Market Research Reports - Ken Research CRO Market Regulations Singapore

Singapore Pharmaceutical Market is driven by Public Private Partnerships in R&D and
Expansion of Multinational Companies in Local Market: Ken Research
World Class manufacturing facilities, skilled workforce, expansion of product portfolio by major
pharmaceutical companies, government grants and tax incentives were the key factors driving
growth in 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. The government has invested in forming
competitive clusters to attract research, clinical trials, and manufacturing companies in the
pharmaceutical sector. This includes developing infrastructure such as Biopolis, and the Tuas
Biomedical Park, tax breaks and business incentives and funding of public-sector research
institutes.
Research and Development forms an essential part of the pharmaceutical industry. Various
multinational companies have been involved in private-public partnerships in Singapore,
particularly with R&D and clinical trials. The Contract Research Organization (CRO) market in
Asia grew at a rate of 20% in 2017, with Singapore’s A*STAR leading some of the clinical
growth. Few established R&D partnerships in Singapore include Roche’s (Basel, Switzerland)
Singapore Hub for Translational Medicine, GlaxoSmithKline’s (Brentford, UK) Academic Centre
of Excellence, and Bayer Healthcare’s (Leverkusen, Germany) partnership with the Singapore
National Eye Center (SNEC).
Singapore currently hosts more than 50 international biomedical science companies, including
GlaxoSmithKline, Takeda, Pfizer, Novartis and Roche. As a result of Singapore’s robust
infrastructure, intellectual property (IP) protection, access to regional markets and skilled
workforce, many leading biomedical companies have selected Singapore as their global
manufacturing base for a wide range of products including Active Pharmaceutical Ingredients,
drug products and biologics drug substances.
Singapore pharmaceutical market will continue to incline at a positive growth rate owing to
increased investment in biopharmaceutical manufacturing, and growing Contract Research
Organization market
The report titled “Singapore Pharmaceutical Market Outlook to 2022 - by Prescription & OTC
Drugs and by Patented & Generic Drugs” by Ken Research suggested a growth at a CAGR of
6.8% in revenue in Singapore Pharmaceutical Market by 2022. Singapore Pharmaceutical
market can be characterized by the presence of best-in-class infrastructure, integrated and
advanced hubs for pharmaceutical manufacturing and research & access to regional markets