The
report titled “Singapore
Pharmaceutical Market Outlook to 2022 - by Prescription & OTC Drugs and by
Patented & Generic Drugs” covers aspects such as pharmaceutical
market segment (by Prescription & OTC Drugs, by Patented & Generic
Drugs), competitive landscape of major players in the Singapore pharmaceutical
market including Haw Par Corporation, Beacon Pharmaceuticals, GSK, Singapore,
Roche, Singapore, AstraZeneca, Singapore, Lonza, Singapore, Baxter, Singapore,
Abbott, Singapore, MSD, Singapore, Sunward Pharmaceutical, Poli Medical, Union
Chemicals and Pharmaceuticals Pte Ltd, Schwabe Pharma Asia Pacific Pte Ltd, and
Chemical Company of Malaysia Berhad,. The report concludes with market
projection for future and analyst recommendations highlighting the major
opportunities and cautions.
Singapore Pharmaceutical Market
Singapore
Pharmaceutical market can be characterized by the presence of best-in-class
infrastructure, integrated and advanced hubs for pharmaceutical manufacturing
and research and access to regional markets and skilled workforce. Singapore
Pharmaceutical market has registered an increase in the revenue during the
period 2012-2017. Many leading biomedical companies such as AbbVie, Pfizer,
Ferring Pharmaceuticals and others have selected Singapore as their global
manufacturing base. Singapore pharmaceutical market has increased at a single
digit CAGR during 2012-2017. Singapore has emerged as one of the most
integrated and advanced hubs for pharmaceutical manufacturing and research in
Southeast Asia. Singapore has developed 2 biomedical hubs namely Biopolis and
Tuas Biomedical Park. Biopolis facilitates the cooperation between public
sector research centers with private labs whereas the Tuas Biomedical Park is
dedicated primarily to pharmaceutical manufacturing and production.
Singapore Pharmaceutical Market
Segmentation
By
Prescription & OTC Drugs: Prescription drugs have accounted for largest
share of the revenue in Singapore pharmaceutical market in 2017. OTC drugs have
accounted for the remaining share of the revenue. The growth in prescription
drugs can be attributed to prevalence of chronic diseases such as diabetes,
cancer and others have further driven prescription drugs sale. Sale of OTC
drugs has been on an incline owing to rise in trend of self-medication in
Singapore. Majority of antibiotics are sold via OTC channel. Vitamins and
dietary supplements are one of the fastest growing segments of OTC
By
Patented & Generic Drugs: Patented drugs have accounted for largest share
of the revenue in Singapore prescription drugs market in 2017. Generic drugs
have accounted for the remaining share in terms of revenues. The presence of
secure IP protection has encouraged international companies to set up
manufacturing facilities and gain patent rights for their drugs, API and
production process. Further, it is supported by the availability of modern
infrastructure and large investment in research activities. These include drugs
for infectious diseases and oncology.
Singapore Over-The-Counter Drugs Market
Singapore
OTC market increased at a double digit CAGR during 2012-2017. The market is
driven by increasing number of people taking self-medication. Further,
increased focus on R&D efforts has led to better focus on the advancement
of innovative over-the-counter and consumer health drugs. Major therapeutic
segments include antibiotics, analgesics and antacids. Since these medicines do
not require a prescription, the manufacturers are also able to sell them
through online retail channels. Leading companies in the OTC market include
GlaxoSmithKline Plc, Reckitt Benckiser Group Plc (RB), Ricola AG, Lofthouse of
Fleetwood Ltd, Haw Par Corp Ltd and Valeant Pharmaceuticals International Inc
Singapore Pharmaceutical Market
Competition Overview
The
market is fragmented with multinational companies dominating the space with
major focus on research & development activities. There are 54
pharmaceutical manufacturers and 5,500 registered medicines as of 2017. Major
multinational companies include GSK, Novartis, Roche, Pfizer, Bayer,
AstraZeneca, Abbott, Baxter, Maccine and others. The pharmaceutical market has
witnessed increasing advancement of innovative over-the-counter, generic,
prescription and consumer health drugs. Major competition parameters include
product range, distribution network, technology, investment in R&D
Singapore Pharmaceutical Market Future
Potential
Singapore
pharmaceutical market is expected to grow at a single digit CAGR during
2017-2018 driven by universal access to health insurance and world-class
biomedical research facilities.
The
best in class research and manufacturing infrastructure will continue to
attract foreign investment in the country. For instance, Japan’s Chugai
Pharmaceutical, which operates satellite labs throughout Asia, has plans to
invest USD 355 million by 2021, to accelerate its research and development
(R&D) capabilities in Singapore. The industry will witness a rise in
development of technology to support automation and increase productivity. For
instance, GSK has been pioneering a technology called continuous manufacturing
where instead of making products in batches, materials are constantly added and
products removed. Big global drug makers ramp up output and advance automation
at their production sites across the country.
Key Topics Covered in the Report:
·
Singapore
Pharmaceutical Market Size, 2012-2017
·
Singapore
Pharmaceutical Market Segmentation (by Prescription & OTC Drugs, by
Patented & Generic Drugs)
·
Singapore
Over-The-Counter Market Size
·
Trends and
Developments in Singapore Pharmaceutical Market
·
Issues and
Challenges in Singapore Pharmaceutical Market
·
Government
Initiatives, Rules and Regulations in Singapore Pharmaceutical Market
·
Singapore
Pharmaceutical Market Competitive Landscape
·
Singapore
Pharmaceutical Future Outlook and Projections, 2018-2022
·
Value Chain in
Singapore Pharmaceutical Industry
·
Analyst
Recommendations
For more information on the research
report, refer to below link:
Related Reports by Ken Research
Currently all patented drugs are
imported for local consumption. Widely imported patented drugs include
high-value specialty drugs for oncology and diabetes management.
Majority pharmaceutical companies are
located in West Java and Jakarta due to favorable tax incentives, well
developed infrastructure and greater access to medicinal herbs.
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