Singapore Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape

Report
175 Pages
July 2022
Region: Singapore
GlobalData
ID: 5646750

The publisher, the industry analysis specialist, has released its latest report “Singapore Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape”. The report is an essential source of information on analysis of the healthcare, regulatory and reimbursement landscape in Singapore. It identifies the key trends in the country's healthcare market and provides insights into its demographic, regulatory and reimbursement landscape, and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It uses data and information sourced from proprietary databases, secondary research, and in-house analysis by the publisher's team of industry experts.

Singapore's pharmaceutical industry is paving its way to develop into a global manufacturing hub with its highly skilled biomedical workers, excellent infrastructure, promising government policies, and significant R&D spending, among others. Singapore's pharmaceutical market, based on manufacturing output, increased from Singapore Dollars (SGD) 15.8 billion in 2014 to SGD17.6 billion in 2021 at a Compound Annual Growth Rate (CAGR) of 1.5%. In terms of US Dollars, the market increased from $11.4 billion in 2014 to $12.7 billion in 2021 at a CAGR of 1.5%. It is forecast to reach about $13.9 billion in 2027. Singapore is a key hub for manufacturing a range of advanced medical technologies for global markets, including implanted pacemakers, contact lenses, and life science equipment. The medical devices market of Singapore was valued at $2.6 billion in 2016, which is expected to increase to $3.5 billion in 2022 at a CAGR of 5.2%. In April 2021, France-based Sanofi announced an investment worth $473 million over the span of five years to establish an innovative vaccine manufacturing site in Singapore. The new facility will work in collaboration with the Singapore Economic Development Board to primarily serve Asia and boost the region's existing production capacity in Europe and North America.

Scope

The report provides information on the healthcare, regulatory, and reimbursement landscape in Singapore, and includes:
An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
Profiles and SWOT analyses of the major players in the pharmaceutical market: Sanofi, GlaxoSmithKline (GSK), Boehringer Ingelheim, Astellas, and iX Biopharma.
Profiles and SWOT analyses of the major players in the medical device market: Abbott, Fresenius, Alcon, Nipro, and Biolidics.
An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in healthcare market, HealthTech landscape, reimbursement and regulatory landscape, with analysis covering details of the country's healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices.
Detailed analysis of the country's healthcare policy highlights, demographics, healthcare infrastructure and healthcare expenditure.
An overview of the opportunities for and challenges to growth in the Singapore healthcare market.

Reasons to Buy

This report will enhance your decision-making capability by allowing you to:

Develop business strategies by understanding the trends shaping and driving the Singapore healthcare market
Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact the Singapore healthcare market in the future
Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors' performance
Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership

1. Table of Contents

1.1 List of Figures
1.2 List of Tables

2. Executive Summary

2.1 Executive Summary
2.2 Key Highlights: Facts About the Singapore Healthcare Market
2.3 Key Highlights: Healthcare Startups in Singapore
2.4 Key Events: Singapore Healthcare Timeline, 2016-22
2.5 Key Events: Singapore Pharmaceutical Market
2.6 Key Events: M&As, VC & PE Deals, Global Pharmaceutical Market, 2021-22
2.7 Key Events: Mergers and Acquisitions
2.8 Country Profile, Singapore, 2021

3. Overview of Pharmaceutical Market

3.1 Pharmaceutical Market - Overview
3.2 Pharmaceutical Market - Exports
3.3 Pharmaceutical Market - Imports
3.4 Pharmaceutical Market - Supply Channels, Singapore
3.5 Pharmaceutical Market - Medical Tourism, Singapore
3.6 Pharmaceutical Market - Market Segments
3.7 Pharmaceutical Market - Market Segments, Generics, Singapore
3.8 Pharmaceutical Market - Market Segments, Biologics and Biosimilars, Singapore
3.9 Pharmaceutical Market - Market Segment, Over-the-Counter Medicines, Singapore
3.10 COVID-19 Epidemiology, Singapore
3.11 COVID-19 Impact and Developments in the Healthcare Market, Singapore
3.12 COVID-19 Clinical Trials Landscape, Singapore
3.13 Pharmaceutical Market - Major Players

4. Overview of Medical Devices Market

4.1 Medical Device Market - Overview
4.2 Medical Devices Market - Major Players

5. Pharmaceutical and Medical Devices Market - Drivers and Barriers

5.1 Drivers
5.2 Barriers

6. Deal Analysis

6.1 Deal Analysis: Pharmaceutical Market, Singapore, 2020-22
6.2 Deal Analysis: Medical Device Market, Singapore, 2020-22

7. Healthtech Landscape

7.1 Healthtech Landscape, Singapore
7.2 Healthtech Deals Landscape, Singapore
7.3 Key Healthtech Deals, Singapore
7.4 Adoption of Technology in Healthcare, Singapore
7.5 Digital Statistics, Singapore
7.6 Digital Healthcare Regulations, Singapore
7.7 Healthtech Landscape: Benefits and Risks, Singapore

8. Market Access

8.1 Overview of Healthcare System, Singapore
8.2 Reimbursement Landscape, Singapore
8.3 Overview of Insurance Providers, Public Insurance, Singapore
8.4 Overview of Insurance Providers, Private Insurance, Singapore
8.5 Healthcare Spending and Prescription Drug Price Trend, Singapore
8.6 Pricing Policies, Singapore
8.7 Regulatory Landscape, Singapore
8.7.1 Marketing Authorization for Pharmaceutical Products, Singapore
8.7.2 Marketing Authorization for Medical Devices, Singapore
8.7.3 Intellectual Property Rights, Patent, Singapore
8.7.4 Intellectual Property Rights, Trademark, Singapore
8.7.5 Clinical Trial Regulation Process, Singapore
8.7.6 Pharmaceutical Clinical Trials Landscape, Singapore
8.7.7 Medical Device Clinical Trials Landscape, Singapore
8.7.8 Clinical Trials Landscape, Singapore
8.7.9 Pharmaceutical Import and Export, Singapore
8.7.10 Pharmaceutical Advertising Regulations, Singapore
8.7.11 Pharmacy Regulations, Singapore
8.7.12 Labeling and Packaging Regulations, Singapore

9. Country Healthcare Landscape

9.1 Singapore Healthcare Policy Highlights
9.2 Healthcare Facilities, Singapore
9.3 Life Expectancy, Singapore
9.4 Immunization Rate, Singapore
9.5 Environmental Health, Singapore
9.6 Healthcare Personnel, Singapore
9.7 Disease Burden, Singapore
9.8 Healthcare Expenditure, Singapore

10 Trade Associations, Singapore11 Trade Fairs, Singapore12 Opportunities and Challenges

13 Appendix

13.1 Research Methodology
13.1.1 Coverage
13.1.2 Secondary Research
13.1.3 Forecasts
13.2 Bibliography
13.3 About the Publisher
13.4 Contact the Publisher
13.5 Disclaimer

List of Tables

Table 1: COVID-19 indicators (number), Singapore and global, 2022
Table 2: COVID-19-related travel restrictions, Singapore, 2020-22
Table 3: Acute inpatient subsidy levels for Singapore citizens, Singapore, 2022
Table 4: Specialist outpatient clinic subsidy levels for Singapore citizens, Singapore, 2022
Table 5: Specialist outpatient clinic and polyclinic drugs subsidy levels for Singapore citizens, Singapore, 2022
Table 6: CareShield Life payouts for severely disabled, Singapore, 2022
Table 7: MediShield premiums, Singapore, 2022
Table 8: Evaluation stages for marketing authorization of pharmaceutical products, Singapore, 2022
Table 9: Progressive payment scheme of registration of therapeutic products, Singapore, 2022
Table 10: Approval time (in days) for new drug applications, Singapore, 2022
Table 11: Approval time (in days) for generic drug applications, Singapore, 2022
Table 12: Approval time (in days) for registration of biosimilar products, Singapore, 2022
Table 13: Fee distribution for new drug applications, Singapore, 2022
Table 14: Fee for generic drug applications, Singapore, 2022
Table 15: Fee for biosimilar registration, Singapore, 2022
Table 16: Classification of IVD medical devices, Singapore, 2022
Table 17: Types of evaluation routes for Class B, C, and D registration, Singapore, 2022
Table 18: Approval time (in days) for registration of medical devices, Singapore, 2022
Table 19: Fee for registration of medical devices, Singapore, 2022
Table 20: Patent approval fee, Singapore, 2022
Table 21: Trademark approval fee, Singapore, 2022
Table 22: Key regulations and submission routes of clinical trials, Singapore, 2022
Table 23: Differences between CTA and CTN scheme, Singapore, 2022
Table 24: Fee for retail pharmacy license, Singapore, 2022
Table 25: Trade fairs, Singapore, 2022

List of Figures

Figure 1: Pharmaceutical market, revenue (SGDB and $B, based on manufacturing output), Singapore, 2014-21
Figure 2: Medical devices market, revenue ($B), Singapore, 2016-22
Figure 3: Healthcare start-ups in Singapore, 2022
Figure 4: Country profile, Singapore, 2021
Figure 5: Pharmaceutical market, revenue (SGDB and $B, based on manufacturing output), Singapore, 2014-21
Figure 6: Pharmaceutical market, revenue forecast (SGDB and $B, based on manufacturing output), Singapore, 2022-27
Figure 7: Pharmaceutical exports ($B), Singapore, 2014-21
Figure 8: Top export partners, Singapore, 2021
Figure 9: Pharmaceutical imports ($B), Singapore, 2014-21
Figure 10: Top import partners, Singapore, 2021
Figure 11: Pharmaceutical supply channels, Singapore, 2022
Figure 12: Common treatments offered to medical tourists in Singapore, 2022
Figure 13: Collaborators of international consortium, Singapore, 2022
Figure 14: Companies at Tuas Biomedical Park, Singapore, 2022
Figure 15: National Precision Medicine Strategy, Singapore, 2022
Figure 16: Partners of PRECISE, Singapore, 2022
Figure 17: OTC medicines market, revenue ($M), Singapore, 2016-21
Figure 18: OTC market by sub-categories of drugs, revenue ($M), Singapore, 2021
Figure 19: COVID-19 (number of cases), Singapore, 2020-22
Figure 20: COVID-19 (number of deaths), Singapore, 2020-22
Figure 21: Stringency index, COVID-19, Singapore, 2020-22
Figure 22: Containment and health index, COVID-19, Singapore, 2020-22
Figure 23: COVID-19 fiscal stimulus timeline, Singapore, 2020-22
Figure 24: Top COVID-19 markets by product categories (number of available marketed products), Singapore, 2020-22
Figure 25: Top COVID-19 products by device classes (number of available marketed products), Singapore, 2020-22
Figure 26: Companies manufacturing COVID-19 IVD products (number of available marketed products), Singapore, 2020-22
Figure 27: Top COVID-19 IVD products by equipment type (number of available marketed products), Singapore, 2020-22
Figure 28: Approved COVID-19 vaccines, Singapore, 2022
Figure 29: Vaccination status by age group (% of the population), Singapore, 2022
Figure 30: COVID-19 vaccine doses administration, number of vaccine doses administered, Singapore, 2021-22
Figure 31: COVID-19 certificates exempted from serology testing, Singapore, 2022
Figure 32: COVID-19 vaccine booster doses administration, percentage of people administered with booster doses, Singapore, 2021-22
Figure 33: COVID-19 vaccine booster doses administration, number of people administered with booster doses, Singapore, 2021-22
Figure 34: COVID-19 clinical trial sponsors by trial count, Singapore, 2020-22
Figure 35: COVID-19 clinical trials count by phase, Singapore, 2020-22
Figure 36: COVID-19 clinical trials count by trial status, Singapore, 2020-22
Figure 37: Medical devices market, revenue ($B), Singapore, 2016-22
Figure 38: Medical devices market, revenue ($B) of major companies, Singapore, 2021
Figure 39: Deal value and deal count, pharmaceutical market, Singapore, 2020-22
Figure 40: Deal value and deal count subtypes, pharmaceutical market, Singapore, 2020-22
Figure 41: Deal value and deal count, quarterly, pharmaceutical market, Singapore, 2020-22
Figure 42: Top therapy areas by deal value ($M), pharmaceutical market, Singapore, 2020-22
Figure 43: VC deals quarterly, (by value and by number), pharmaceutical market, Singapore, 2020-22
Figure 44: Top therapy areas by deal count, pharmaceutical market, Singapore, 2020-22
Figure 45: PE deals quarterly, (by value and by number), pharmaceutical market, Singapore, 2020-22
Figure 46: Deal value and deal count, medical devices market, Singapore, 2020-22
Figure 47: Deal value and deal count subtypes, medical devices market, Singapore, 2020-22
Figure 48: Deal value and deal count, quarterly, medical devices market, Singapore, 2020-22
Figure 49: Top equipment sectors by deal value ($M), medical devices market, Singapore, 2020-22
Figure 50: M&A deals, quarterly (by value and by number), medical devices market, Singapore, 2020-22
Figure 51: Top equipment sectors by deal count, medical devices market, Singapore, 2020-22
Figure 52: VC deals quarterly, (by value and by number), medical devices market, Singapore, 2020-22
Figure 53: Healthtech landscape, Singapore, 2020
Figure 54: Healthtech market segments (% share), Singapore, 2020
Figure 55: Deal value ($M) and deal count (number of deals), Healthtech, Singapore, 2020-22
Figure 56: Deal value ($M) and deal count (number of deals) by deal sub-category, Healthtech, Singapore, 2020-22
Figure 57: Healthtech ecosystem by category share, Singapore, 2019
Figure 58: Key developments: Healthtech landscape, Singapore, 2016-22
Figure 59: Overview of the Singapore Cybersecurity Strategy, 2021
Figure 60: Overview of healthcare system, Singapore, 2022
Figure 61: Overview of drug evaluation process, Singapore, 2022
Figure 62: Overview of the expedited evaluation process for drug topics, Singapore, 2022
Figure 63: Overview of the full evaluation process for drug topics, Singapore, 2022
Figure 64: Healthcare financing, Singapore, 2022
Figure 65: Eligibility claim for CareShield Life, Singapore, 2022
Figure 66: Working of claims and premiums in IPs, Singapore, 2022
Figure 67: Integrated shield plan, Singapore, 2022
Figure 68: Available IPs, Singapore, 2022
Figure 69: OOP expenditure (% of total expenditure on health), Singapore, 2012-21
Figure 70: Consumer price index in healthcare sector (base year 2019), Singapore, 2015-22
Figure 71: HSA organization chart, Singapore, 2022
Figure 72: Procedure of marketing authorization of new pharmaceutical drugs, Singapore, 2022
Figure 73: Medical device classification as per the risk, Singapore, 2022
Figure 74: Singapore IP Strategy 2030, Singapore, 2022
Figure 75: Patent approval process, Singapore, 2022
Figure 76: Trademark examination process for national registration, Singapore, 2022
Figure 77: Trademark examination process for international registration, Singapore, 2022
Figure 78: CTA-CTN regulatory roadmap, Singapore, 2022
Figure 79: Pharmaceutical clinical trials count by trial status, Singapore, 2021-22
Figure 80: Pharmaceutical clinical trials count by phase, Singapore, 2021-22
Figure 81: Top five pharmaceutical clinical trials sponsors by count, Singapore, 2021-22
Figure 82: Medical device clinical trials count by trial status, Singapore, 2021-22
Figure 83: Medical devices clinical trials count by market categories, Singapore, 2021-22
Figure 84: Medical devices clinical trials sponsors by count, Singapore, 2021-22
Figure 85: Pharmaceutical clinical trials count by indication, Singapore, 2021-22
Figure 86: Medical devices clinical trials count by therapeutic areas, Singapore, 2021-22
Figure 87: General principles of advertisement of medical devices, Singapore, 2022
Figure 88: Banned content in advertising of therapeutic products, Singapore, 2022
Figure 89: Labeling on therapeutic products, Singapore, 2022
Figure 90: Labeling elements of medical devices, Singapore, 2022

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Scope

Reasons to Buy

Table of Contents

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