pharmaceutical market research singapore

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Pharmaceutical industry in Singapore - statistics & facts

 the bms initiative and the pharmaceutical industry , pharmaceutical industry outlook in singapore, key insights.

Detailed statistics

Value added by the pharmaceutical industry Singapore 2014-2023

R&D spending in Singapore 2019, by area of research

Number of licenses for retail pharmacies approved Singapore 2017-2023

Editor’s Picks Current statistics on this topic

Current statistics on this topic.

Pharmaceuticals

Industry & Market

Output value of pharmaceutical and biological industry Singapore 2014-2023

Export value of pharmaceutical products Singapore 2013-2022

Recommended statistics

Premium Statistic World pharmaceutical sales by region forecast 2027
Premium Statistic Value added by the pharmaceutical industry Singapore 2014-2023
Premium Statistic Expected value added biomedical manufacturing Singapore 2017-2022
Premium Statistic FDI stock for pharmaceutical and biological products Singapore 2013-2022
Premium Statistic FDI earnings for pharmaceutical and biological products Singapore 2013-2022

World pharmaceutical sales by region forecast 2027

Projected global pharmaceutical sales for 2027, by region (in billion U.S. dollars)

Value added by the pharmaceutical industry in Singapore from 2014 to 2023 (in billion Singapore dollars)

Expected value added biomedical manufacturing Singapore 2017-2022

Expected value added generated from biomedical manufacturing in Singapore as share of GDP from 2017 to 2022 (in million Singapore dollars)

FDI stock for pharmaceutical and biological products Singapore 2013-2022

Foreign direct investment (FDI) stock for pharmaceutical and biological products in Singapore from 2013 to 2022 (in billion Singapore dollars)

FDI earnings for pharmaceutical and biological products Singapore 2013-2022

Earnings of foreign direct investment (FDI) for pharmaceutical and biological products in Singapore from 2013 to 2022 (in billion Singapore dollars)

Premium Statistic Industrial production index pharmaceuticals biological products Singapore 2014-2023
Premium Statistic Production facilities for pharmaceutical and biological products Singapore 2013-2022
Premium Statistic Number of employees in the pharmaceutical industry Singapore 2000-2023
Premium Statistic Value added per worker in the pharmaceutical industry Singapore 2000-2023
Premium Statistic Output value of pharmaceutical and biological industry Singapore 2014-2023

Industrial production index pharmaceuticals biological products Singapore 2014-2023

Industrial production index for pharmaceuticals and biological products in Singapore from 2014 to 2023

Production facilities for pharmaceutical and biological products Singapore 2013-2022

Number of manufacturing establishments for pharmaceutical and biological products in Singapore from 2013 to 2022

Number of employees in the pharmaceutical industry Singapore 2000-2023

Number of employees in the pharmaceutical manufacturing in Singapore from 2000 to 2023 (in 1,000s)

Value added per worker in the pharmaceutical industry Singapore 2000-2023

Value added per worker in the pharmaceutical industry in Singapore from 2000 to 2023 (in million Singapore dollars)

Manufacturing output value of pharmaceutical and biological industry in Singapore from 2014 to 2023 (in billion Singapore dollars)

Premium Statistic Number of clinical trials approved Singapore 2017-2023
Premium Statistic Number of licenses for health product wholesalers approved Singapore 2017-2022
Premium Statistic Number of licenses for health product manufacturers approved Singapore 2017-2022
Premium Statistic Number of licenses for health product importers approved Singapore 2017-2022
Premium Statistic Number of licenses for health product exporters approved Singapore 2017-2023

Number of clinical trials approved Singapore 2017-2023

Number of clinical trials approved in Singapore from financial years 2017 to 2023

Number of licenses for health product wholesalers approved Singapore 2017-2022

Number of approved licenses for wholesalers of health products in Singapore from financial years 2017 to 2022

Number of licenses for health product manufacturers approved Singapore 2017-2022

Number of licenses for manufacturers of health products approved in Singapore from financial year 2017 to 2022

Number of licenses for health product importers approved Singapore 2017-2022

Number of approved licenses for importers of health products in Singapore from financial years 2017 to 2022

Number of licenses for health product exporters approved Singapore 2017-2023

Number of approved licenses for exporters of health products in Singapore from financial years 2017 to 2023

International trade

Premium Statistic Export value of pharmaceutical products Singapore 2013-2022
Premium Statistic Import value of pharmaceutical products Singapore 2013-2022
Premium Statistic Import value of medicaments Singapore 2013-2022
Premium Statistic Export value of medicaments Singapore 2013-2022
Premium Statistic Export value of vaccines for human medicine Singapore 2012-2021
Premium Statistic Import value of vaccines for human medicine Singapore 2012-2021

Export value of pharmaceutical products from Singapore from 2013 to 2022 (in billion U.S. dollars)

Import value of pharmaceutical products Singapore 2013-2022

Import value of pharmaceutical products to Singapore from 2013 to 2022 (in billion U.S. dollars)

Import value of medicaments Singapore 2013-2022

Import value of medicaments to Singapore from 2013 to 2022 (in million U.S. dollars)

Export value of medicaments Singapore 2013-2022

Export value of medicaments from Singapore from 2013 to 2022 (in million U.S. dollars)

Export value of vaccines for human medicine Singapore 2012-2021

Export value of vaccines for human medicine from Singapore from 2012 to 2021 (in million U.S. dollars)

Import value of vaccines for human medicine Singapore 2012-2021

Import value of vaccines for human medicine to Singapore from 2012 to 2021 (in million U.S. dollars)

OTC pharmaceuticals

Premium Statistic Revenue of the OTC pharmaceuticals industry in Singapore 2018-2029
Premium Statistic Revenue of the analgesics industry in Singapore 2018-2029
Premium Statistic Revenue of the digestives & intestinal remedies industry in Singapore 2018-2029
Premium Statistic Revenue of the skin treatment industry in Singapore 2018-2029
Premium Statistic Revenue of the cold & cough remedies industry in Singapore 2018-2029

Revenue of the OTC pharmaceuticals industry in Singapore 2018-2029

Revenue of the OTC pharmaceuticals market in Singapore from 2018 to 2029 (in million U.S. dollars)

Revenue of the analgesics industry in Singapore 2018-2029

Revenue of the analgesics market in Singapore from 2018 to 2029 (in million U.S. dollars)

Revenue of the digestives & intestinal remedies industry in Singapore 2018-2029

Revenue of the digestives & intestinal remedies market in Singapore from 2018 to 2029 (in million U.S. dollars)

Revenue of the skin treatment industry in Singapore 2018-2029

Revenue of the skin treatment market in Singapore from 2018 to 2029 (in million U.S. dollars)

Revenue of the cold & cough remedies industry in Singapore 2018-2029

Revenue of the cold & cough remedies market in Singapore from 2018 to 2029 (in million U.S. dollars)

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Singapore Pharmaceutical Market: Full of Opportunities for Global Companies

The pharmaceutical industry in Singapore has strongly evolved owing to the highly-skilled biomedical workforce, world-class infrastructure, and favorable government policy initiatives. Nearly 30 of the world’s top pharmaceutical firms have established their manufacturing and R&D unit in Singapore to explore new strategic business opportunities, and to introduce product innovations in Asia. The volume of trade flow for pharmaceutical products, in and out of Singapore, is suspiciously huge and that’s why it acts as a key trading hub to connect South East Asia and the Western world. Singapore is one of the major re-exporters of pharmaceuticals. Singapore’s pharmaceutical industry is regulated by the Health Sciences Authority (HSA) and the Health Products Act 2007, which includes all medical devices, pharmaceuticals, medicines and other supplements. These regulatory bodies carry out stringent approvals for cost effective and efficient medical devices, and other medical products.

Some of the major players in Singapore pharmaceutical market are Abbott, GlaxoSmithKline, Lonza, MSD, Novartis, Pfizer and Sanofi-Aventis. These pharmaceutical companies account for more than 35-40% share of Singapore’s regional market. The leading position of Singapore pharmaceutical industry in medical innovation and production is also contributed to the Singaporean government authorities, as they provide large investments in its research and development capabilities.

Despite these growth opportunities, there are some challenges associated with Singapore pharmaceutical industry. There are still some remote locations and niche markets where there is a lack of suitable local manpower. Another challenge faced by pharmaceutical companies is the potential loss of sales due to patent expiration. As a result, many innovator companies are channelizing more resources into research and development initiatives in order to replace old drugs with new ones. An extensive investment by the public and private sector and specific expertise will help Singapore to overcome the above mentioned challenges, and it is also expected that the global pharmaceutical firms will continue to leverage Singapore’s pharmaceutical hub status to gain access to awaited opportunities in the emerging market of Asian countries.

Singapore has emerged as one of the most advanced hubs in the field of pharmaceutical manufacturing and research in Asia. Growing number of foreign companies as well as investments by Singaporean government has led to the growth of pharmaceutical industry in this region. The country is expected to grow at a decent CAGR in the near future. With a well-developed infrastructure and distribution network, strong intellectual property (IP) laws with good regulatory environment, and active government support of the biomedical industry. This makes Singapore, the first choice to manufacture pharmaceuticals, expand or sell their products in the Asian market.

pharmaceutical market research singapore

Source: Market Research Future

Singapore Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

All the vital news, analysis, and commentary curated by our industry experts.

Published: July 18, 2022 Report Code: GDHC0074CHR-ST

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Report Overview

Singapore healthcare market report overview.

The Singapore pharmaceutical market size was $12.7 billion in 2021 and the medical devices market size is $3.5 billion in 2022. Singapore’s pharmaceutical industry is paving its way to developing into a global manufacturing hub with its highly skilled biomedical workers, excellent infrastructure, promising government policies, and significant R&D spending, among others.

The Singapore Healthcare Market analysis report is an essential source of information on the analysis of the healthcare, regulatory, and reimbursement landscape in Singapore. It identifies the key trends in the country’s healthcare market and provides insights into its demographic, regulatory and reimbursement landscape, and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets.

Singapore Healthcare Market Outlook 2021-2027 ($ Billion)

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Singapore Pharmaceuticals Market Import and Export Partners

The top import partners of Singapore are France, the US, Germany, Switzerland, and Belgium. France accounts for the highest percentage of the import business. The top export partners of Singapore are Switzerland, the US, China, Japan, and the Netherlands. Switzerland accounts for the highest percentage of the export business.

Singapore Pharmaceuticals Market by Import Partners, 2021 (%)

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Singapore Pharmaceuticals Market, by Export Partners

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Key Segments in the Singapore Pharmaceuticals Market

The key segments in Singapore’s pharmaceuticals market are generics, biologics, biosimilars, and over-the-counter (OTC).

Key Companies in the Singapore Pharmaceuticals Market

The key companies in the Singapore pharmaceuticals market are Sanofi, GlaxoSmithKline (GSK), Boehringer Ingelheim, Astellas Pharma, and iX Biopharma Ltd.

Singapore Pharmaceuticals Market Analysis, by Companies

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Key Companies in the Medical Devices Market of Singapore

The key companies in the medical devices market of Singapore are Abbott, Fresenius SE & Co. KGaA (Fresenius), Alcon, Nipro Corp, and Biolidics Ltd.

Singapore Medical Devices Market, by Companies

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Market Report Overview (Pharmaceuticals Market)

Market report overview (medical devices).

This report provides:

An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
Profiles and SWOT analysis of the major players in the pharmaceutical market: Sanofi, GlaxoSmithKline (GSK), Boehringer Ingelheim, Astellas, and iX Biopharma.
Profiles and SWOT analysis of the major players in the medical device market: Abbott, Fresenius, Alcon, Nipro, and Biolidics.
An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in the healthcare market, HealthTech landscape, reimbursement, and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies, and the approval processes for new drugs and medical devices.
Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure, and healthcare expenditure.
An overview of the opportunities and challenges to growth in the Singapore healthcare market.

Reasons to Buy

Develop business strategies by understanding the trends shaping and driving the Singapore healthcare market.
Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments, and companies likely to impact the Singapore healthcare market in the future.
Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance.
Organize sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment, and strategic partnership.

13.5 Disclaimer

Table 25: Trade fairs, Singapore, 2022

Figure 110: Health expenditure share (% of total health spending), Singapore, 2014–22

Frequently asked questions

The Singapore pharmaceutical market size was $12.7 billion in 2021.

Key segments in the pharmaceuticals market in Singapore are generics, biologics, biosimilars, and over-the-counter (OTC).

The top import partners of Singapore are France, the US, Germany, Switzerland, and Belgium. The top export partners of Singapore are Switzerland, the US, China, Japan, and the Netherlands.

The Singapore medical devices market size is $3.5 billion in 2022.

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Singapore Pharmaceutical Industry Market Outlook 2030 by By Products, By Therapeutics, By Distribution Channel With Regional Outlook & Forecast To 2030

Singapore Pharmaceutical Market Overview

Development of new medicines which can prevent and treat all incurable diseases is the main focus of global pharmaceutical industry. With impressive economic growth and demographic transformation, Asian pharmaceutical market is rising at a very faster rate. In terms of growth, Singapore is becoming a global center for pharmaceutical industry. Pharmaceutical manufacturing & production industry plays an important role in Singapore’s economy. In 2012, as per World Bank data, Singapore spends 4.7% of its GDP into healthcare industry. Moreover, pharmaceutical industry contributes over 85% of total biomedical sciences manufacturing output of Singapore annually. As per World Health Organization (WHO), Singapore’s healthcare system holds sixth position worldwide.

Singapore’s pharmaceutical sector attracts many foreign companies for investments. For instance, more than 30 medtech companies have invested for research & development and in setting up pharmaceutical manufacturing plants in Singapore. Singapore’s multinational corporations and local startups are largest manufacturers and exporters of medical equipments across the world. Several medical products are exported from Singapore such as syringes, catheters, research instruments and scientific analytical equipments. Over 70% of world’s microarrays, 10% of global contact lenses and 50% of global thermal cyclers and mass spectrometers are manufactured in Singapore.

Market Segmentation

Singapore pharmaceutical market is categorized on the following basis:

Based on Products

Over-the-counter (OTC) drugs
Generic Drugs
Patented Drugs

Based on Therapeutics

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

Market Size and Forecast (2017-2030)

Singapore pharmaceutical market is anticipated to grow at a CAGR of 6.40% during the forecast period through 2030.

Pharmaceutical manufacturing industry provides highest paying jobs which is increasing the employment in the country. In 2012, as per Singapore Economic Development Board (EDB), pharmaceutical manufacturing sector provided more than 5,700 jobs with an average wage USD 70,000 in Singapore. Furthermore, Singapore invests huge amount to develop its healthcare system. In 2016, Singapore government invested around USD 13 billion in the development of healthcare facilities in the region. As per Ministry of Singapore Health, there were 12,000 hospital beds in 25 hospitals and specialty centers in Singapore.

Based on products over the counter drugs occupies largest share of Singapore pharmaceutical market. Singapore produces nearly 6% of the total world’s over the counter (OCT) drugs. OCT drugs are expected to occupy 48% revenue share of Singapore pharmaceutical market by the end of 2024.

Market Drivers and Challenges

Growing healthcare demand and adoption of modern technology is positively impacting the growth for pharmaceutical industry in Singapore. Development of cost-effective and reliable medical services is building a strong consumer trust relationship in foreign market. In developing countries of Asia-Pacific (APAC) regions ageing population and obesity is the major issue which is bolstering the pharmaceutical market in APAC region eventually expanding its roots in Singapore.

Despite of being the largest potential market for pharmaceutical industry, foreign drug manufacturers faces problems while exporting in Singapore. Product license from Association of Southeast Asian Nations (ASEAN) or ASEAN Common Technical Dossier (ACTD) to export and import of drugs in Singapore market is mandatory for all foreign drug companies. Foreign drug companies producing innovative drugs are facing challenges in exporting products in Singapore market. Foreign innovative drugs must receive prior approvals from other key markets then only it can be accepted in Singapore market. Moreover, orphan drugs are also facing a major growth problem as Singapore has no product designation system for orphan drugs which creates difficulty in registering. Orphan drugs needs to be registered as a new drug application which hampers its proper recognition in the market.

Covered In This Singapore Pharmaceuticals Industry Market Report

Market Synopsis

The Singapore Pharmaceutical Market is segmented as follows:

By Products (Market Size, Demand Analysis and Growth Analysis)
By Therapeutics (Market Size, Demand Analysis and Growth Analysis)

Market Dynamics: Growth Drivers, Restraints and Opportunities

Risk Factors
Regional Variations
Recent Trends and Developments

Key Market Players

Business Strategy
Product Portfolio
SWOT Analysis

Porter’s Five Force Model

Market Landscape: Competition and Beyond

Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem

Expert Analysis

Concluding Remarks

Novartis International AG
GlaxoSmithKline (GSK)
Abbot Laboratories
Merck Sharp & Dohme
Roche Holding AG
Pfizer Inc.
Raffles Medical Group Ltd.
Wave Life Sciences
Sphaera Pharma
Special Access Pharma
Melbourne Drugs

Singapore Pharmaceutical Industry Market Outlook 2030 by By Products, By Therapeutics, By Distribution Channel With Regional Outlook & Forecast To 2030

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Pharmaceuticals

Singapore Pharmaceuticals Market Summary, Competitive Analysis and Forecast to 2027

October 2023
Region: Singapore
ID: 5781978
Description

Companies Mentioned

Key Highlights

The pharmaceuticals market consists of ethical drugs only and does not include consumer healthcare or animal healthcare.
The Singaporean pharmaceuticals market had total revenues of $12.9 billion in 2022, representing a compound annual growth rate (CAGR) of 2.5% between 2017 and 2022.
The Singaporean market acquired a 3% share of the Asia-Pacific pharmaceuticals market in 2022. Singapore, a leading biomedical and pharmaceutical hub in Asia, has been attracting foreign and private investors through its Biomedical Sciences initiative since 2000. The government's support, including funding research and development, has also contributed to the industry's growth.
Save time carrying out entry-level research by identifying the size, growth, and leading players in the pharmaceuticals market in Singapore
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the pharmaceuticals market in Singapore
Leading company profiles reveal details of key pharmaceuticals market players’ global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the Singapore pharmaceuticals market with five year forecasts by both value and volume

Reasons to Buy

What was the size of the Singapore pharmaceuticals market by value in 2022?
What will be the size of the Singapore pharmaceuticals market in 2027?
What factors are affecting the strength of competition in the Singapore pharmaceuticals market?
How has the market performed over the last five years?
Who are the top competitors in Singapore's pharmaceuticals market?

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

Novartis AG
Pfizer Inc.
Astellas Pharma Inc.

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Research Reports

Report: Singapore’s pharmaceutical market to witness 5% CAGR up to 2021

Singapore’s pharmaceutical market is expected to increase from $903m in 2016 to $1.15bn in 2021 in value, representing a compound annual growth rate of approximately 5%, according to a report by GlobalData.

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Titled ‘ CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Singapore ’, the report states universal access to health insurance schemes and world-class biomedical sciences research facilities to be the main factors driving Singapore’s healthcare market.

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Despite a smaller population compared to other developed countries, Singapore ranked fourth globally in 2010 for its healthcare infrastructure.

It has also emerged as a regional hub for manufacturing and R&D activities for several multi-national pharmaceutical companies, states Sama Khan, Healthcare Analyst at GlobalData. The country boasts of several medical technology hubs, including MedTech, Biopolis and Tuas Biomedical Park, where pharmaceuticals and medical devices are developed.

Furthermore, Singapore ranked first in the 2016 Business Environment Risk Intelligence (BERI) among 50 countries. A pro-business corruption-free environment with strong government support, low labour costs and low corporate tax has created a favourable environment for pharmaceutical companies.

The Singapore Government also provides universal healthcare coverage. The per-capita expenditure on health increased from $1,656 in 2009 to $2,752 in 2014 and is expected to increase further due to a growing elderly population.

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A favourable economic environment, efficient healthcare infrastructure and increasing public healthcare expenditure will drive the market growth in the future, Khan adds.

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The Pharma Legal Handbook
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August 2021

With outstanding fundamentals, including top-class universities and hospitals, a government cognizant of the benefits that a robust research-based biopharma industry brings, and straightforward business processes, Singapore has long been a hub for life science companies looking to penetrate the vast Asia-Pacific region.

This exclusive new report deep dives into Singapore’s key attractions for international investors, from how its excellence in regulatory science has created a testbed for next-generation therapies and products, to the nation’s status as an advanced biomanufacturing hub for the region, to its increasing focus on translational research, building up an enabling ecosystem for biotechs seeking to take scientific discoveries from lab to patients.

Of course, 2020 was an extremely challenging year for Singaporean healthcare and life sciences. As the world pivoted to deal with the COVID-19 pandemic, the country’s status as a medical tourism hub took a major hit and many non-essential surgeries and procedures were postponed. However, Singapore looks set to emerge from the pandemic with renewed vigour, not least through a greater uptake of digital tools across the board, and with a reinforced footprint in cold-chain logistics as part of the wider push to distribute COVID-19 vaccines across Asia.

Through conversations with key stakeholders across government, academia, multinational giants, and emerging start-ups, this report showcases the incredible opportunities present in Singapore, its vital role within the wider region, and the strategies in place to capitalise on the country’s evolution over the next five years.

Legal & Regulatory

Choong May Ling, Mimi – CEO, Health Sciences Authority (HSA), Singapore

Ng Huck Hui – Assistant Chief Executive, Biomedical Research Council, Agency for Science, Technology and Research (A*STAR), Singapore

Harjit Gill – CEO, APACMed

Ashish D Pal – Managing Director, MSD Singapore, Malaysia & Brunei Cluster; President, Singapore Association of Pharmaceutical Industries (SAPI); Vice-President, Pharmaceutical Association of Malaysia (PhAMA)

Marine Queniart-Stojanovic – GM General Medicines Thailand, Malaysia & Singapore, Sanofi

Ai Li Siow – Managing Director, Siemens Healthineers Singapore

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Singapore's Advanced Manufacturing Will Attract Greater Pharmaceutical Investments

Pharmaceuticals / Singapore / Mon 05 Sep, 2022

Singapore will remain an attractive location for pharmaceutical manufacturing due to its business-friendly economy, combined with political stability and its geographical location in Asia Pacific.
The pharmaceutical industry will remain an increasingly important component of Singapore’s manufacturing sector.
Singapore is one of the few countries that has a positive pharmaceutical trade balance.

Singapore will remain an attractive location for pharmaceutical manufacturing due to its business-friendly economy, combined with political stability and its geographical location in Asia Pacific. In August 2022, China’s WuXi Biologics announced a 10-year investment plan aimed at establishing a world-class pharmaceutical contract manufacturing center in Singapore. This investment will establish a cutting-edge, fully integrated Contract Research, Development and Manufacturing Organization (CRDMO) center in Singapore, including a research and development service center and large-scale drug substance and drug product manufacturing facilities for biologics. According to the Singapore Economic Development Board (EDB) Chairman, Beh Swan Gin, ‘The investments will establish Singapore as a significant node in the company’s global research, development and manufacturing network. It is a testament to Singapore’s position as a global biopharmaceutical hub, and will strengthen our attractiveness to biotech innovators and start-ups.’

In February 2022, Moderna announced plans to set up a new subsidiary in Singapore, as well as three others in Malaysia, Taiwan and Hong Kong. The new subsidiary will provide local presence to support the delivery of mRNA vaccines and therapeutics in Singapore. The company’s plan to establish a local subsidiary reflects the strategic role of Singapore as a leading biomedical sciences hub.

In 2021, we estimate Singapore's pharmaceutical market to be valued SGD1.7bn (USD1.3bn), up 25.9% in local currency terms from the previous year. In 2022, we forecast the market to grow by 1.8%, reaching a value of SGD1.8bn (USD1.3bn). Over our five-year forecast period to 2026, we calculate that the pharmaceutical market will reach a value of SGD2.2bn (USD1.7bn), experiencing a compound annual growth rate (CAGR) of 4.5% in local currency terms and 6.0% in US dollar terms. Over our extended 10-year forecast period, medicine sales will experience a CAGR of 4.9% and 5.7% in local currency and US dollar terms respectively, reaching SGD2.8bn (USD2.2bn) by 2031.

Industry Rewards To Attract Pharmaceutical Investments

Singapore - pharmaceutical sales, sgdbn (2020-2031).

The pharmaceutical industry will remain an increasingly important component of Singapore’s manufacturing sector. There are 60 pharmaceutical manufacturing facilities in Singapore, and the majority are foreign firms, including many R&D-based companies. Companies like Sanofi , Thermo Fisher and GSK are notable examples that have continued to grow their presence and introduce innovative technologies in Singapore. In addition to global MNCs, Singapore also has an ecosystem of strong local enterprises that are pioneering developments in the biomedical space such as Tessa Therapeutics and Hummingbird Bioscience .

Development of innovative pharmaceuticals is a long-term ambition of the government of Singapore. In June 2019, the Experimental Drug Development Centre (EDDC) was established. EDDC was formed as a result of the integration of A*STAR drug discovery and development units, namely, the Experimental Therapeutics Centre (ETC), Drug, Discovery and Development (D3), and Experimental Biotherapeutics Centre (EBC). It is hoped that EDDC can better coordinate public-private partnerships in Singapore’s drug development ecosystem, and allow industry partners greater ability to translate discoveries into new medicines. The Agency for Science, Technology and Research (A*STAR) was founded nearly 40 years ago will the goal of supporting R&D to deliver a competitive advantage for Singapore’s economy. In June 2022, Boehringer Ingelheim and A*STAR announced a global licensing agreement under which Boehringer Ingelheim will obtain exclusive worldwide rights to research, develop and commercialize products based on a panel of innovative, tumor-specific antibodies from A*STAR.

Singapore is one of the few countries that has a positive pharmaceutical trade balance. In 2020, the city state exported medicine with a value of USD8.9bn, with the leading destinations being Switzerland, the US and China. During the year, Singapore imported pharmaceuticals with a value USD3.6bn, with the leading countries of origin being France, the US and Germany. As an entrepôt, Singapore re-exports some of its imports, including pharmaceuticals. The percentage change in the monthly export of pharmaceuticals from Singapore can be volatile, due to changes in manufacturing output such as a new batch of active ingredient coming on-line, or a product losing patent protection and seeing a consequential drop in demand.

Not All Imports Consumed Locally

Singapore - pharmaceutical trade forecast, sgdmn (2020-2026).

This commentary is published by BMI, a Fitch Solutions company, and is not a comment on Fitch Ratings Credit Ratings. Any comments or data included in the report are solely derived from BMI and independent sources. Fitch Ratings analysts do not share data or information with BMI. Copyright © 2023 Fitch Solutions Group Limited. All rights reserved. 30 North Colonnade, London E14 5GN, UK.

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Browse Research Asia Singapore All Categories Life Sciences Pharmaceuticals Region: Singapore Category : Pharmaceuticals

Singapore Pharmaceuticals

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Ask the analyst for, singapore pharmaceuticals market (2024-2030) outlook | size, industry, companies, forecast, value, revenue, analysis, trends, share & growth.

Report Description
Table of Content
Related Topics

Singapore Pharmaceuticals Market Competition 2023

Singapore export potential assessment for pharmaceuticals market (values in thousand), singapore pharmaceuticals market synopsis.

The pharmaceuticals market in Singapore encompasses the manufacturing, distribution, and sale of pharmaceutical products, including prescription drugs and over-the-counter medicines. Market trends are shaped by healthcare policies, pharmaceutical research and development, and population health needs. Key players include pharmaceutical companies producing a wide range of medications.

Drivers of the Market

The Singapore pharmaceuticals market is set to grow as it supports healthcare and pharmaceutical research and development. Pharmaceuticals encompass a wide range of therapeutic drugs and medicines. As healthcare standards evolve, and the pharmaceutical industry continues to innovate, the demand for pharmaceuticals in Singapore is expected to increase, driven by their critical role in treating and preventing various medical conditions.

Challenges of the Market

The Singapore pharmaceuticals market faces challenges related to regulatory compliance and the global competition in the pharmaceutical industry. Singapore is a hub for pharmaceutical manufacturing and research, and companies must navigate complex regulatory frameworks and international market dynamics. Staying compliant with evolving regulations and staying competitive in the global pharmaceutical landscape are essential challenges for the industry.

COVID-19 Impact on the Market

The COVID-19 pandemic had a significant impact on the Singapore pharmaceuticals market. The demand for pharmaceuticals, including vaccines and treatments, surged during the pandemic. Manufacturers had to ramp up production and ensure the supply of critical drugs and medical supplies while facing supply chain disruptions and increased scrutiny on quality and safety standards.

Key Players in the Market

Pharmaceutical companies like Pfizer and GlaxoSmithKline play pivotal roles in the Singapore pharmaceuticals market. Their extensive product portfolios cover a wide range of therapeutic areas, contributing to the healthcare sector`s growth.

Key Highlights of the Report:

Singapore Pharmaceuticals Market Outlook
Market Size of Singapore Pharmaceuticals Market, 2023
Forecast of Singapore Pharmaceuticals Market, 2030
Historical Data and Forecast of Singapore Pharmaceuticals Revenues & Volume for the Period 2020-2030
Singapore Pharmaceuticals Market Trend Evolution
Singapore Pharmaceuticals Market Drivers and Challenges
Singapore Pharmaceuticals Price Trends
Singapore Pharmaceuticals Porter's Five Forces
Singapore Pharmaceuticals Industry Life Cycle
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Type for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Pharmaceutical Drugs for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Biologics for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Distribution Channel for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Hospital Pharmacies for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Retail Pharmacies/ Drug Stores for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Others for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Route of Administration for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Oral for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Parenteral for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Drug Classification for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Branded Drugs for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Generic Drugs for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Mode of Purchase for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Prescription-Based Drugs for the Period 2020-2030
Historical Data and Forecast of Singapore Pharmaceuticals Market Revenues & Volume By Over-The-Counter Drugs for the Period 2020-2030
Singapore Pharmaceuticals Import Export Trade Statistics
Market Opportunity Assessment By Type
Market Opportunity Assessment By Distribution Channel
Market Opportunity Assessment By Route of Administration
Market Opportunity Assessment By Drug Classification
Market Opportunity Assessment By Mode of Purchase
Singapore Pharmaceuticals Top Companies Market Share
Singapore Pharmaceuticals Competitive Benchmarking By Technical and Operational Parameters
Singapore Pharmaceuticals Company Profiles
Singapore Pharmaceuticals Key Strategic Recommendations

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COVID 19 Impact on Singapore’s Pharmaceutical Market: Ken Research

Market Overview

Singapore Pharmaceutical Market can be permeated by the availability of best-in-class infrastructure, integrated hubs for pharmaceutical manufacture and research, access to regional markets, and trained labor. The income of the Singapore pharmaceutical market increased between the period of 2012 and 2017. AbbVie, Pfizer, Ferring Pharmaceuticals, and many more top biomedical corporations have chosen Singapore as their worldwide production headquarters. The pharmaceutical market in Singapore grew at a single-digit CAGR between 2012 and 2017. Singapore is one of Southeast Asia’s most technologically advanced and integrated centers for pharmaceutical manufacture and research. Singapore has established two biomedical hubs: Tuas Biomedical Park and Biopolis. While the Tuas Biomedical Park is largely focused on pharmaceutical manufacturing and production, on the other hand Biopolis fosters collaboration between public and private research institutions.

Singapore Pharmaceutical Market

Report Overview

According to the research report, “ Singapore Pharmaceutical Market Outlook to 2022 – by Prescription & OTC Drugs and by Patented & Generic Drugs” expresses that multinational corporations (MNCs) dominate the market, which is fragmented, with a strong emphasis on R&D operations. As of 2017, there were 54 pharmaceutical companies, and 5,500 medications were registered. GSK, Novartis, Roche, Pfizer, Bayer, AstraZeneca, Abbott, Baxter, Maccine, and others are significant international corporations. The development of inventive over-the-counter, generic, prescription and consumer health medications has increased, according to the pharmaceutical industry. Product range, distribution network, technology, and R&D expenditure are important competition criteria.

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By Prescription & OTC Drugs

In 2017, the majority of the pharmaceutical market’s sales in Singapore were of prescription medications. The remaining portion of the earnings came from over-the-counter medicines. The prevalence of chronic conditions like diabetes, cancer, and others has further fueled prescription medication sales, which can be ascribed to the rise in prescription use. Due to Singapore’s growing trend of self-medication, the sale of OTC medications has been increasing. Most antibiotics are sold over-the-counter. One of the OTC market areas with the fastest growth is vitamins and dietary supplements.

By Patented & Generic Drugs

The largest portion of the revenue in Singapore’s prescription drug market in 2017 came from patented medications. The remainder of the revenue has been made up of generic medications. Seek IP protection has encouraged worldwide businesses to establish production facilities and secure patent protection for their pharmaceuticals, APIs, and manufacturing techniques. It is also encouraged by the availability of cutting-edge infrastructure and significant financial investments in research initiatives. Drugs for oncology and infectious disorders are among them.

Future Outlook

Because everyone in Singapore has access to health insurance and has access to top-notch biomedical research facilities, the country’s pharmaceutical market is anticipated to increase at a single-digit CAGR between the period of 2017 and 2018.

The nation will continue to draw international investment due to its world-class manufacturing and research facilities. In order to expand its research and development (R&D) capabilities in Singapore, Japan’s Chugai Pharmaceutical, which runs satellite labs throughout Asia, aims to invest USD 355 million by 2021. The industry will see an increase in technological advancements to promote automation and boost productivity. For instance, GSK has been a leader in the field of continuous manufacturing, which replaces batch production with continuous addition and removal of inputs and products. At their manufacturing facilities across the nation, major international pharma manufacturers increase output and develop automation.

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Indonesia Pharmacy Retail Market Outlook to 2025 By Market Structure (Organized & Unorganized); By Region (West Java , East Java , Central Java , Jakarta , North Sumatra & Others); By Product Categories (Prescribed, OTC, Non-Pharmaceutical Products & Medical Equipment); By Therapeutic Areas; and By Product Type (Patented & Generic Drugs)

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Singapore Association of Pharmaceutical Industries SAPI Vision

The Singapore Association of Pharmaceutical Industries (SAPI) aims to make innovative medicine accessible to patients in Singapore. We achieve this through a sustainable and valued partnership with healthcare professionals and providers, government and patient group stakeholders, and a reputation of consistent ethical behavior.

The Association was founded on 26 May 1966. We were then known as the Pharmaceutical Trade Association.

On 19 December 1975, the Association’s name was changed to the Singapore Association of Pharmaceutical Industries (SAPI). The change in the name was to encompass a wider spectrum of pharmaceutical related businesses into the Association—namely the distributors, manufacturers, representative offices and affiliated companies.

In 2016, SAPI celebrated its 50 th Anniversary—50 years of contributing to the healthcare sector and community in many ways including enhancing quality of healthcare through innovative medicines and R&D, adding value to the economy through investment in biopharmaceutical manufacturing and clinical studies facilities and developing talents in the biopharmaceutical sector.

Our members are primarily research-based biopharmaceutical multinational companies with novel/ innovative products.

As a body, SAPI

1) Promotes ethical practices – High-standards of ethical practices – Self-regulating through our members’ voluntary acceptance and adherence to the SAPI Code of Conduct

2) Seeks collaborative dialogues

3) Promote the understanding of the value of innovative medicines, to extend and enhance human life, through effective dialogues with the government, healthcare professionals and other stakeholders.

Our Constitution

The Singapore Association of Pharmaceutical Industries’ Constitution is available for viewing and download here.

Application for Membership

We have two categories of membership:

ORDINARY MEMBER:

This category is restricted to pharmaceutical companies involved directly in the marketing of pharmaceutical products in Singapore. Generally, these companies are research-based multinational companies involved in Research and Development of novel products, and registered to operate in Singapore

ASSOCIATE MEMBER:

This category is open to any entity registered in Singapore, which is engaged in the promotion and advertising of medicinal products, or in the market research, publication or other activities related to medicinal products.

The application for membership shall be considered and approved by the SAPI Board of Directors. If approved, and upon payment of the prescribed entrance and membership fees, the applicant shall thereupon become a Member and shall enjoy all the privileges of the Association. However, note that Associate Members:

– shall not Propose or Second any Member for election to the Board, – shall not vote at any General election, – shall not be eligible to be a Board Director.

Please email the SAPI secretariat at [email protected] should you require more information.

Singapore Pharmaceuticals Market Summary, Competitive Analysis and Forecast to 2027

Published: October 2023
Report Code: MLOHMF22235

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Pharmaceuticals in Singapore industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

– The Singaporean market acquired a 3% share of the Asia-Pacific pharmaceuticals market in 2022. Singapore, a leading biomedical and pharmaceutical hub in Asia, has been attracting foreign and private investors through its Biomedical Sciences initiative since 2000. The government's support, including funding research and development, has also contributed to the industry's growth.

– Add weight to presentations and pitches by understanding the future growth prospects of the Singapore pharmaceuticals market with five year forecasts by both value and volume

Reasons to buy

Companies mentioned.

Astellas Pharma Inc.

List of tables.

Table 24: Singapore exchange rate, 2018-22

List of Figures

Figure 9: Drivers of degree of rivalry in the pharmaceuticals market in Singapore, 2022

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Singapore Biotechnology

The Singapore biotechnology market size was valued at $823.5 billion in 2021 according to Market Research Community and is expected to grow 8.0% yearly. At present, there are 52 biotech companies, and the number of biotech companies is forecasted to increase to 84 firms by 2032. Human Health and Potential is one of the four strategic domains under the $18.4 billion in funding that Singapore has committed to public sector research. Increasingly, global pharmaceutical companies are establishing external innovation teams in Singapore to partner emerging biotechnology firms to bring innovative therapies to the market. Phase 1 focused on developing the foundations of biomedical research, followed by Phase 2 which focused on translational clinical research. Phase 3, from 2011-2015, saw the forging of academia-industry links while Phase 4 delved into meeting healthcare and economic outcomes. The five key therapeutic areas that align to Singapore’s national healthcare needs are cancer, cardiovascular, diabetes, neurological and sensory disorders, and infectious diseases. Phase 5, from 2021-2025, will focus on health promotion and advancing human potential. This involves expanding Singapore’s national Precision Medicine research program, extending the scope of research to prenatal and early childhood development, and to healthy and meaningful longevity and strengthening the local biotech ecosystem. Biotech start-ups are a key engine of innovation and Singapore has tripled the number of companies in biotech-related areas from a decade ago. Approximately 140 companies are involved in therapeutic diagnostic drug delivery, drug delivery tools or supporting the vibrant growth of this sector. The biotechnology sector can be broadly classified by application - bio-pharmacy, bio-industrial, bio-services, bioinformatics, and bio-agriculture. Since the nineties, Singapore established itself as a world-class manufacturing hub for pharmaceuticals and in recent years, has developed innovative products such as biologics drug substance. In 2022, the sector produced more than $14 billion worth of products for the world. The Singapore government has its strategic investment vehicle, EDBI (Economic Development Board Investment), and is instrumental in fostering the development of the country’s life sciences sector, investing both domestically and internationally. EDBI recognizes “high potential growth” and late-stage companies, ranging from biotechs, diagnostics and medtech companies. Areas of interest include cell and gene therapy, genomics, precision medicine, digital therapeutics and increasingly AI and technology-driven medical devices. Public research is mainly conducted by A*STAR (Agency for Science Technology & Research) which oversees Singapore’s Research Institutes. U.S. companies that supply products and services that support the biotech ecosystem, like instrumentation, reagents, services, nano-biotechnology, PCR technology, DNA sequencing, cell-based essays, chromatography, tissue engineering and regeneration, fermentation and software solutions may find Singapore a potential market. Those interested to explore the Singapore biotech and human health potential sectors may contact Ms. Luanne Theseira at the U.S. Commercial Service in Singapore.

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COVID 19 Impact on Singapore’s Pharmaceutical Market: Ken Research

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Singaporean Pharmaceutical Industry to Reach US $1.2 Billion by 2021

Singapore is the first choice of the Biopharmaceutical giants to continue their manufacturing headquarters in the country and will continue to remain “a highly attractive manufacturing base”. The complete support of the Singaporean government to the industries to develop and also the operational risk is minimum, which could be a major reason for the display of the international pharmaceutical companies in the country. Singapore scored 82.2 out of 100 at operational risk environment, higher than the regional average of 53.6, according to BMI’s Operation Risk Index. In the past one decade, Singapore has evolved into a highly attractive hub for the pharmaceutical industry and medical technology this is because the country is providing world-class infrastructure, highly-skilled biomedical workforce and favourable government policy initiatives.

World’s top 30+ pharmaceutical and medical technology firms, such as Abbott, GlaxoSmithKline, Lonza, MSD, Novartis, Pfizer, Sanofi-Aventis, etc. have established their headquarter, manufacturing and R&D in Singapore just to identify and grasp new strategic business opportunities and accelerate product innovation in Asia. Singaporean pharmaceutical sector is the second highest contributor to the manufacturing output and accounts for 3% to its gross domestic product. Singaporean R&D projects will increase to 250% from 150% to support businesses in developing their own innovations, the tax deduction for labour costs and consumables incurred. The change will be effective from 2019 to 2025 assessment year. The pharmaceutical industry has seen significant changes over the time US $645 million in 2009 to the US $903 million in 2016 at a Compound Annual Growth Rate (CAGR) of 5% and expected to reach the US $1,148 million in 2021 at a CAGR of 5%.

Pharmaceutical Industry Developing Indigenous Manufacturing in Singapore:

In 2017, a memorandum of understanding (MoU) has signed in between the big pharma players, such as MSD, Pfizer and GSK and the Agency for Science, Technology and Research (A*Star) and the National University of Singapore (NUS), a manufacturing initiative, known as Pharma Innovation Program Singapore (PIPS). To advance manufacturing and engineering, the Singaporean government committed to investing US$2.4 billion (SGD$3.2 billion) for its 5-year Research, Innovation and Enterprise 2020 plan in the pharmaceutical market. The PIPS scheme was initiated to develop and continue manufacturing to improve active pharmaceutical ingredients and for exploring biocatalysis technologies to produce high-value complex chemicals more sustainably.

The government is promoting more, the use of generics and is expected to limit the growth in the market. International and domestic companies are going to take advantage of the number of innovation groups in the country. The country is attracting more foreign companies for investments and more than 30 MedTech companies in R&D and also hitting more pharmaceutical manufacturing plants. The local startups and multinational companies are the largest manufacturers and exporters across the world in medical equipment, such as syringes, catheters, research instruments and scientific analytical equipment, etc. Also, other manufacturing products of Singapore are 10% of global contact lenses, 70%+ of the world’s microarrays and 50% of global thermal cyclers and mass spectrometers. Further, Singapore boasts customised medical technology hubs such as MedTech, Biopolis and Tuas biomedical park.

Aslan Pharmaceuticals:

It is a clinical-stage oncology-focused biopharmaceutical company which develops novel therapeutics for global markets. Singapore-based company but also has offices in Taiwan and China. It is partnered with Array BioPharma, Bristol-Myers Squibb, Almirall and CSL. The company target the disease that is highly prevalent in Asia and orphan indications in Europe and the US. ASLAN ‘s portfolio consists of new patient segments, novel immune checkpoints and novel cancer metabolic pathways the four product developed by the company targeting validate growth pathways.

Tianjin Zhongxin Pharmaceutical:

This company is listed at both the SGX and the Shanghai Stock Exchange. The company produces and sells traditional products of Chinese medicines, western medicines, and health care primarily in China. Globally, many of its high-quality products have been exported to more than 30 countries; it has a nationwide marketing network. Tianjin Zhongxin Pharmaceutical companies’ 85 drugs have been listed in the National Basic Medicine Catalogue, 5 of the products have become state-protected Chinese medicines, 94 product varieties are exclusively produced by the Group and 216 products are now available in the national medical insurance service system.

Engine Biosciences:

It is a Singaporean startup which applies Artificial Learning to genomics for drug discovery to make it more efficient. It has also raised US$10 million lead by DHVC and 6 Dimensions Capital, Silicon Valley investors. Engine Biosciences use machine learning to understand genetic interactions which underlie diseases, to help scientist in developing said diseases new drugs to cure. In this technology-based startup, the rate of failure is high and investors hope this technology can help improve the success numbers. The team consists of a group of scientists, who are faculty at some of the premier universities and medical institutions in the United States, such as Harvard, the University of California San Diego, the Mayo Clinic and the Massachusetts Institute of Technology.

Challenges in the Pharmaceutical Industry:

Singapore’s pharmaceutical industry required more specialised skill sets now to undertake more innovative research projects as it is a leading biomedical hub in Asia. Government is supporting the specialised industry talent in their development by investing heavily in the sector. But still, there is a niche position that is lacking in suitable local manpower. For the future growth of the industry, it is a major challenge to attract and retain highly skilled employees. The challenge is the skills of the local talent pool have not caught up with the demands of companies. The potential loss is one of the biggest challenges for the pharmaceutical industry due to patent expiration. The consequence is these companies have started now investing more resources in replacing old drugs with new ones, investing in R&D.

Opportunities in the Pharmaceutical Industry for Singapore:

International pharmaceutical companies are continuing to leverage the hub status of Singapore to gain access to emerging market opportunities in Asia. Singapore has the required expertise to tackle the challenges faced by the industry, such as developed from the extensive investment put forward by the public and private sector in the country. The country is the hub to connect South East Asia and the Western world as the volume of trade flow for pharmaceutical products is suspiciously huge. Also, it is one of the major re-exporters of the industry.

The pharmaceutical industry of Singapore is regulated by the Health Sciences Authority (HSA) and the Health Products Act 2007 and carry out stringent approvals for cost-effective and efficient medical devices and other medical products. It is consist of all medical devices, pharmaceuticals, medicines and other supplements. More than 35-40% regional share of the pharmaceutical market is recorded to some of the major players of the market. The leading position in the industry is purely dedicated to the Singaporean government authorities as they provide a large number of investments in its research and development capabilities.

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IMAGES

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COMMENTS

Pharmaceutical industry in Singapore
Value added by the pharmaceutical industry Singapore 2014-2023. Value added by the pharmaceutical industry in Singapore from 2014 to 2023 (in billion Singapore dollars) Expected value added ...
Singapore Pharmaceutical Market Report
These pharmaceutical companies account for more than 35-40% share of Singapore's regional market. The leading position of Singapore pharmaceutical industry in medical innovation and production is also contributed to the Singaporean government authorities, as they provide large investments in its research and development capabilities.
Pharmaceuticals & Biotechnology
Human Health and Potential is one of the four strategic domains under the S$25 billion in funding that Singapore has committed to public sector research. As drug discovery and development models continue to evolve amid productivity challenges for in-house R&D, globally leading pharmaceutical companies such as Johnson & Johnson are establishing ...
Singapore Healthcare (Pharma and Medical Devices) Market Analysis
The Singapore pharmaceutical market size was $12.7 billion in 2021 and the medical devices market size is $3.5 billion in 2022. The Singapore Healthcare Market analysis report is an essential source of information on the analysis of the healthcare, regulatory, and reimbursement landscape in Singapore. It identifies the key trends in the country's healthcare market and provides insights into ...
Singapore Pharmaceutical Market Outlook: 2017-2030 (2020 Edition)
Market Size and Forecast (2017-2030) Singapore pharmaceutical market is anticipated to grow at a CAGR of 6.40% during the forecast period through 2030. Pharmaceutical manufacturing industry provides highest paying jobs which is increasing the employment in the country. In 2012, as per Singapore Economic Development Board (EDB), pharmaceutical ...
Singapore Healthcare Outlook Report, 2022
Figure 1 Pharmaceutical Market, Singapore, Supply Chain Figure 4 Market Access, Singapore, Overview of Healthcare System ... This product is a market research report. Each license type allows a set number of users to access the report. Please select an option from the list below.
Singapore Pharmaceuticals Market Summary ...
The Singaporean pharmaceuticals market had total revenues of $12.9 billion in 2022, representing a compound annual growth rate (CAGR) of 2.5% between 2017 and 2022. The Singaporean market acquired a 3% share of the Asia-Pacific pharmaceuticals market in 2022. Singapore, a leading biomedical and pharmaceutical hub in Asia, has been attracting ...
Report: Singapore's pharmaceutical market to witness 5% CAGR up to 2021
Singapore's pharmaceutical market is expected to increase from $903m in 2016 to $1.15bn in 2021 in value, representing a compound annual growth rate of approximately 5%, according to a report by GlobalData. Titled ' CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Singapore ', the report states universal access to ...
PharmaBoardroom
August 2021. With outstanding fundamentals, including top-class universities and hospitals, a government cognizant of the benefits that a robust research-based biopharma industry brings, and straightforward business processes, Singapore has long been a hub for life science companies looking to penetrate the vast Asia-Pacific region.
Pharmaceuticals in Singapore
The Singaporean pharmaceuticals market had total revenues of $1.2bn in 2020, representing a compound annual growth rate (CAGR) of 5.5% between 2016 and 2020. The Singaporean healthcare is one of the best in the world in terms of both efficiency and health outcome results and government healthcare expenditure has also been steadily on the rise ...
Singapore's Advanced Manufacturing Will Attract Greater Pharmaceutical
Pharmaceuticals / Singapore / Mon 05 Sep, 2022. Key View. Singapore will remain an attractive location for pharmaceutical manufacturing due to its business-friendly economy, combined with political stability and its geographical location in Asia Pacific. The pharmaceutical industry will remain an increasingly important component of Singapore ...
Singapore Pharmaceuticals Market Summary, Competitive Analysis and
Pharmaceuticals in Singapore industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Why Singapore is a top choice for biopharma firms seeking global
Singapore's biopharmaceutical exports have more than tripled over the past 20 years to S$19 billion (US$14.27 billion) in 2022, demonstrating the sector's robust growth. Singapore has more than 80 pharmaceutical and medical device manufacturing plants with a total of 24,000 employees. Its advanced technological infrastructure, highly ...
Singapore Pharmaceuticals Market Research Reports & Analysis page 1
Chemical Industry, Food Industry, and Others) - Opportunity Analysis and Industry Forecast, 2023-2030 Singapore Early Toxicity Testing Market was valued at USD 87.22 million in 2022, and is predicted to reach USD 166.12 million by ... Read More. Singapore Generics Market Summary, Competitive Analysis and Forecast to 2027
Singapore Pharmaceuticals Market (2024-2030)
The pharmaceuticals market in Singapore encompasses the manufacturing, distribution, and sale of pharmaceutical products, including prescription drugs and over-the-counter medicines. Market trends are shaped by healthcare policies, pharmaceutical research and development, and population health needs.
PDF Singapore: Production Value of Pharmaceuticals
Singapore: Pharmaceutical industry. Singapore's pharmaceutical industry is only about 2% of the scale of an established market like Japan (2021*). Despite the small market size, major pharmaceutical manufacturers are opening a series of research and development (R&D) centers as the government has positioned biomedical (pharmaceutical, medical ...
Singapore Pharmaceutical Market, Singapore ...
Report Overview. According to the research report, "Singapore Pharmaceutical Market Outlook to 2022 - by Prescription & OTC Drugs and by Patented & Generic Drugs" expresses that multinational corporations (MNCs) dominate the market, which is fragmented, with a strong emphasis on R&D operations. As of 2017, there were 54 pharmaceutical companies, and 5,500 medications were registered.
Singapore Association of Pharmaceutical Industries
This category is restricted to pharmaceutical companies involved directly in the marketing of pharmaceutical products in Singapore. Generally, these companies are research-based multinational companies involved in Research and Development of novel products, and registered to operate in Singapore. ASSOCIATE MEMBER:
Singapore Pharmaceuticals Market Summary, Competitive Analysis and
Pharmaceuticals in Singapore industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Key Highlights - The pharmaceuticals market ...
Singapore Biotechnology
The Singapore biotechnology market size was valued at $823.5 billion in 2021 according to Market Research Community and is expected to grow 8.0% yearly. At present, there are 52 biotech companies, and the number of biotech companies is forecasted to increase to 84 firms by 2032.
Singapore Pharmaceutical Market, Singapore ...
Market Overview. Singapore Pharmaceutical Market can be permeated by the availability of best-in-class infrastructure, integrated hubs for pharmaceutical manufacture and research, access to regional markets, and trained labor. The income of the Singapore pharmaceutical market increased between the period of 2012 and 2017.
Singaporean Pharmaceutical Industry to Reach US ...
The pharmaceutical industry has seen significant changes over the time US $645 million in 2009 to the US $903 million in 2016 at a Compound Annual Growth Rate (CAGR) of 5% and expected to reach the US $1,148 million in 2021 at a CAGR of 5%. Pharmaceutical Industry Developing Indigenous Manufacturing in Singapore:

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August 2021

Legal & Regulatory

Choong May Ling, Mimi – CEO, Health Sciences Authority (HSA), Singapore

Ng Huck Hui – Assistant Chief Executive, Biomedical Research Council, Agency for Science, Technology and Research (A*STAR), Singapore

Harjit Gill – CEO, APACMed

Ashish D Pal – Managing Director, MSD Singapore, Malaysia & Brunei Cluster; President, Singapore Association of Pharmaceutical Industries (SAPI); Vice-President, Pharmaceutical Association of Malaysia (PhAMA)

Marine Queniart-Stojanovic – GM General Medicines Thailand, Malaysia & Singapore, Sanofi

Ai Li Siow – Managing Director, Siemens Healthineers Singapore

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Not All Imports Consumed Locally

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Singapore Pharmaceuticals

2023-2028 Singapore Hematology and Flow Cytometry Analyzers and Reagents Market - 2023 Supplier Shares, 2023-2028 Test Volume and Sales Segment Forecasts for over 40 Individual Tests, Growth Opportunities - Competitive Strategies, Instrumentation Pipeline

Consumer Health in Singapore

Dermatologicals in Singapore