Market Report, "Singapore Pharmaceuticals & Healthcare Report Q4 2014", published

From: Fast Market Research, Inc.
Published: Thu Sep 11 2014

While Singapore's small population will limit the pharmaceutical market's overall growth potential, the government's commitment to healthcare as well as the ageing population will boost consumption of pharmaceuticals over the long term. In addition, the impending launch of the Association of South East Asian Nations Community in 2015 will increase Singapore's attractiveness to foreign pharmaceutical firms.

Headline Expenditure Projections

* Pharmaceuticals : SGD990mn (USD790mn) in 2013 to SGD1.04bn (USD830mn) in 2014; +5.5% in local currency terms and +5.0% in US dollar terms. Forecast unchanged from Q 3 14.
* Healthcare: SGD17.78bn (USD14.21bn) in 2013 to SGD19.33bn (USD15.38bn) in 2014; +8.7% in local currency terms and +8.3% in US dollar terms. Forecast slightly downgraded from Q314.

Risk/Reward Ratings

Singapore's Pharmaceutical Risk/Reward Rating (RRR) score for Q414 is 62.1 out of the maximum 100 under our newly improved RRR system. The country scored above average for the majority of indicators and sub-indicators, including sector value growth, pensionable population and overall economic and political landscape. Consequently, with this high score, Singapore is ranked just slightly below other developed countries like Japan, Australia and South Korea, behind the highly attractive emerging Chinese market, and also behind Taiwan and Hong Kong.

Full Report Details at

Key Trends And Developments

* In June 2014 the Singaporean government stated that it supports the MediShield Life Review Committee's proposals to increase claim limits and lower co-insurance, particularly for the largest medical bills. As per the recommendations made by the review committee, Singaporean citizens will have to pay an additional 30% in premiums to the proposed MediShield Life universal healthcare insurance scheme for 10 years. The committee also suggested moves such as the removal of the lifetime claim limit of SGD300,000 (USD239,000) and for the government to cover most of the...

The Singapore Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Singapore Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Singaporean pharmaceutical and healthcare industry.

Key Benefits

* Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Singapore to test other views - a key input for successful budgeting and strategic business planning in the Singaporean pharmaceutical and healthcare market.

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at or call us at 1.800.844.8156.

You may also be interested in these related reports:

- South Korea Pharmaceuticals & Healthcare Report Q4 2014
- Sweden Pharmaceuticals & Healthcare Report Q4 2014
- Kenya Pharmaceuticals & Healthcare Report Q4 2014
- Argentina Pharmaceuticals & Healthcare Report Q4 2014
- Peru Pharmaceuticals & Healthcare Report Q4 2014
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email:
Contact Phone: 1-413-485-7001

Visit website »