Singapore's pharmaceutical market value to reach $1.15 billion by 2021

17 November 2017

Singapore’s pharmaceutical market is expected to expand from $903 million in 2016 to $1.15 billion by 2021,

According to data and analytics company GlobalData’s latest report: ‘CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Singapore’ the island states’ healthcare market is driven by universal access to health insurance schemes and world-class biomedical sciences research facilities. However, the market is small in comparison to those of other developed countries, primarily due to the small population.

In 2010, Singapore was ranked fourth globally for its healthcare infrastructure, according to the Institute for Management Development. Efficient healthcare infrastructure and increasing public healthcare expenditure are expected to drive the market.

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