Singapore Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

Singapore Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

Summary

GlobalData, the industry analysis specialist, has released its latest report “Singapore Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape”. The report is an essential source of information on analysis of the healthcare, regulatory and reimbursement landscape in Singapore. It identifies the key trends in the country’s healthcare market and provides insights into its demographic, regulatory and reimbursement landscape, and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It uses data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts.

Singapore’s pharmaceutical industry is paving its way to develop into a global manufacturing hub with its highly skilled biomedical workers, excellent infrastructure, promising government policies, and significant R&D spending, among others. Singapore’s pharmaceutical market, based on manufacturing output, increased from Singapore Dollars (SGD) 15.8 billion in 2014 to SGD17.6 billion in 2021 at a Compound Annual Growth Rate (CAGR) of 1.5%. In terms of US Dollars, the market increased from $11.4 billion in 2014 to $12.7 billion in 2021 at a CAGR of 1.5%. It is forecast to reach about $13.9 billion in 2027. Singapore is a key hub for manufacturing a range of advanced medical technologies for global markets, including implanted pacemakers, contact lenses, and life science equipment. The medical devices market of Singapore was valued at $2.6 billion in 2016, which is expected to increase to $3.5 billion in 2022 at a CAGR of 5.2%. In April 2021, France-based Sanofi announced an investment worth $473 million over the span of five years to establish an innovative vaccine manufacturing site in Singapore. The new facility will work in collaboration with the Singapore Economic Development Board to primarily serve Asia and boost the region’s existing production capacity in Europe and North America.

Scope

• The report provides information on the healthcare, regulatory, and reimbursement landscape in Singapore, and includes:
• An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
• Profiles and SWOT analyses of the major players in the pharmaceutical market: Sanofi, GlaxoSmithKline (GSK), Boehringer Ingelheim, Astellas, and iX Biopharma.
• Profiles and SWOT analyses of the major players in the medical device market: Abbott, Fresenius, Alcon, Nipro, and Biolidics.
• An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in healthcare market, HealthTech landscape, reimbursement and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices.
• Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure and healthcare expenditure.
• An overview of the opportunities for and challenges to growth in the Singapore healthcare market.

• Develop business strategies by understanding the trends shaping and driving the Singapore healthcare market
• Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact the Singapore healthcare market in the future
• Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance
• Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership