R&D spending on biomedical and related sciences in Singapore 2019, by sector

In 2019, the research and development expenditure on biomedical and related sciences in Singapore by the private sector amounted to 579.5 million Singapore dollars. Singapore is a leading centre for biomedical sciences in Asia, with industry leaders such as Pfizer, Novartis, and GSK having manufacturing plants there.

Local players in the pharmaceutical industry

The government’s R&D expenditure on biomedical and related sciences has not only facilitated inbound foreign investments in the pharmaceutical industry but has also helped pushed local capabilities. Some local companies such as Hyphens Pharma International has also contributed to the growth of the pharmaceutical industry. In the financial year 2019, Hyphens Pharma International, a specialty pharmaceutical and consumer healthcare group operating in Southeast Asian countries, reported a revenue of just under 120 million Singapore dollars.

Public opinion and involvement

The majority of the populace of Singapore believed in higher education, an optimized clinical research environment, and innovation to be the key for education development to improve the participation of the younger demographic. This character may have been one of the reasons that brought the country to be among the most innovative countries in the world. Subsequently, the government spending on research and development in the country has stimulated unprecedented growth in the field of biomedical sciences, among others.