Market Research Reports - Ken Research Value Chain Pharmaceutical Singapore

Singapore Pharmaceutical Market is expected to Reach USD 1.8 Billion by 2022: Ken Research
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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