Overview
An advanced pharmaceutical trading hub, driven by global giants and strategic government investments
Singapore, a country well-recognised for being a biomedical sciences hub with an excellent healthcare system, has one of the most advanced pharmaceutical manufacturing sectors, and research and development capabilities across Asia. This ever-growing industry is the result of the accelerated establishment of global giants in the country, as well as strategic initiatives and investments by the Singapore government. Some of these major global companies include: GlaxoSmithKline (GSK), Abbott, Lonza, Merck Sharp & Dohme (MSD), Novartis, Roche, Bayer, Johnson & Johnson, Pfizer, Astrazeneca, and Sanofi-Aventis, while some notable local players are IX Biopharma, Hockhua Tonic, Raffles Health, and Borden Company. The most dominant segment of the sector, pertaining to medical innovation and production, is a result of the government regulatory authorities' large investments in the country’s research and development projects.
The growing volume of import and export of pharmaceutical products paved the way for Singapore to position itself as a key trading hub, connecting South-East Asia and the western world. To support these pharmaceutical giants, the country is heavily involved in bolstering the infrastructure of this industry: the one-stop facilities of JTC Space are located at Tuas Biomedical Park, offering industrial and laboratory space to pharmaceutical companies. These companies have the option of being furnished with single-use technology (SUT) manufacturing platforms, allowing for the efficient establishment of manufacturing lines for smaller upfront capital costs. In 2022, Statista reported that Over The Counter (OTC) pharmaceutical market revenue amounted to USD 887 million, with an expected compound annual growth rate (CAGR) of around 5% from 2022-2027, whilst a decline was noted within the industry by The Straits Times, reducing the manufacturing output of Singapore’s domestic economy.
To maintain Singapore’s acclaimed healthcare system, the regulation and registration of pharmacists, health products and educational courses are vital
The Ministry of Health (MOH) is a government agency that manages the public healthcare system by providing good and affordable basic medical services. The healthcare system of Singapore comprises the overall provision of primary healthcare services at polyclinics and private medical clinics; Traditional Chinese Medicine (TCM); hospital, dental and support services; and Intermediate and Long Term Care (ILTC). Singapore’s pharmaceutical industry is regulated by the Health Sciences Authority (HSA), a government agency and statutory board under the MOH. HSA is responsible for regulation of health products, serving the administration of justice, securing the country’s blood supply, and for safeguarding public health.
HSA also handles the registration and licensing of medical devices and therapeutic products, oversees the regulation of health supplements, Chinese proprietary medicines, traditional medicines, cosmetic products and tobacco. Furthermore, HSA’s Applied Sciences division comprises a pharmaceutical laboratory, which provides pharmaceutical analytical services according to the Health Products Act, Medicines Act and Poisons Act, and conducts regulatory tests for affirming the safety and quality of western medicines, traditional medicines and health supplements that are marketed across Singapore. For analyzing monographs for The International Pharmacopoeia, evaluating technical articles and test procedures, and for authenticating international reference standards for WHO, the pharmaceutical laboratory has earned a reputation, since 1993, as a WHO Collaborating Centre for Medicines Quality Assurance.
Additionally, the Singapore Pharmacy Council (SPC) is another government statutory board under the MOH, supported by the Secretariat of Healthcare Professional Boards (SPB), for delivering secretariat and operational ventures. To maintain independence and autonomy beyond professional and statutory matters, SPC oversees the regulation and registration of pharmacists according to the Pharmacist Registration Act (Chapter 230).
As a professional organization representing pharmacists, the Pharmaceutical Society of Singapore (PSS) comprises a council practising in the local community, hospital, marketing/sales/distribution and academic sectors to ensure the maximum productivity of pharmacists by providing the PSS Continuing Education Accreditation Scheme. It also manages regular aseptic dispensing and diabetes care courses. It also organizes a pre-registration pharmacist training programme, which includes training sessions for pharmacists.
The Agency for Science, Technology and Research (A*STAR) is a statutory board under the Ministry of Trade and Industry Singapore (MTI), which is a leader, promoter and facilitator of significant research initiatives that drive scientific discovery and technological innovation within the local research market. A*STAR offers pharmaceutical manufacturing facilities through biopharmaceutical companies co-located with A*STAR institutes in Biopolis. These pharmaceutical companies have more recently, and at present, focused on the integrated research network that bolsters drug discovery and development.
Key Trends
Government programmes help maintain the expertise of healthcare professionals and the pharmaceutical market
Singapore is a country that values a skilled workforce of individuals with capabilities pertaining to their field. To support the workforce in developing the expertise required within the pharmaceutical manufacturing industry, the Singapore government launched the Professional Conversion Programme (PCP), offering professionals, managers, executives and technicians (PMETs) a chance to retrain or take up a better employment post within the pharmaceutical field. Additionally, the government established the Biopharmaceutical Manufacturers’ Advisory Council (BMAC), a partnership with the Economic Development Board (EDB), as a training workshop for middle and senior managers in the biomedical sciences sector.
The National Healthcare Group (NHG), a healthcare cluster of MOH Holdings (MOHH), is a company that aims to maintain a healthy nation. NHG’s primary healthcare arm is the National Healthcare Group Polyclinics (NHGP), which targets citizens from the central and northern regions of Singapore. NHGP centres provide a broad range of health services and treatment for various health conditions, including acute medical conditions, management of chronic diseases, women’s and children’s health services and dental care. National Healthcare Group Pharmacy is the pharmaceutical services division of NHG, which oversees pharmacy services and retail pharmacies located within all NHGP centres.
Pre- and post-pandemic investments boost the pharmaceutical sector
Prior to the pandemic in 2019, GSK launched a new pharmaceutical manufacturing facility at Pioneer, to cater to its 10-year Singapore Manufacturing Roadmap venture with the EDB. The facility would adopt the usage of advanced technology that drives continuous manufacturing instead of the standard methodology of batch production. The effect of the COVID-19 pandemic wreaked havoc, leaving health regulators, pharmaceutical companies, life science laboratories and research centres in dire circumstances to develop potential treatments, viable inoculations, test kits and related products to meet the needs of patients. Vaccinations were a critical component in battling the pandemic, however, certain medications were just as vital in treating or preventing the virus. Pharmaceutical regulators authorized medications for COVID-19 solely if the clinical benefits of the drug outweighed the risks.
Pharmaceutical sponsors were required to ensure the efficiency of medications with the aid of well-designed clinical trials, while regulators would monitor and carry out safety measures of medications from clinical, non-clinical and quality perspectives. Being a major contributor to the biomedical sciences industry, in 2020, GSK globally delivered three COVID-19 vaccine collaborations in clinical trials. Meanwhile, in 2021, Sanofi Pasteur aimed at investing EUR 400 million (SGD 638 million) over five years towards building a vaccine production centre in Singapore, to supply and distribute vaccines specifically within Asia.
Key Statistics
- In 2018, Merck invested SGD 20 million to build a biosafety laboratory – one of the company's first BioReliance laboratories in the Asia-Pacific region – which provides clinical testing services for biological drug products of pharmaceutical and biotechnology companies.
- The largest segment of the pharmaceutical market is the Cold & Cough Remedies segment, which recorded a market volume of USD 252 million in 2022.
Top Singapore MNCs in Pharmacy
WATSON'S PERSONAL CARE STORES PTE LTD
Incorporated in Singapore in 2009, Watson’s Personal Care Stores is part of Watsons Group – Asia's premier health and beauty retailer, with approximately 8,000 outlets in 14 Asian and European countries, including over 1,500 pharmacies. Watsons has also improved its health platform by locating 38 pharmacies within its key stores, which provide services such as prescription dispensing and review, health screening packages, smoking cessation counselling, and minor alignment counselling. Watsons was named among Asia's Top Influential Brands 2016 by Brand Alliance, based on Singapore customers' preferences for Personal Care Stores, Best Retail Loyalty Cards, and theNo. 1 Multi-Brand Beauty Store.
GLENEAGLES PHARMACY PTE LTD
Established in Singapore in 1991, Gleneagles Pharmacy is a subsidiary of Gleneagles Hospital. Customers can purchase over-the-counter drugs and prescription pharmaceuticals at Gleneagles Pharmacy. The pharmacy also offers various direct patient care services, including vaccines, preventative care services, wellness screenings, collaborative care services, medication therapy management (MTM), chronic illness management, and other direct patient care services.
GUARDIAN HEALTH & BEAUTY
Guardian Health & Beauty was incorporated in Singapore in 1987. It operates the nation's largest pharmacy chain, and offers a wide range of health and beauty items through 116 shops across the island. Over the years, Guardian has evolved into a comprehensive one-stop shop for consumers' health and aesthetic requirements. As convenient shops for health and beauty, the stores provide professional services such as patient-care consultation, dispensary services, and beauty and personal care solutions. Guardian pharmacy services are also available through the free app, MyDoc. It also provides a wide range of free healthcare services in select stores, including diabetes patient care and smoking cessation.
Top Singapore Large Local Enterprises in Pharmacy
NATIONAL CANCER CENTRE OF SINGAPORE PTE LTD
The National Cancer Centre Singapore (NCCS) is a local and regional tertiary cancer centre which was established in 1999. The NCCS handles the vast majority of cancer cases in Singapore's public healthcare system. Doctors and scientists at NCCS work with local and worldwide partners to conduct robust, cutting-edge clinical and translational research, in addition to providing holistic and multidisciplinary oncology care. A subsidiary of Sing Health, the National Cancer Centre Singapore was conferred the AMEI Golden Apple Award in 2022, the Singapore Health Quality Service Award in 2021, and the Singapore Translational Research Investigator Award in 2020.
CHANGI GENERAL HOSPITAL PTE LTD
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RAFFLES HEALTH PTE. LTD.
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NGKANG GENERAL HOSPITAL PTE. LTD.
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ADMIRALTY MEDICAL CENTRE PTE. LTD.
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MOUNT ALVERNIA HOSPITAL
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NATIONAL HEALTHCARE GROUP PHARMACY
Incorporated in 2000, NHG Pharmacy, a National Healthcare Group (NHG) business entity, oversees the pharmacy services and retail pharmacies at all NHG polyclinics. National Healthcare is a provider of long-term care pharmacy services. Its pharmacists work with other members of the healthcare team to provide clinical pharmacy services to help patients obtain the best possible results from their prescribed therapy. National Healthcare delivers treatment through a network of polyclinics, hospitals, national specialized centres, and business divisions such as NHG College, NHG Diagnostics, and National Healthcare Group Pharmacy.
NG TENG FONG GENERAL HOSPITAL
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SINGHEALTH POLYCLINICS
SingHealth Polyclinics, which was founded in 2000, provides primary healthcare services and plays an important role in empowering patients, families and communities to take control of their health and wellness by providing seamless, person-centred, preventive treatment. SingHealth Polyclinics is a subsidiary of Singapore Health Services (SingHealth), an academic medical centre that provides clinical specialties via a network of acute hospitals, national specialty centres, community hospitals and polyclinics. SingHealth Polyclinics provides outpatient medical treatment, medical follow-ups after hospital discharge, maternal and child health, immunization, health screening and education, and diagnostic and pharmaceutical services for all primary care services.
NTUC FAIRPRICE CO-OPERATIVE LTD
Unity Pharmacy, incorporated in 1992, is a retail pharmacy chain operated by NTUC FairPrice, a social enterprise which was established to reduce the cost of living in Singapore. Present in nearly 60 locations across the island, Unity Pharmacy – which is also a proponent of preventative care – empowers its customers' well-being through a network of specialized pharmacists who provide prescriptions, health-related information, and services to meet the requirements of the community. In addition to its regular services, Unity Pharmacy offers telemedicine services and helps patients obtain medical advice from anywhere with a video consultation at select locations or online.
Top Singapore SMEs in Pharmacy
MEDIC DRUGSTORE PTE LTD
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AMBER COMPOUNDING PHARMACY PTE. LTD.
Established in Singapore in 2008, Amber Compounding Pharmacy is a compounding and retail pharmacy with an overseas presence in Malaysia. The company specializes in having pharmacists who develop customized drugs for doctors, veterinarians, naturopaths and consumers. Amber Compounding Pharmacy also collaborates with its clients to provide continuous pharmaceutical assistance and advice. Dermatology, nutritional compounding, herbal medicine, and veterinary medicine are the main areas of expertise at Amber Compounding Pharmacy. It also makes compounds for paediatric and dental diseases, as well as pain relief and other treatments, such as bioidentical hormones.
MEDI-LINK PTE LTD
Medi-Link, which was founded in 1988, is a marine medical supplies company that works solely with ships and oil rigs. Serving a diverse range of marine customers, Medi-Link specializes in providing medical supplies, rescue/safety/emergency equipment, and medical chest certification to all types of commercial and private vessels, as well as the offshore oil and gas industry. The company checks and restocks ships' medical chests, as well as awarding and renewing IMO/Druggist Certificates and other certificates in accordance with international requirements. Medi-Link pharmacists are familiar with the medical requirements of commercial and private yachts, as well as offshore sites such as accommodation barges and oil rigs.
SPECIALIST COMPOUNDING PHARMACY PTE. LTD.
Incorporated in 2002, Specialist Compounding Pharmacy (SCP) is Singapore's first pharmacy to specialize in compounded drugs. The company offers one-of-a-kind and personalized items that are not generally or easily available in the country. It helps physicians and patients achieve a better therapeutic outcome by providing innovative compounded solutions. Specialist Compounding Pharmacy is a member of the Professional Compounding Chemists of Australia (PCCA) and Medisca, as well as being part of a global network of compounding pharmacies. Post-procedure moisturizers, whitening and depigmentation agents, acne medicine, anti-aging and skin firming treatments, and hair loss preparations are among its consumer cosmeceutical range of products.
PRINCETON PHARMACY (S) PRIVATE LIMITED
Princeton Pharmacy, which providesmedical supplies to ships, was established in Singapore in 1983. It supplies medicines, surgical equipment, and surgical consumables for ships passing via or departing from Singapore, one of the busiest ports in the region. Other ports are also supplied by the company, subject to local customs clearance. First-aid supplies and rehabilitation equipment are also provided. Ship owners, chandlers, agencies, oil rigs, and aviation and diving businesses are the company's key customers. The company serves ships docking in Singapore, inspects the medical stores or hospitals in vessels, replaces supplies, and issues and renews medical certificates. Princeton Pharmacy also helps with the disposal of expired medical supplies.
VIVAHEALTH PHARMACY PRIVATE LIMITED
Founded in 2013, VivaHealth Pharmacy is a provider of integrated health services. The company is a dispensing pharmacy that sells prescription medicines, over-the-counter medications, and herbal remedies for men, women and children. VivaHealth Pharmacy also offers services for visiting patients at their homes. For the convenience of its customers, the pharmacy has an online presence, which provides an easy mode of purchasing medicines through its e-store. VivaHealth Pharmacy is a subsidiary of Viva Health, Inc. VivaHealth Pharmacy assures customers of genuine high-quality products that are obtained directly from manufacturers or their authorized agents.
WESTMEAD PHARMACY PTE. LTD.
Westmead Pharmacy, a provider of technological solutions for the pharmaceutical sector, was founded in 2009. The company creates end-to-end systems that enable businesses to provide accurate and on-time fulfilment of over-the-counter and prescription drugs to foreign clients anywhere in the world. Westmead Pharmacy deals with both B2B and B2C orders. The company acquires, procures, stores and transports an assortment of branded and generic pharmaceuticals from leading pharmaceutical firms. Westmead Pharmacy also provides a patented inventory management system to help prevent excessive stock-outs, and a statistics management system, which generates useful data for companies to analyze while developing business plans.
R & D PHARMACEUTICAL PTE. LTD.
Established in 2006, R & D Pharmaceutical is an OEM house brand specialist and business development manager, for pharmaceutical and skincare contract manufacturers based in Singapore and abroad. A recipient of the Professional Enterprise Award in 2007, R & D Pharmaceutical focuses on products for health, beauty and hygiene in oral, topical and patch form. It does not sell products that are manufactured by other companies. R & D's goods have been produced in line with Good Manufacturing Practices (GMP) guidelines, and in accordance with the standard requirements of Singapore’s Health Science Authority (HSA), the Food and Drug Administration (FDA) of the United States, the European Union (EU) and Malaysia.
SMITH PHARMACY PTE. LTD.
Smith Pharmacy, incorporated in 2003, is a prominent ship supply pharmacy headquartered in Singapore. The organization also supplies other ports of call through its logistical partners. Ship owners, chandlers, agencies and oil rigs are among Smith Pharmacy's clients – many of them being leaders in the marine and offshore industries. Smith Pharmacy has received certification for Good Distribution Practice (GDP) and Good Distribution Practice for Medical Devices (GDPMDS). It has extensive experience in the manufacturing of first aid kits and paramedic equipment. Smith Pharmacy provides supplies and replenishes medication chests with certification, supplies test kits for drugs of abuse and alcohol, and disposes of outdated medicines with certification.
WOODS PHARMACY PTE. LTD.
Founded in 2017, Woods Pharmacy is a Singapore-based independent pharmacy. It delivers health advice and appropriate health goods to its customers through tailored and personal services. Woods Pharmacy is continually growing its product line to include scientifically proven health solutions and high-quality products that are backed by clinical research. The company sources health goods that are in high demand by consumers in order to meet their requirements. Woods Pharmacy delivers healthcare services to the community by collaborating with doctors, pharmaceutical producers and distributors.
HST MEDICAL PTE LTD
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Top Singapore Fastest-Growing Companies in Pharmacy Sector
RAFFLES HEALTH PTE. LTD.
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