This report provides an overview of the medical technologies sector in Singapore. The Singaporean government strongly fosters the medical sector, and has helped the country to become a medtech manufacturing and R&D hub. From 2000 to 2015, Singapore’s medtech manufacturing nominal value added grew from SGD 0.8 billion, or 0.6% of GDP to SGD 3.5 billion. The country is aiming for SGD 5 billion in manufacturing output.
Having the most established public healthcare system, along with strong intellectual property protection, existing research infrastructure and an educated workforce, Singapore has attracted a number of global medical technologies companies, such as AB SCIEX, Baxter International, Becton Dickinson, BIOTRONIK, Hoya Surgical Optics, Life Technologies, Medtronic, Sivantos, Alcon and Hill-Rom. It has become a key base for foreign medical device companies looking to establish a foothold in the region.
Singapore punches above its weight in terms of the volume of imports and exports of medical devices, which are very large, and disproportionate to its domestic market size. This is because it is a strategic location connecting East and West. A large proportion of its imports are re-exported to South East Asia. 90% of local production is also destined for export. Production in, or commerce with Singapore gives one access to Singapore’s established trade relations and local regional trading capability
The report starts with a short profile of Singapore, then goes on to provide a descriptive analysis of Singapore’s healthcare sector, from the healthcare trends shaping the market, to the healthcare infrastructure, as well as the role played by its government. Next to this more general introduction, the key characteristics of the medical technologies sector are presented, with a special focus on assistive technologies and ICT. We hope the report offers you a fresh perspective on the current landscape influencing the medical technologies sector in Singapore, and the range of opportunities it offers.
The report is designed to provide comprehensive and well-structured information to help a company understand the opportunities in the market, and offers a wide range of data and information collected from various sources that were built together in order to give a deeper insight into the industry.
Orissa International regularly undertakes market research projects in various sectors in South East Asia, for trade promotion agencies and individual companies. With more than 20 years’ experience of helping companies with their market entry into South East Asia, our in-country research teams have acquired extensive and practical hands-on specialist industry knowledge.
Research in each country is undertaken by an in-market analyst. Our physical presence in the market gives us an ability to engage directly with local industry contacts, keep track of commercial opportunities in the market, and monitor the latest market trends and industry events that impact the market.
We undertake desk research to gather as much secondary data and information from a variety of credible sources. These include our proprietary distributor databases, specialist trade press, business and mainstream press, industry news and events, market studies, financial reports, trade associations, as well as company profiles, publications, and annual reports. Orissa International applies various processes and a series of quality checks to validate data and information to ensure the quality, completeness and accuracy of our reports.
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