Business Monitor International


Singapore Pharmaceuticals & Healthcare Report

Published 21 November 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:   Driven by a rapidly ageing population and growing government health expenditure, Singapore's pharmaceutical sales will continue its steady growth over the next decade. This growth is only constrained by its small population. The country's high levels of education, strong patent protection and good infrastructure also makes it a highly competitive location for international pharmaceutical companies to establish research and development and manufacturing facilities as the region integrates closer with the ASEAN Economic Community.

Headline Expenditure Projections

  • Pharmaceuticals : SGD990mn (USD790mn) in 2013 to SGD1.04bn (USD830mn) in 2014; +5.5% in local currency terms and +5.0% in US dollar terms. Forecast unchanged from Q414.

  • Healthcare: SGD17.78bn (USD14.21bn) in 2013 to SGD19.33bn (USD15.38bn) in 2014; +8.7% in local currency terms and +8.3% in US dollar terms.

Risk/Reward Index

Singapore's Pharmaceutical Risk/Reward Index (RRI) score for Q414 is 62.1 out of the maximum 100 under our newly improved RRI 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. Consequently, with this high score, Singapore is ranked just slightly below the highly attractive emerging China market.

Key Trends And Developments

  • In September, the Union Health Promotion Grant which has a cap of SGD300,000 a year will begin supporting union programmes in the one of four key health areas. These areas are chronic disease, obesity management, mental well being and smoking cessation. This initiative was launched by the National Trade Union Congress's U Live department in conjunction with the Health Promotion Board. This was done to promote workplace health activities in the country.

  • In October, it was announced that Singapore's entire public healthcare information technology system will begin shifting to cloud computing by the end...

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, Historical Data And Forecasts (Singapore 2010-2018)
15
Healthcare Market Forecast
16
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Singapore 2010-2018)
19
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Singapore 2010-2018)
19
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Singapore 2010-2018)
20
Prescription Drug Market Forecast
21
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Singapore 2010-2018)
22
Patented Drug Market Forecast
23
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Singapore 2010-2018)
24
Generic Drug Market Forecast
25
Table: Generics Drug Market Indicators, Historical Data And Forecasts (Singapore 2010-2018)
26
OTC Medicine Market Forecast
27
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Singapore 2010-2018)
28
Pharmaceutical Trade Forecast
28
Table: Pharmaceutical Trade Data And Forecasts (Singapore 2012-2018)
31
Table: Pharmaceutical Trade Data And Forecasts local currency (Singapore 2012-2018)
31
Other Healthcare Data
31
Key Risks To BMI's Forecast Scenario
33
Macroeconomic Forecasts
35
Economic Analysis
35
Global Liquidity Conditions Present Risks To Singapore-
37
-But State Of Economy Remains Sound
38
Table: Singapore - Economic Activity
41
Industry Risk Reward Ratings
42
Asia Risk/Reward Ratings
42
Singapore Risk/Reward Ratings
48
Rewards
48
Risks
48
Market Overview
49
Industry Trends And Developments
50
Epidemiology
50
Table: Top Causes Of Death In Singapore, 2010-2012
53
Healthcare Sector
54
Financing
58
Table: Health Funding Sources In Singapore (SGDmn)
59
Healthcare Insurance
61
Healthcare Company Developments
66
Medical Tourism
67
International Healthcare Collaboration
68
Research & Development
68
Bioscience Sector
70
Research & Development Activity
71
Clinical Trials
73
Regulatory Development
76
Regional Harmonisation
77
Intellectual Property Issues
79
Trade Agreements
80
Pricing And Reimbursement Regime
81
Competitive Landscape
85
Pharmaceutical Industry
85
Table: Pharmaceutical Manufacturing In Singapore, 2004-2012
85
Table: Singapore's Leading Healthcare And Pharmaceutical Companies According To Market Capitalisation (USDmn)
86
Domestic Pharmaceutical Sector
87
Foreign Industry
87
Table: Multinational Pharmaceutical Firms' Presence In Singapore
88
Traditional Chinese Medicine
89
Pharmaceutical Distribution
90
Pharmaceutical Wholesaling
91
Pharmaceutical Retail Sector
92
Company Profile
94
Haw Par
94
Sci Gen
97
MerLion
100
Veredus Laboratories
103
Pfizer
105
Novartis
108
GlaxoSmithKline
111
Sanofi
114
Merck & Co
116
Baxter
119
Demographic Forecast
121
Table: Singapore's Population By Age Group, 1990-2020 ('000)
122
Table: Singapore's Population By Age Group, 1990-2020 (% of total)
123
Table: Singapore's Key Population Ratios, 1990-2020
124
Table: Singapore's Rural And Urban Population, 1990-2020
124
Glossary
125
Methodology
127
Pharmaceutical Expenditure Forecast Model
127
Healthcare Expenditure Forecast Model
127
Notes On Methodology
128
Risk/Reward Ratings Methodology
129
Ratings Overview
130
Table: Pharmaceutical Risk/Reward Ratings Indicators
130
Indicator Weightings
131

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