New market study, "Singapore Pharmaceuticals & Healthcare Report Q2 2015", has been published
Recently published research from Business Monitor International, "Singapore Pharmaceuticals & Healthcare Report Q2 2015", is now available at Fast Market Research
[USPRwire, Tue Feb 17 2015] Singapore will remain a highly attractive manufacturing base for international pharmaceutical companies due to minimal levels of operational risks and the government's support for the industry. The pharmaceutical industry has been a key pillar of the country's economy and we believe its importance will continue to grow as traditional drivers such as electronic manufacturing slow.
Headline Expenditure Projections
* Pharmaceuticals : SGD1.041bn (USD822mn) in 2014 to SGD1.097bn (USD836mn) by 2015; +5.4% in local currency terms and +1.7% in USD terms.
* Healthcare: SGD19.31bn (USD15.24bn) in 2014 to SGD20.97bn (USD15.97bn) by 2015; +8.6% in local currency terms and +4.8% in USD terms.
Risk/Reward Index
Singapore is ranked eighth out of 19 other Asia Pacific markets (scoring 62.1 out of a maximum 100) on BMI's Pharmaceutical Risk/Reward Index for Q215. The country's above average score on country rewards (scoring 16.8 out of 21.0) with the highest score for risk (28.1 out of 35) in the region is weighed down by the limited industry rewards (17.2 out of 44.0) due to the country's small population.
* In November 2014, the Ministry of Health is seeking feedback on a new Human Biomedical Research Bill that will formalise standards for biomedical research. Some of the research that will be covered include tissue graphs, new surgical techniques and diagnostic imaging.
* In December 2014, the Singapore Eye Research Institute (SERI) and Singapore Chung Hwa Medical Institution are partnering for an upcoming clinical trial which will consider the effectiveness of Traditional Chinese Medicine in alleviating dry eye symptoms. The study will involve 150 patients, aged 40 to 85.
* In January 2015, the Singapore Parliament passed the MediShield Life Scheme Bill which will provide universal insurance coverage for all Singaporeans. In the first year, all citizens will receive a 90% subsidy on the net increase in premium for the first year and a...
The Singapore Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.
BMI's Singapore Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Singapore pharmaceutical and healthcare industry.
Key Benefits
* Benchmark BMI's pharmaceutical and healthcare market forecasts for Singapore, to test other views - a key input for successful budgeting and strategic business planning in the Singaporean pharmaceutical and healthcare market.
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