BMS Industry Development Division

Team 2 (GG)

Biomedical Science Industry

Biopharma

Wellness

Medtech

Global trends impacting Medtech

The Rise of Asia

A Growing Middle Class

Internet of Things

An Ageing Population

Global Network Effect

Singapores Medical Technology

A growing industry in Singapore:
1. Strongest
performing
manufacturing
industry

65% of manufacturing
output growth

2. Established
Medtech regulatory
environment

Clinical trials are

approved in 3-6 weeks

3. Existing
foundations in
public-private
partnerships

A*s MedTech
Innovation Grant

4. Leveraging on
the nations
strengths

Ties engineering,
manufacturing, and
biomedical industries
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Other Market Leaders/Competitors

Singapores Advantages in Digital BMS

Strategy 1: Develop local incubators, attract overseas counterparts

NHS Innovation Accelerator: provides mentorship, partnerships, funding advice
and grant support for products ready for commercialisation

Singapores population
has high Digital Literacy
which can be taken
advantage of when
innovators want to do
product testing

Singapores aging
population is well-poised
to accept new information
biomedical monitoring
technology for chronic
illnesses

According to the WEF,

Singapore is ranked #1 in
Technological Readiness

Example: Effective
Testbed for Live-tracking
of blood glucose levels for
diabetics patients

Execution:
1.

Setting up of
government-backed
incubator with strong
connections to public
healthcare service providers

2.

Hastening implementation of
new digital technologies in
public healthcare system
portfolio companies develop
faster
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Strategy 1: Develop local incubators, attract overseas counterparts

Transformation of the Biomedical Science Industry:
1. Fosters growth
of adjacent
industry sectors
IoT, Electronic
Eng, Precision
Manufacturing, etc

2. More responsive
digital healthcare
industry more
effective testbed for
MedTech Testing

3. Greater product
diversity healthy
competition and
encourages
differentiation

4. Greater foreign
ownership of
Singapore MedTech
startup companies
more connections for
overseas expansion

Strategy 2: Facilitating and Incentivising Partnership

Facilitating partnership between data analytics and Med Tech companies developing new devices to
enhance product development through critical data analysis
E.g. of industry: sensors for medical wearables for tracking of chronic diseases
Providing grants to med tech companies on the condition of partnership
Convert successful R&D into product manufacturing in Singapore for local use and export
Partnership e.g.: IBM and Medtronic, Apple and IBM, Intersystems and med devices companies
Strengths:
Device Prototypes

Device R&D
Firm

Hospitals

Data analytics for fine

tuning of product &
algorithm building

Product
R&D

Data Analytics
Companies

Test Bed for Device

Prototypes
Patients

Data Collection

Value Chain for Med Tech Product

Effective Test Bed - Quickly

Test Prototype and Scale
Demographics & Access Largest % of Aged Population
in SEA
Human Capital - IDA:
Manpower Development,
Supportive Platforms (IP/Data
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Protection)

Strategy 2: Facilitating and Incentivising Partnership

Increase in business
activity of the Med
Tech industry

Provide entire value chain

of product development,
manufacturing and
distribution in Singapore

Enhance standing as
Regional Hub for Med
Tech Activities

Singapore is the gateway

to the SEA market

Supporting further
growth in the analytics
industry by creating
demand

Support Governments
push in building data
analytics industry to
position Singapore as
an international Data
and Analytics Hub (IDA)

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Broader Impacts
Foreign firms provide
competition and
much-needed tech
know-how

Stronger R&D and start-up

culture

More efficient healthcare

system with reformed
cost structures

Healthcare service
providers can focus more
on value-adding to patient
care

Lower value jobs are

shed

Jobs higher up the value

chain are created

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Risks / Challenges and Management

Local med-tech sector is
young, and may not be
able to compete with
larger foreign firms

Sector Specific Accelerator

Programme

Safety Hazards if users

are not adequately
trained

Small Population. Smaller

domestic market, smaller
patient base.

Maintenance of stringent
product and process
standards.

Streamlining regulatory
frameworks across ASEAN
to facilitate access to
regional markets.

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Further Considerations

Look at both adjacent industries in biomedical

industry
Pharm-bio: Customized therapy
Healthcare/Wellness: Integrate information into
clinicians practices
Two secondary impacts:
Individual wellness
Reduced cost

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Conclusion

Current trends favor the development of medical

technology in Singapore
Our goal is for Singapore to be an innovator the
medtech sector
Singapore possesses the advantages to harness
opportunities
Strategies will enable us to harness these
opportunities
Challenges to implementation can be addressed
through a variety of measures

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