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Singapore Pharmaceutical Industry Report - 0 2014
March 24, 2014
This report profiles Singapore’s pharmaceutical industry, analyzing sector size and performance, the competitive landscape, and recent developments in the industry as well as market trends and outlook through 2013. The report also profiles leading players in the industry including Haw Par, Star Pharmaceuticals, and Pharmesis International.
Singapore has positioned itself as the leading Asian manufacturing hub for multinational pharmaceutical companies over the last ten years. The country’s manufacturing output of pharmaceuticals and biological products grew at an impressive compounded annual growth rate (CAGR) of 15.2% from 2001 to 2012. During the same period, Singapore’s economy grew at an average of 6% per year. Singapore now accounts for approximately 2.4% of the world’s total medicinal and pharmaceutical exports.
The total output of pharmaceuticals and biological products in Singapore surged 11.1% year on year in 2012. It accounted for about 8% of the country’s total output. However, workers in the pharmaceutical sector comprised only 1.4% of the total manufacturing workforce. The report also examines the exports and imports of pharmaceutical products, key economic indicators, production index, value-added by sector, human resources, costs of operation, capital expenditure, and government initiatives. The pharmaceutical sector contributed more than one-fifth of the overall value-added in the manufacturing industries.
Key Points:
• The report details the market position of the leading players in the pharmaceutical industry (Haw Par Corporation Limited, Star Pharmaceuticals Limited, and Pharmesis International Limited) and also provides a comparative matrix and SWOT analysis of the three.
• The total output of pharmaceuticals and biological products accounted for approximately 8.4% of the country’s total output in 2012.
• Re-export of pharmaceutical products surged 18.6% year on year in 2013.
• The pharmaceutical sector contributed approximately 22% to the overall value-added of the manufacturing industries.
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