Business Monitor International


Singapore Pharmaceuticals & Healthcare Report

Published 03 March 2014

  • 129 pages
  • Instant access to your report online and PDF format through your account library
  • Includes 3 free updated quarterly reports
 
$1,295.00
Singapore Pharmaceuticals & Healthcare Report

BMI View: Abbvie's latest investment into Singapore highlights the country's strength as a biotechnology hub for multinational pharmaceutical firms. In addition to the country's expertise, the ag e ing population coupled with the government's promise to improve healthcare affordability are other growth opportunities for pharmaceutical firms. However, its long-term growth potential will continue to be limited by its small population.

Headline Expenditure Projections

  • Pharmaceuticals : SGD990mn (US$790mn) in 2013 to SGD1.04bn (US$840mn) in 2014; +5.5% in local currency terms and +6.3% in US dollar terms.

  • Healthcare: SGD17.77bn (US$14.20bn) in 2013 to SGD19.66bn (US$15.83bn) in 2014; +10.6% in local currency terms and +11.5% in US dollar terms.

Risk/Reward Ratings

Singapore's Pharmaceutical Risk/Reward Rating (RRR) score for Q214 is 60.9 out of the maximum 100 under our newly improved RRR system. The country scored above average for the majority of indicators and sub-indicators, including sector value growth, pensionable population and overall economic and political landscape. With the relatively high score, the country is ranked sixth out of the 19 key markets in the region, behind developed countries like Japan, South Korea and Australia, as well as emerging markets like China and Taiwan. In the South East Asia region, it continues to rank first due to its relatively higher score under country and industry risks.

Key Trends And Developments

  • In February 2013, AbbVie reported an approximately SGD400mn (US$320mn) investment to establish operations in Singapore for small molecule and biologics active drug substance manufacturing. The completed facility will provide manufacturing capacity for emerging compounds within AbbVie's oncology and immunology pipeline to serve markets globally. The investment will establish the first manufacturing presence in Asia by AbbVie.

  • In January 2014, Singapore Health Minister Gan Kim Yong announced some key measures to address...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Business Environment
13
Industry Forecast
14
Pharmaceutical Market Forecast
14
Table: Pharmaceutical Sales Indicators 2010-2018
15
Healthcare Market Forecast
16
Table: Healthcare Expenditure Indicators, 2010-2018
19
Table: Healthcare Governmental Indicators, 2010-2018
19
Table: Healthcare Private Indicators, 2010-2018
20
Prescription Drug Market Forecast
21
Table: Prescription Drug Sales Indicators, 2010-2018
22
Patented Drug Market Forecast
23
Table: Patented Drug Market Indicators, 2010-2018
24
Generic Drug Market Forecast
24
Table: Generic Drug Sales Indicators, 2010-2018
25
OTC Medicine Market Forecast
26
Table: OTC Medicine Sales Indicators, 2010-2018
27
Pharmaceutical Trade Forecast
27
Table: Singapore Pharmaceutical Trade Data And Forecasts (SGDmn)
29
Other Healthcare Data
29
Key Risks To BMI's Forecast Scenario
31
Macroeconomic Forecasts
33
Services Still Vulnerable To External Conditions
34
Export Picture Only Slightly Better For 2014
35
Domestic Economic Fundamentals Remain Sound
37
Household Debt A Risk
37
Table: Singapore - Economic Activity
38
Industry Risk Reward Ratings
39
Asia Risk/Reward Ratings
39
Singapore Risk/Reward Ratings
45
Rewards
45
Risks
45
Market Overview
47
Industry Trends And Developments
48
Epidemiology
48
Table: Top Causes Of Death In Singapore, 2010-2012
51
Healthcare Sector
51
Financing
56
Table: Health Funding Sources In Singapore (SGDmn)
57
Healthcare Insurance
59
Healthcare Company Developments
63
Medical Tourism
64
International Healthcare Collaboration
65
Research & Development
66
Bioscience Sector
67
Research & Development Activity
68
Clinical Trials
70
Regulatory Development
73
Regional Harmonisation
74
Intellectual Property Issues
76
Trade Agreements
77
Pricing And Reimbursement Regime
78
Competitive Landscape
82
Pharmaceutical Industry
82
Table: Pharmaceutical Manufacturing In Singapore, 2004-2012
82
Table: Singapore's Leading Healthcare And Pharmaceutical Companies According To Market Capitalisation (US$mn)
83
Domestic Pharmaceutical Sector
84
Foreign Industry
84
Table: Multinational Pharmaceutical Firms' Presence In Singapore
85
Traditional Chinese Medicine
86
Pharmaceutical Distribution
87
Pharmaceutical Wholesaling
88
Pharmaceutical Retail Sector
89
Company Profile
91
Haw Par
91
Sci Gen
94
MerLion
97
Veredus Laboratories
100
Pfizer
102
Novartis
105
GlaxoSmithKline
108
Sanofi
111
Merck & Co
113
Baxter
116
Demographic Forecast
118
Demographic Outlook
118
Table: Singapore's Population By Age Group, 1990-2020 ('000)
119
Table: Singapore's Population By Age Group, 1990-2020 (% of total)
120
Table: Singapore's Key Population Ratios, 1990-2020
121
Table: Singapore's Rural And Urban Population, 1990-2020
121
Glossary
122
Methodology
124
Pharmaceutical Expenditure Forecast Model
124
Healthcare Expenditure Forecast Model
124
Notes On Methodology
125
Risk/Reward Ratings Methodology
126
Ratings Overview
127
Table: Pharmaceutical Risk/Reward Ratings Indicators
127
Indicator Weightings
128

The Singapore Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Singapore Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Singaporean pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Singapore to test other views - a key input for successful budgeting and strategic business planning in the Singaporean pharmaceutical and healthcare market.
  • Target business opportunities and risks in the Singaporean pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Singapore.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View & 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 political, economic and business environment SWOTS, it gives a complete overview of market climate.

Market Summary

Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.

Industry Developments

Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

BMI Industry Forecasts

Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Healthcare: Total healthcare expenditure (US$bn), healthcare expenditure (% of GDP), healthcare expenditure per capita (US$), hospital beds (per `000 population), doctors (per `000 population), birth and mortality rate (per `000 population)

Pharmaceutical market: Drug expenditure (US$bn), drug expenditure (% of GDP), drug expenditure per capita (US$)

Patented drug market: Prescription drug sales (US$bn), prescription sales (% of total sales), sales broken down by 14 therapeutic areas (cardiovascular, anti-infectives etc.)

Generic drug market: Generic product sales (US$bn), generic sales (% of total sales)

OTC drug market: OTC sales (US$bn), OTC sales (% of total sales), sales broken down by product types (analgesics, skin treatments, vitamins and minerals etc.)

Medical Devices: Medical device sales (US$bn), medical device sales (% of total healthcare market)

Macroeconomic Forecasts: 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

The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc