Number of Pharmaceutical Companies Singapore, Value Chain Pharmaceutical - Ken Research

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Singapore Pharmaceutical Market is driven by
Public Private Partnerships in RD and Expansion
of Multinational Companies in Local Market Ken
Research
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World Class manufacturing facilities, skilled
workforce, expansion of product portfolio by
major pharmaceutical companies, government grants
and tax incentives were the key factors driving
growth in Singapore pharmaceutical
Market. Singapore Pharmaceutical Market can be
characterized by the presence of best-in-class
infrastructure, integrated and advanced hubs for
pharmaceutical manufacturing and research and
access to regional markets and skilled workforce.
The government has invested in forming
competitive clusters to attract research,
clinical trials, and manufacturing companies in
the pharmaceutical sector. This includes
developing infrastructure such as Biopolis, and
the Tuas Biomedical Park, tax breaks and business
incentives and funding of public-sector research
institutes.
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Research and Development forms an essential part
of the pharmaceutical industry. Various
multinational companies have been involved in
private-public partnerships in Singapore,
particularly with RD and clinical trials. The
Contract Research Organization (CRO) market in
Asia grew at a rate of 20 in 2017, with
Singapores ASTAR leading some of the clinical
growth. Few established RD partnerships in
Singapore include Roches (Basel, Switzerland)
Singapore Hub for Translational Medicine,
GlaxoSmithKlines (Brentford, UK) Academic Centre
of Excellence, and Bayer Healthcares
(Leverkusen, Germany) partnership with the
Singapore National Eye Center (SNEC). Singapore
currently hosts more than 50 international
biomedical science companies, including
GlaxoSmithKline, Takeda, Pfizer, Novartis and
Roche. As a result of Singapores robust
infrastructure, intellectual property (IP)
protection, access to regional markets and
skilled workforce, many leading biomedical
companies have selected Singapore as their global
manufacturing base for a wide range of products
including Active Pharmaceutical Ingredients, drug
products and biologics drug substances.
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Singapore pharmaceutical market will continue to
incline at a positive growth rate owing to
increased investment in biopharmaceutical
manufacturing, and growing Contract Research
Organization market The report titled Singapore
Pharmaceutical Market Outlook to 2022 - by
Prescription OTC Drugs and by Patented
Generic Drugs by Ken Research suggested a growth
at a CAGR of 6.8 in revenue in Singapore
Pharmaceutical Market by 2022. Singapore
Pharmaceutical market can be characterized by the
presence of best-in-class infrastructure,
integrated and advanced hubs for pharmaceutical
manufacturing and research access to regional
markets and skilled workforce. Many leading
biomedical companies such as AbbVie, Pfizer,
Ferring Pharmaceuticals and others have selected
Singapore as their global manufacturing base For
more information on the research report, refer to
below link https//www.kenresearch.com/healthcare
/pharmaceuticals/singapore-pharmaceutical-market/1
49668-91.html
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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