Medical Technology

The APAC Medical Technology (MedTech) market is expected to grow to US$225 billion by 2030 at a CAGR of 10.5%. Singapore is strategically placed to enable MedTech companies to tap into these regional opportunities. Today, Singapore is home to all 30 of the Top 30 multinational MedTech companies undertaking a range of activities from research and development to manufacturing and regional headquarters.

Tapping Regional Opportunities

High-value MedTech manufacturing base

Singapore is a proven high value MedTech manufacturing powerhouse in Asia, producing more than US$12 billion of products in 2021, ranging from cardiovascular implantables, life sciences tools and diagnostics, vision care devices, hearing aids as well as medical supplies and equipment for regional and global markets. Companies leverage on Singapore’s track record of engineering capabilities, vibrant ecosystem of suppliers and other local partners and world class quality assurance standards to undertake the manufacturing of high-value medical products.

Innovative R&D ecosystem

Singapore’s network of top universities, research institutions and innovative start-ups enable MedTech companies to tap a vibrant open innovation ecosystem. With a strong presence of more than 25 R&D centres established by multinational MedTech companies and a local pool of 400 biomedical start-ups and small-medium enterprises, MedTech companies have increasingly been plugging into this network of innovation, talent and ideas to develop next-generation products and solutions for the region.

global medical technology hub content image

Hub for new business model innovation

With the shift toward connected devices, Singapore offers companies a strong base to build new business models around big data and patient-centric care. Our base of design consultancies, data analytics research and applied data analytics talent provide companies the capabilities to develop new go-to-market strategies in Asia.

At a Glance

60%

of the world’s microarrays and one third of the world’s thermal cyclers and mass spectrometers are manufactured in Singapore.

multinational MedTech companies have established their R&D presence in Singapore, with many investing in end-to-end capabilities ranging from product design, to optimisation and validation.

regional headquarters from the world’s leading MedTech firms are based in Singapore. Singapore is a hub for business model innovation, marketing and regulatory, and e-commerce to expand access in Asian markets.