The Asia Medical Technology market is expected to grow at a CAGR of 8% and is projected to overtake the EU as the second largest market globally by 2020. Singapore is strategically placed to enable MedTech companies to tap into these regional opportunities. Today, Singapore is home to more than 60 multinational MedTech companies undertaking a range of activities from regional headquarters and manufacturing, to research and development.
Singapore is a critical manufacturing base producing a diverse range of medical technology products from implantable pacemakers, to contact lenses and life science instruments for global markets. Companies leverage on Singapore’s strong design and engineering capabilities, base of automation suppliers and high quality assurance standards to undertake the manufacturing of high-value medical products.
Singapore’s network of top universities, research institutions and innovative start-ups enable MedTech companies to tap on a vibrant open innovation ecosystem. With a strong presence of more than 25 R&D centres established by multinational MedTech companies and a local pool of over 220 MedTech start-ups and small-medium enterprises, MedTech companies have increasingly been plugging into this network of innovation, talent and ideas to develop next-generation products and solutions for the region.
With the shift toward connected devices, Singapore offers companies a strong base to build new business models around big data and patient-centric care. Our base of design consultancies, data analytics research and applied data analytics talent provide companies the capabilities to develop new go-to-market strategies in Asia.
of the world’s microarrays and one third of the world’s thermal cyclers and mass spectrometers are manufactured in Singapore.
multinational MedTech companies have established their R&D presence in Singapore, with many investing in end-to-end capabilities ranging from product design, to optimisation and validation.
regional headquarters from the world’s leading MedTech firms are based in Singapore. Singapore is a hub for business model innovation, marketing and regulatory, and e-commerce to expand access in Asian markets.
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