Since 2000, biomedical sciences (BMS) manufacturing output in Singapore has nearly quadrupled. According to the Agency for Science, Technology and Research, total expenditure on biomedical research in Singapore grew from SGD 310.7 million ($203.7 million) in 2001 to SGD 888.9 million ($582.8 million) in 2005. The latest step in this growth trend was a 30.2% manufacturing output increase to SGD 23 billion ($15.1 billion) in 2006. Within the BMS industry, the pharmaceutical sector accounts for 91% of the total output, driven by active pharmaceutical ingredients and secondary manufacturing, as well as a growing biologics segment. Fixed asset investment commitments reached SGD 901 million ($589.7 million) in 2006, up from SGD 859.5 million ($562.6 million) in 2005. Investments in R&D and business services grew more than 33%, reaching an all-time high of SGD 217.3 million ($142.2 million) last year. Significant investments in R&D came from the establishment of a new malaria research program by the Novartis Institute for Tropical Diseases and Davos Life Science’s opening of an R&D center for tocotrienols.

Source: Singapore Economic Development Board