Lessons from Singapore's Success

The Biomedical Sciences industry, which comprises the biopharmaceutical and medical technology sectors, is a key contributor to Singapore’s economy.

- 

In 2022, the industry accounted for 2.3 per cent of Singapore’s Gross Domestic Product and manufactured close to S$39 billion worth of products for the global market. Singapore’s pro-business environment, skilled talent, strong manufacturing capabilities and thriving research ecosystem have drawn global biopharmaceutical and medical technology firms here. These companies have significant innovation, manufacturing, and commercial presence in Singapore to serve global patients.

Biopharmaceutical manufacturing hub

Singapore hosts best-in-class manufacturing facilities from seven out of the top 10 pharmaceutical companies. In 2022, the biopharmaceutical sector produced more than S$19 billion worth of products for global markets - a threefold increase over the past 20 years. There are over 60 biopharmaceutical manufacturing facilities in Singapore across diverse modalities – from Active Pharmaceutical Ingredients to Biologics (Therapeutics and Vaccines) and Cell Therapies. These facilities hire more than 9,000 workers, 70 per cent growth over the past 10 years.