA vaccines, and rational vaccines development are contributing to drive the market growth.

 

Restraining Factors

The high initial investment and stringent regulatory processes for approval are challenging the vaccines market. Further, the lack of awareness and recommendations by healthcare providers may hinder the vaccination rate, thereby restraining the market growth.

 

Market Segmentation

The Singapore Vaccines Market share is classified into type, route of administration, disease indication, age group, and distribution channel.

• The mRNA segment is anticipated to hold the largest market share during the forecast period.

The Singapore vaccines market is segmented by type into recombinant/conjugate/subunit, inactivated, live attenuated, viral vector, mRNA, toxoid, and others. Among these, the mRNA segment is anticipated to hold the largest market share during the forecast period. Messenger RNA (mRNA) molecules are used in mRNA vaccines to transfer genetic instructions to bodily cells and trigger an immunological response. mRNA vaccines have been quite successful and received a lot of attention during and after the COVID-19 epidemic. The increasing R&D activities and the need for new vaccines & therapeutics are driving the market growth.

 

• The parenteral segment accounted for the largest revenue share of the Singapore vaccines market in 2023.

The Singapore vaccines market is segmented by route of administration into oral, parenteral, and nasal. Among these, the parenteral segment accounted for the largest revenue share of the Singapore vaccines market in 2023. There are three approved methods for administering parenteral vaccines: intramuscular, subcutaneous, and intradermal. These methods can be used with standard hypodermic needles or with alternative or needle-free injection devices. The increasing technological advancements and demand for effective vaccines for treating a wide range of infectious diseases are driving the market growth.

 

• The viral diseases segment dominated the Singapore vaccines market with the largest market share in 2023.       

Based on the disease indication, the Singapore vaccines market is divided into viral diseases, bacterial diseases, cancer, and allergy vaccine. Among these, the viral diseases segment dominated the Singapore vaccines market with the largest market share in 2023. Either attenuated (alive but incapable of causing disease) or inactivated viruses are used in viral vaccinations, most effectively providing preventive measures against infections caused by viral agents from common cold, flu, and warts to severe viral diseases including HIV, Ebola, influenza, and others. The increasing prevalence of viral diseases and government initiatives for immunization are driving the market.

 

• The adults segment is anticipated to hold the largest market share during the forecast period.

Based on the age group, the Singapore vaccines market is divided into pediatric and adults. Among these, the adults segment is anticipated to hold the largest market share during the forecast period. Vaccines are recommended under the NAIS (National Adult Immunisation Schedule) help to reduce the risk of infections among susceptible individuals and related complications, morbidity, and mortality. The emphasis on immunization programs and healthcare awareness are contributing to driving the market growth.

 

• The government suppliers segment held the largest revenue share of the Singapore vaccines market in 2023.

Based on the distribution channel, the Singapore vaccines market is divided into hospital & retail pharmacies, government suppliers, and others. Among these, the government suppliers segment held the largest revenue share of the Singapore vaccines market in 2023. Singapore's efforts to obtain vaccines shortly after the COVID-19 outbreak started, as the government began closely monitoring the development of vaccines. The increasing implementation of vaccination programs is driving the market.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Singapore vaccines market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

• Pfizer
• GlaxoSmithKline
• Merck & Co
• Sanofi
• Moderna
• AstraZeneca
• Others

 

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

 

Recent Developments

• In August 2024, Danish biotech Bavarian Nordic, opened new tab said its mpox vaccine Jynneos had been approved by Singapore's medicines regulatory authority for use in the country.

 

• In August 2024, Hilleman Laboratories has today announced that its partner Bharat Biotech, has successfully launched HILLCHOL, a breakthrough oral cholera vaccine (OCV), achieving a significant global public health milestone.

 

• In February 2024, Thermo Fisher Scientific opened a new sterile drug facility in Singapore that would better enable customers to deliver new medicines and vaccines in the Asia-Pacific market.

 

Market Segment

This study forecasts revenue at Singapore, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Singapore Vaccines Market based on the below-mentioned segments:

 

Singapore Vaccine Market, By Type

• Recombinant/Conjugate/Subunit
• Inactivated
• Live Attenuated
• Viral Vector
• mRNA
• Toxoid
• Others

 

Singapore Vaccine Market, By Route of Administration

• Oral
• Parenteral
• Nasal

 

Singapore Vaccine Market, By Disease Indication

• Viral Diseases
• Bacterial Diseases
• Cancer
• Allergy Vaccine

 

Singapore Vaccine Market, By Age Group

• Pediatric
• Adults

 

Singapore Vaccine Market, By Distribution Channel

• Hospital & Retail Pharmacies
• Government Suppliers
• Others