openPR Logo
Press release

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

01-13-2020 02:05 PM CET | Health & Medicine

Press release from: Ken Research

Singapore Pharmaceutical Market is Expected to Reach USD 1.8

• 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.

For more information on the research report, refer to below link:
https://www.kenresearch.com/healthcare/pharmaceuticals/singapore-pharmaceutical-market/149668-91.html

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:
https://www.kenresearch.com/healthcare/pharmaceuticals/vietnam-pharmaceutical-market/143605-91.html
Currently all patented drugs are imported for local consumption. Widely imported patented drugs include high-value specialty drugs for oncology and diabetes management.

https://www.kenresearch.ae/healthcare/pharmaceuticals/indonesia-pharmaceutical-market/143542-91.html
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
Ankur@kenresearch.com
+91-9015378249

Ken Research Pvt. Ltd.,
Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49 Gurgaon, Haryana - 122001, India

Ken Research is a Global aggregator and publisher of Market intelligence, equity and economy reports. We provides business intelligence and operational advisory in 300+ verticals underscoring disruptive technologies, emerging business models with precedent analysis and success case studies.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Singapore Pharmaceutical Market is Expected to Reach USD 1.8 Billion by 2022: Ken Research here

News-ID: 1894950 • Views: 532

More Releases from Ken Research

Is there an entry space for a Soda Ash Manufacturer in Indonesia: Ken Research
Country Outlook Indonesia, being one of the highest South-East Asian economies is highly dependent on imports for most of its industrial products. Being devoid of any soda ash manufacturing plant, Indonesia is ranked 3rd worldwide for soda ash imports to meet the requirements for rapidly growing local end-user industries. Positives and Negatives Setup of Soda Ash the manufacturing plant will meet the End User Industry consumption requirements in Indonesia and other southeast Asian
Acquisitions and Expansion Activities by Major Players, Introduction of Technolo …
Leading players such as Healthcare at Home are investing heavily in digitizing their business model starting from booking an appointment to monitoring patient's vitals & managing the case on a real time basis. The number of remotely monitored patients in 2016 was estimated to be around 7.1 million and is forecasted to reach approximately 50.2 million by the year ending 2021. Few major players such as Right at Home and Home Instead
How the Face of Cold Chain Industry in Philippines is Changing with Evolvement o …
It was in 2002 when the Philippines cold chain the business really picked up the momentum; And despite the industry accounting only 0.08% of the total GDP in 2019, the demand for cold storage and transport services has been growing year-on-year. Foundations of cold chain industry of the Philippines date back to the 1980s when high average annual temperature ranging from 21C to 32C augmented the demand for low-temperature control
India Waterproofing Industry Growth will be driven by Adoption of Modern Constru …
Rising awareness and acceptance of waterproofing products in retail market by house owners to drive positive growth in India. Pipeline of 41 skyscraper projects including residential and commercial building will provide boost high-end waterproofing products. Growing technology and fast paced construction, liquid waterproofing products are expected to higher market share compared sheet waterproofing membrane due to ease of application and cost effectiveness. Effect on Emergence of Paint Manufacturers in Waterproofing Market: Entry of

All 5 Releases


More Releases for Singapore

ITIL Singapore
ITIL Singapore Certification Training at Vinsys. Get ITIL Training with EXIN & PeopleCert Accredited ITIL Certification Training with IT Tactic of Business Vision ITIL Singapore. ITIL Foundation Singapore is the most widely recognized entrance-level ITIL certification for IT professionals. IT departments need qualified specialists who can carry effective IT services. This ITIL Singapore training will show you the ITIL Singapore services lifecycle, how lifecycle steps are linked, processes elaborate, and finest
Baby Food in Singapore
The Singaporean baby food market is small in terms of total size, but highly developed in terms of per capita consumption. The fluctuations in the number of births have a clear effect on sales. In value terms, almost 90% of the market consists of baby milks, with the bulk of the remainder split between baby meals/drinks and baby cereals in 2015. In volume terms, milk accounts for 76.9%, wet meals
Jewellery Market in Singapore
Summary This report helps to analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Jewellery in Singapore Description Consumers in Singapore are becoming more adventurous and are increasingly opting for exclusive and unique designs to differentiate themselves. For example, there is growing demand for non-diamond engagement rings in Singapore, with home-grown label Carrie K witnessing a 15% boost in sales for
Hosiery in Singapore
Orbis Research delivers key insights on the Hosiery market in a new report titled “Hosiery in Singapore” In this report, Orbis Research sheds light on the various factors and trends impacting market growth over the forecast period. Hosiery in Singapore is an accessory, not a daily necessity, due to the hot and humid climate. Therefore its growth largely depends on fashion trends, particularly men’s desire to accessorise with the colourful addition
WBLCA & Technology Seminar Singapore
Just as technology has reshaped how individuals communicate and how organizations do business, it also having a profound impact on the practice of law. Technological developments are affecting management strategies in corporate legal departments, and changing how legal services are delivered. Venue: Singapore (Hotel Mandarin) Date: 15 May 2016 Registration: 8.15am to 9.00am (Singapore Time) Event: 9.00am to 5.00pm WBLCA & Technology Seminar examines both the: (a) legal challenges (b) opportunities
Avolution Opens Singapore Office
Avolution, developer and supplier of software solutions for enterprise modeling, planning and IT strategy, announced today that it has opened a South East Asian office in Singapore. The announcement follows strong growth throughout 2014, which is projected to increase further over the next twelve months. “South East Asia continues to be a strong region for Avolution,” said Mark Denford, Asia-Pacific Manager, “and Singapore is at the centre of this growth. Singaporean government