For Edwards Lifesciences, Singapore is integral to its global supply chain strategy

Demand for MedTech solutions in Asia is expected to reach US$225 billion (S$302.06 billion) by 2030, with more than 60 per cent of the world's population residing in the region by 2030, and one in four aged 60 or above with increased risk of chronic disease. Singapore’s strategic location as the gateway to Asia, coupled with its skilled talent pool and government support make it an ideal place for MedTech manufacturing and innovation.

Over 120 companies – including the top 30 MedTech multinational corporations (MNCs) globally – have a presence in Singapore. These companies engage in a range of activities from manufacturing to research and development (R&D), and have more than 30 plants across key sub-segments such as medical equipment and life sciences tools. They are supported by a strong supplier network and an emerging ecosystem of startups.

Singapore is a critical link in the JAPAC supply chain

Edwards Lifesciences, a global leader in heart valve technology, has been manufacturing heart valves in Singapore since 2005 to serve patients all over the world. The Asia-Pacific, including Japan, is a growth region for the US MNC, which has developed its Singapore site to play a key role in its “vertical integration strategy” of streamlining operations from production to distribution within the region.

Like other MNCs, MedTech companies that have consolidated multiple stages of their supply chain within the city-state have seen lower costs and increased efficiencies. Singapore’s facilitative government policies have also made a difference to Edwards.

Says Monzon: “If I look at Singapore, what we are doing here, partnering with the government, the ecosystem that the government has created in supporting all the different industries, this is something that you don't see in other countries. And that's the reason why Edwards continues to grow in Singapore; that is why Singapore is so important to us.”

How talent drives quality and innovation

Having the right talent has helped Edwards innovate and deliver quality to its customers from Singapore. About 98 per cent of the professionals, supervisors and technicians working in Singapore are local. Edwards has also harnessed automation and tapped into Singapore’s R&D ecosystem to improve productivity in its operations.

Under its Research, Innovation, and Enterprise (RIE) 2025 plan, Singapore has earmarked S$25 billion to support R&D initiatives across different sectors, with an additional S$3 billion in four strategic domains. These are Manufacturing, Trade and Connectivity; Human Health and Potential; Urban Solutions and Sustainability and Smart Nation and Digital Economy. 

Since last year, Edwards’ has partnered with the Agency for Science, Technology and Research (A*STAR) to explore new technologies that can expedite the development of its own automation system. Product automation “actually brings a lot of value to our industry and to our company,” says Monzon.

“The impact of the MedTech industry encompasses improving the quality of life as well as actually saving lives,” he says.
 

Talking Business is a video series featuring senior executives sharing about why Singapore is the preferred location for their business operations. Watch our interviews here.