Prescription Drugs Market Singapore, Patented Drugs Market - Ken Research

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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.
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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, Japans Chugai
Pharmaceutical, which operates satellite labs
throughout Asia, has plans to invest USD 355
million by 2021, to accelerate its research and
development (RD) 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.
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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 AbbVies 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.
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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 RD and clinical
trials and expansion of multinational companies
in the space. Key Topics Covered in the Report
Pharmaceutical Market Size Singapore OTC Drugs
Market Singapore Prescription Drugs Market
Singapore Patented Drugs Market
Singapore Generics Drug Market Singapore Singapore
Pharmaceutical Industry Regulations Medicine
Market Singapore New Drug Approvals in
Singapore Value Chain Pharmaceutical
Singapore Competition Singapore Pharmaceutical
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Pharmaceutical Manufacturers Singapore Singapore
Pharmaceutical Future Forecast Revenue
Pharmaceutical Singapore Contract Research
Organization Market Singapore Number of Clinical
Trials Singapore Vitamins and Dietary Supplements
Market Singapore Vitamin Dietary Supplements
Market Singapore CRO Market Regulations
Singapore CRO Market Growth Singapore Singapore
Biopharmaceutical Market Number of Pharmaceutical
Companies Singapore For more information on the
research report, refer to below
link https//www.kenresearch.com/healthcare/pharm
aceuticals/singapore-pharmaceutical-market/149668-
91.html
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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
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Related Reports by Ken Research https//www.kenres
earch.com/healthcare/pharmaceuticals/vietnam-pharm
aceutical-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.
com/healthcare/pharmaceuticals/indonesia-pharmaceu
tical-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 sales_at_kenre
search.com 0124-4230204