Countries covered: Singapore
Despite its developed nature, Singapore's pharmaceutical
market has limited growth potential when compared to other
similarly developed countries in the region, mostly due to its
small size. At some 80% of the total market by value,
prescription drugs dominate, with the segment expected to remain
prominent in the future due to the support of private sector
prescribing habits. Branded drugs, which presently represent over
four-fifths, will continue to dwarf generics in terms of value as
demand for novel and lifestyle drugs increases, but the sector
stands to lose some market share in the coming years. Imports
will also increase over time, but the balance is likely to shift
in favour of exports, which will surpass local demand for
foreign-made products. Output will be boosted by overseas demand,
the growing number of alliances between local and foreign
manufacturers and well as home-grown initiatives for the sector,
such as the Biopolis Centre and the favourable economic
environment.
BMI expects growth in the domestic pharmaceutical market to be
4.5% in 2006. Market value is likely to exceed US$0.66bn in by
2010, up from US$0.53bn in 2005, boosted by changing demographics
and rising healthcare spending. Market growth will also be
supported by the pending consolidation of guidelines on
pharmaceuticals, medical devices, traditional medicines and
health supplements. In particular, stakeholders dealing with
patent and data exclusivity protection - which had been
complicated by the Singapore-US Free Trade Agreement signed in
2003 - will benefit from the expected changes.
In regional terms, Singapore will fail to perform as well as
some other neighbouring markets, such as Malaysia. While
presently on hold, the proposals to contain pharmaceutical
expenditure through a variety of measures (such as the
encouragement of parallel imports, the introduction of direct
price cuts and the attempt to create greater collaboration
between the public and private sectors) continue to pose a threat
to the branded sector in particular. However, BMI's adjusted
Business Environment Rankings for Asia place Singapore in fourth
place, given its excellent regulatory regime and economic and
political outlook.
Most domestic-sector activity continues to be recorded in the
field of biotechnology and life sciences, as pharmaceutical
manufacturing remains dominated by multinationals. Foreign
companies are expected to remain active in research and
development (R&D), boosted by the government programme to
have at least 10 multinational production facilities in the
country by 2010, which will further benefit the export
balance.
Key Benefits of Report
Rely On Our Independent 5-Year Forecasts As A Benchmark
to test other views - a key input for successful budgetary and strategic business planning.
Target Business Opportunities & Risks
through our reviews of latest industry trends, regulatory changes, and major deals, projects and investments
Exploit Latest Competitive Intelligence & Company SWOTS
on your competitors and peers through company rankings by sales, market share and ownership structure - includes multinational and national companies.
Additional Information
Scope of Report
Executive Summary & Industry SWOT
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI’s forecast analysis, and taken together with BMI’s Economic and Business Environment SWOTS, give a complete overview of market climate.
Market Summary
Outline of market characteristics, growth factors, leading therapeutic segments and a competitivness of the market.
Regulatory Regime
Guide to and analysis of country intellectual property developments and pricing & reimbursement issues, which constitute the regulatory make-up of the market.
Industry Developments
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D and patent legislation.
BMI 5-Year Industry Forecast
5-Year Forecasts to end-2010 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Drug market expenditure (US$bn); drug expenditure per capita (US$); as % of gdp
Prescription drug market (US$bn)/as % of total market; sales by alimentary tract/metabolism; antibiotics, cardiovascular, central nervous system, oncology, musculoskeletal and respiratory system
OTC market (US$bn)/as % of total market (sales by analgesic, cough and cold, digestives, skin treatments, vitamins and minerals)
Generics market (US$bn)/ as % of total market
Health expenditure (US$bn, % of gdp and per capita); public sector health expenditure as % of total; number of hospitals; beds, hospital admissions, doctors, births and deaths per 000 population
Forecasts based on bespoke BMI economic modelling, using historical data sets of macroeconomic and industry variables to derive rigorous statistical relationships, anchored in advanced linear regression techniques.
BMI 5-Year Macroeconomic Forecasts
BMI forecasts for all headline macroeconomic indicators, including:
Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against US$, government expenditure, external debt
Competitive Landscape & Profiles
Intelligence on the market position of major MNC power houses and indigenous companies. BMI profiles key research-based companies. Company SWOTS are provided for all key strategic players, complete with a company activity overview, its leading products and analysis of business opportunities.Related Reports:
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Snapshots Hungary Pharmaceuticals 2009
Snapshots Venezuela Pharmaceuticals 2009
Thailand Pharmaceuticals and Healthcare Report Q1 2010
Nigeria Pharmaceuticals and Healthcare Report Q1 2010
Argentina Pharmaceuticals and Healthcare Report Q1 2010
Kenya Pharmaceuticals and Healthcare Report Q1 2010
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