According to Goldstein Research, “Singapore’s advanced infrastructure, political stability, strong intellectual property law and acceptability towards advance technology offers plentiful advantages to pharmaceutical industry of the country. Singapore pharmaceutical industries are adopting robotic based technology for physical therapy and surgeries which is gaining immense popularity across the world. Many foreign pharmaceutical companies are investing in R&D to develop innovative pharmaceutical solutions in Singapore.”
Singapore pharmaceutical market is segmented on the basis of products and by therapeutics. Therapeutics segment is further categorized into cardiovascular diseases, diabetes, respiratory diseases, infectious diseases, oncology diseases, central nervous system disorders (CNS) disorders, gastrointestinal, other diseases (dermatology, rheumatology). Cardiovascular and infectious diseases occupies largest share of Singapore pharmaceutical market followed by oncology and respiratory diseases. Cardiovascular diseases accounted for 25% share of Singapore pharmaceutical market in 2016, and is projected register robust growth during the forecast period. Rising prevalence of gastrointestinal problems and diabetes is expected to increase the demand for therapeutics in Singapore over the forecast period.
Advance healthcare system of Singapore is gaining foreign patient attraction
Singapore is not only attracting regional patients but also gaining attraction from patient’s worldwide owing to its advanced medical facility. Patients from countries such as Malaysia, Indonesia, Mongolia, India, Vietnam, Brunei, Thailand and even Middle East prefer coming to Singapore for complex surgeries or treatment of chronic health conditions such as cancer, heart disease, and viral diseases. Singapore provides best medication and treatment for serious health problems attracting large number of patients globally. This is likely to strengthen pharmaceutical industry of the country.
“Singapore Pharmaceutical Market Outlook 2024” contains detailed overview of the Singapore pharmaceutical market in terms of market segmentation by products and by therapeutics.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Sacle) analysis, Porter’s five force model and SWOT analysis.
Singapore pharmaceutical market also provides competitive outlook of some of the major players of Singapore pharmaceutical market which includes profiling of companies such as Novartis International AG, GlaxoSmithKline (GSK), Abbot Laboratories, Lonza, Merck Sharp & Dohme, Takeda, Roche Holding AG, Pfizer Inc., Raffles Medical Group Ltd., Wave Life Sciences, Sphaera Pharma, Special Access Pharma, Pharmaskin, NCI Health and Melbourne Drugs. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the Singapore pharmaceutical market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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