•
Singapore
Pharmaceutical Market engages
over 50 top global biomedical science firms and 30 public research institutes
which aim to create a biomedical ecosystem that concentrates infrastructure and
technology
•
Singapore has
developed 2 biomedical hubs namely Biopolis and Tuas Biomedical Park which
facilitate the cooperation between public sector research centers with private
labs and pharmaceutical manufacturing and production.
•
The market is
fragmented with multinational companies dominating the space with major focus
on research & development activities. Major multinational companies include
GSK, Novartis, Roche, Pfizer, Bayer, AstraZeneca, Abbott, Baxter, Maccine and
others.
Singapore
Pharmaceutical Industry will be led
by increased investment in biopharmaceutical manufacturing and growing research
& development activities in the space. 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.
Further, Zuellig Pharma who launched its first innovation centre, Zuellig
Health Solutions (ZHS), in Singapore in 2017, plans to invest over SGD 50
million over the next five years. Mundipharma plans to start commercial
production of antiseptics at its new plant in Singapore in 2019. Apart from
innovation in modern medicine, increased demand for pharmaceutical drugs in
Asia, which is driven by growing middle class and an ageing population, has
increased the market demand for non-essential and therapeutic treatments. The
demand for dietary supplements will increase in order to fulfill the nutrition
requirement of the people in their busy lifestyle. Due to the prevalence of
chronic diseases such as diabetes, heart diseases and others and aging
population, revenue from the prescription drugs will continue to occupy the
larger share.
The
ongoing success of large pharmaceutical companies and increase in
biopharmaceutical startups across the country is creating a growing number of
new pharma job opportunities in Singapore. Big global drug makers ramp up
output and advance automation at their production sites across the country. The
opening of new sites such as AbbVie’s biologics manufacturing facility and the
ramp up of others including Amgen and Novartis will augment the manufacturing
activities of these firms.
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 Emerging Contract Research
Organization market, increasing number of mergers & acquisitions coupled
with elevating prevalence of chronic and lifestyle diseases will propel Singapore
pharmaceutical market revenue in future.
Ken
Research in its latest study, “Singapore
Pharmaceutical Market Outlook to 2022 - by Prescription & OTC Drugs and by
Patented & Generic Drugs”,
suggests that demand for pharmaceutical products in the market will continue to
grow in Singapore owing to growing public-private partnerships in R&D and
clinical trials and expansion of multinational companies in the space.
Key Topics Covered in the Report:
Pharmaceutical
Market Size Singapore
OTC
Drugs Market Singapore
Prescription
Drugs Market Singapore
Patented
Drugs Market Singapore
Generics
Drug Market Singapore
Singapore
Pharmaceutical Industry
Regulations
Medicine Market Singapore
New
Drug Approvals in Singapore
Value
Chain Pharmaceutical Singapore
Competition
Singapore Pharmaceutical
Pharmaceutical
Manufacturers Singapore
Singapore
Pharmaceutical Future
Forecast
Revenue Pharmaceutical Singapore
Contract
Research Organization Market Singapore
Number
of Clinical Trials Singapore
Vitamins
and Dietary Supplements Market Singapore
Vitamin
Dietary Supplements Market Singapore
CRO
Market Regulations Singapore
CRO
Market Growth Singapore
Singapore
Biopharmaceutical Market
Number
of Pharmaceutical Companies Singapore
For more information on the research
report, refer to below link:
Products Covered
Prescribed
Drugs, OTC Drugs, Biopharmaceuticals, Generic Drugs, Branded Medicine, Vitamin
and Dietary Supplements, Drug approvals, Drug Pipeline
Companies Covered:
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
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.
Contact Us:
Ken
Research
Ankur
Gupta, Head Marketing & Communications
0124-4230204