Recently released market study: Singapore Pharmaceuticals & Healthcare Report Q3 2011

PRLog (Press Release) - Jun. 30, 2011 - BMI View: Singapore is a low-risk pharmaceutical market, propped up by pro-business policies, welldeveloped healthcare provision and high per-capita spending on medicines. However, due to its small size, commercial opportunities will remain limited in terms of their financial potential, although Singapore will still be of interest to foreign companies, partly given its strong regulatory environment, which has continued to stimulate interest in clinical trials and similar research activities.

Headline Expenditure Projections

* Pharmaceuticals: SGD836mn (US$615mn) in 2010 to SGD869mn (US$690mn) in 2011; +3.9% in local currency terms and +12.1% in US dollar terms. Forecast unchanged from Q211.
* Healthcare: SGD10.10bn (US$7.43bn) in 2010 to SGD10.80bn (US$8.57bn) in 2011; +6.9% in local currency terms and +15.4% in US dollar terms. Forecast up slightly from Q211 due to macroeconomic factors.
* Medical devices: SGD430mn (US$316mn) in 2010 to SGD450mn (US$357mn) in 2011; +4.6% in local currency terms and +12.9% in US dollar terms. Forecast up slightly from Q211 due to macroeconomic factors.

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Full Report Details at
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Business Environment Rating: Singapore's score increased by 2.45% in relation to the previous quarter. At 62.7 presently, it ranks fourth of the 17 key markets surveyed by our proprietary Q311 Business Environment Rating (BER) matrix for the Asia Pacific region. Over the medium term, however, we expect Singapore to fall down the ratings, as emerging countries such as Vietnam and Indonesia become more alluring for foreign firms selling patented products.

Key Trends & Developments

* Singapore's Health Ministry will include more drugs on its standard drug list, reports todayonline.com, citing Health Minister Khaw Boon Wan. Presently, the list comprises 1,000 drugs that are considered cost-effective and important to the provision of healthcare in the country. The ministry is in discussions with doctors over additions in the list's yearly review, which will be put forward to the country's Drug Advisory Committee.
* In April 2011, US technology firm IBM and Singapore's Institute of Bioengineering and Nanotechnology were reported to be developing nanostructures to treat antibiotic-resistant bacterial infections, including the 'super-bug' MRSA (methicillin-resistant Staphylococcus aureus). The therapeutics evolved from chemicals used to create computer microchips and will be incorporated into consumer products such as deodorants, surface wipes and preservatives. To prevent damage to healthy cells in the body, the nanomedical polymers are biodegradable.

BMI Economic View: We have revised up Singapore's real GDP forecast from 5.1% to 5.9% on the back of stronger-than-expected Q111 data. However, this pace of growth is unlikely to be sustained as we expect the regional monetary tightening to have an impact on external demand in the coming quarters and we also project a China-led slowdown in H211. Indeed, for 2011, we flag up persistently high oil prices and a sharper-than-expected slowdown in China in H211 as the two key risks to our sanguine outlook. This will also trickle down to translate into more cautious spending patterns regarding out-of-pocket healthcare and pharmaceutical expenditure, with non-prescription medicines expected to grow more slowly than their on-prescription counterparts.

BMI Political View: Singapore's ruling People's Action Party (PAP) retained power in the general elections held on May 7 2011, indicating that pro-business economic policies will likely be continued, which the maturing opposition bodes well for democratic progress. Singapore will therefore remain an attractive base for multinationals and other players involved in the pharmaceutical and medical industries.

Partial Table of Contents:

SWOT Analysis
- Singapore Pharmaceuticals And Healthcare Industry SWOT
- Singapore Political SWOT
- Singapore Economic SWOT
- Singapore Business Environment SWOT
Pharmaceutical Business Environment Ratings
- Table: Asia Pacific Pharmaceutical Business Environment Ratings For Q311
- Rewards
- Risks
Singapore - Market Summary
- Regulatory Regime
- Intellectual Property Issues
- Trade Agreements
- Pricing and Reimbursement
Industry Trends and Developments
- Epidemiology
- Non-Communicable Disease
- Communicable Disease
- Healthcare Sector
- Healthcare Financing
- Healthcare Insurance
- Healthcare Insurance Developments
- Healthcare Company Developments
- Medical Tourism
- Research and Development
- Bioscience Sector
- Recent Research and Development Activities
- Clinical Trials
- Recent Developments in Clinical Trials Industry
- Medical Devices
- Table: Classification Of Medical Devices In Singapore
- Recent Developments in the Medical Devices Industry
Industry Forecast Scenario
- Overall Market Forecast
- Table: Pharmaceutical Sales Indicators 2007-2015
- Key Growth Factors - Industry
- Table: Healthcare Expenditure Indicators 2007-2015
- Table: Government Healthcare Expenditure Indicators 2007-2015
- Table: Private Healthcare Expenditure Indicators 2007-2015
- Key Growth Factors - Macroeconomic
- Table: Singapore - Economic Activity
- Prescription Drug Market Forecast
- Table: Prescription Drug Sales Indicators 2007-2015
- Patented Drug Market Forecast
- Table: Patented Drug Market Indicators 2007-2015
- Generic Drug Market Forecast
- Table: Generic Drug Sales Indicators 2007-2015
- OTC Medicine Market Forecast
- Table: OTC Medicine Sales Indicators 2007-2015
- Medical Device Market Forecast
- Table: Medical Devices Sales Indicators 2007-2015
- Pharmaceutical Trade Forecast
- Table: Exports and Imports Indicators 2007-2015
- Other Healthcare Data Forecasts
- Key Risks to BMI's Forecast Scenario
Competitive Landscape
- Pharmaceutical Industry
- Table: Pharmaceutical Manufacturing In Singapore
- Table: Singapore's Leading Healthcare And Pharmaceutical Companies According To Market Capitalisation

Full Table of Contents is available at:
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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.