, In 2016, Singapore government invested around USD 13 billion in the development of healthcare facilities in the region.
According to the Goldstein Market Intelligence forecast, In 2016, Singapore government invested around USD 13 billion in the development of healthcare facilities in the region. As per Ministry of Singapore Health, there were 12,000 hospital beds in 25 hospitals and specialty centers in Singapore.
A more recent investment of $1 billion to develop several research institutes and the Biopolis R&D complex. Together, the investments have attracted more than 30 major global life-sciences companies and created an effective ecosystem that harnesses the benefits of economies of scale and knowledge transfer. The first tier of protection comprises government subsidies of up to 80 percent of the total cost of care provided in public hospitals and primary care polyclinics. This is supported by a group of savings and insurance programs known as the “3Ms” system—for Medisave, MediShield, and Medifund—which plays a critical role in maintaining the public’s health and welfare.
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Market dynamic / Drivers & Restraints to Market Growth
Increase in aging population and focusing on fitness & healthy lifestyle is predicted to rise the Singapore pharmaceuticals market. Rise in aging population in many nations across the globe is a major a growth driver for the pharmaceutical industry. Occupational stress across diverse work settings including job insecurity, work hours, job quality (job strain, job control) and wages.
Meanwhile, the innovative pharmaceutical industry is currently facing unprecedented challenges caused by slower sales growth, expiring patents, increasing competition from generics, shorter product life cycles, tighter regulations, adverse media coverage and reputational damage, and a decline in the number of new innovative drugs under development.
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Covered in this Singapore Pharmaceutical Market Outlook 2030 Report are
“Singapore Pharmaceutical Market Outlook 2030” by Goldstein Research contains detailed overview of Singapore Pharmaceutical Market in terms of market segmentation by analysis basis, therapy type and geography. The Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities, and investments. The in-depth analysis of POS Terminal Market report will help the clients to assess their business strategies as per the competitive environment in the market space.
Major players covered in this POS Terminal Market report are:
• GlaxoSmithKline (GSK)
• Abbot Laboratories
• Merck Sharp & Dohme
• Roche Holding AG
• Pfizer Inc.
• Raffles Medical Group Ltd.
• Wave Life Sciences
• Sphaera Pharma
• Special Access Pharma
• NCI Health
• Melbourne Drugs
Further, Singapore Pharmaceutical Market Report encompasses the major trends & opportunities, market dynamics and other growth factors of the market Singapore Pharmaceutical Market outlook also comprises of key challenges, risk analysis, BPS analysis, SWOT Analysis and Market Attractiveness. The report also highlights the expert analysis to provide a complete overview of the market including the PESTLE analysis of each region and country.
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Source: EIN Presswire