The market of Singapore has received interest by big manufacturers such as GSK, which recently invested S$130m ($95.6m) to build two continuous manufacturing facilities in the country, and expanded an existing production building.
A monthly report conducted by the Singapore government's Economic Development Board (EDB) shows the biomedical manufacturing in the country rose by 9.6% during the first six months of 2019, compared to the same period in 2018.
The country’s overall pharmaceuticals output grew by 5.3% in June 2019, supported by the higher output of biological products while the medical technology segment rose 4.2%. According to EDB, this is due to higher export demand for medical devices.
More specifically, the pharmaceutical manufacturing in Singapore was up by 5.5% in April, 17.8% in May and 5.3% in June of this year, compared to the corresponding months of 2018.
The biomedical manufacturing was raised in the country by 7.5% in April, 9.8% in May and 5% in June 2019, over the same periods of last year and finally, the medical technology manufacturing rose by 12.5%, dropped by 7.7% and then rose again by 4.2%, respectively.