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Singapore Pharmaceutical Industry Report - 2015

  • September 2015
  • -
  • Emerging Markets Direct Media Holdings
  • -
  • 31 pages

Summary

Table of Contents

This report profiles Singapore's pharmaceutical industry, discussing market trends through 2014 and outlook for 2015 and beyond. The report also highlights leading players in the sector including Star Pharmaceuticals Limited, Haw Par Corp Limited and Pharmesis International Limited.



Singapore has successfully established a strong healthcare infrastructure ranked amongst the best in the world. The country has also become a major pharmaceutical trading hub of Southeast Asia. It is for this reason that more than 30 leading pharmaceutical and biomedical science companies have established regional headquarters in Singapore. The country is also the preferred site for the manufacturing base of leading multinational pharmaceutical companies.



Pharmaceutical manufacturing has been one of the major contributors to the overall growth of the domestic manufacturing industry in recent years. A substantive portion of total pharmaceuticals output were re-exported Singapore. But, the value of output and exports has declined during the last two years owing to uncertain global economic environment.



The outlook for Singapore pharmaceuticals is positive owing to the availability of skilled manpower, the presence of leading research institutions, a proactive government, relaxed regulatory environment, intellectual property protection and state of the art infrastructure. In addition, its strategic geographic location is bound to attract multinational companies which will establish their base in Singapore in the years to come.



Key Points:



o Total manufacturing output of the pharmaceuticals sector grew at a CAGR of 6% during 2009-12. However, it saw a steep decline in 2013, followed by another decline in 2014.



o The domestic manufacturing sector had a capital expenditure of SGD 14.5bn in 2013. Pharmaceuticals accounted for 2% of the total capital expenditure. Most of the investment made was for the establishment of research and development laboratories.



o Pharmaceutical exports accounted for 3% of the total non-oil domestic exports in 2014. Pharmaceutical exports grew at a CAGR of 13% during 2008-12. It contracted by 13% in FY13, but revived slightly in FY14 growing by 4% y/y.

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