SINGAPORE. The Biopolis of Asia By: Luanne Theseira Commercial Specialist U.S. Commercial Service, Singapore Email: Luanne.Theseira@mail.doc.gov. Singapore – The Biopolis of Asia. Global Biomedical Services Hub Advancing Human Healthcare. Regional HQ. Product & Process Development.
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SINGAPORE The Biopolis of Asia By: Luanne Theseira Commercial Specialist U.S. Commercial Service, Singapore Email: Luanne.Theseira@mail.doc.gov
Singapore – The Biopolis of Asia Global Biomedical Services Hub Advancing Human Healthcare Regional HQ Product & Process Development Full-scale Manufacturing Basic & Clinical Research Healthcare Delivery Marketing Source: EDB Singapore
Strong IP Protection World Intellectual Property Office Madrid Protocol Berne Convention Singapore is signatory to major IPR conventions & treaties Budapest Treaty Paris Convention Trade Related Aspects of IPR (TRIPS) Patent Cooperation Treaty (PCT) Nice Agreement “Singapore has a solid infrastructure, strong government support for the biomedical sciences industry, sound intellectual property protection and excellent opportunities for synergistic local collaborations.” Managing Director, Lilly Systems Biology Source: EDB Singapore
ProcessesBiomedical Sciences Cluster Medical Technology Biomarkers Pharmaceutical Services Drug Discovery Bioprocessing Genomics & Proteomics Molecular & Cell Biology Bioengineering & Nanotechnology Computational Biology Healthcare Services & Delivery Stem Cells Bioimaging Biotechnology Source: EDB Singapore
VISION To develop Singapore as the Healthcare Services Hub in Asia. Already the regional hub for South East Asia. - Expand from less than 1% in 2000 to 3% by 2012. => Represent 1 million foreign patients contributing $2.6 billion of value-add or 1% more to GDP
Singapore – Healthcare Services Hub in Asia • Recognizes the potential growth in regional demand • Asia’s population will expand from 3.2 billion to 5. 6 billion in 2050. • Consumer expenditure on healthcare services and healthcare goods is expected to grow to US$188 billion in 2013.
Singapore – Healthcare System, Health Status and Best Prospects • Government Expenditure stands at 0.9% of GDP ðlower than any developed country ðpopulation is much younger at present ð as population ages, health expenditure will be higher Singapore Government is looking at ways to address the problem of rising healthcare costs
Healthcare Financing Singapore has a hybrid healthcare financing framework Two Key Principles :- • Individual Responsibility • Community and Govt. support for those in need
Primary Healthcare Services / Hospital Care Primary Healthcare • 80% of the primary healthcare services is provided by the private practitioners • 20% by the Govt polyclinics Hospital Care • 80% of hospital care provided by public sector • 20% by the private sector
Health Facts • Cancer – Biggest Killer in Singapore • Heart Disease –2nd Most Common Cause of death • Stroke– 4th Most Common • Diabetes Mellitus – 8% of population diabetic, accounts for 8% of all deaths AIM => to identify these early and take preventive or corrective steps promptly.
Health Sciences Authority (HSA) SINGAPORE’S EQUIVALENT OF THE FDA • Health Products Regulation Group • Health Products Bill tabled in Parliament in Jan 2007 • Adopts a Risk-Based Approach => Devices approved for use in the U.S., Europe, Japan and Australia are acceptable
Future Challenges • The increasing cost of providing healthcare as a result of advances in medical knowledge and technology • Rising expectations and demand for better and more sophisticated health services by a more affluent public • Rapidly ageing population
Future Plans • Health spending to reach US$2 billion a year within the next 5 years. => Currently, it is US$1.3 billion per year • 2 Plots of Land will go on sale in 2007 for the development of private hospitals • Expected to yield an additional 400 beds • In the Public Sector, approx. 910 beds will come on stream in 2007
Best Prospects / Opportunities • Cutting-edge medical technology and equipment • Health Screening products • Point-of-Care Diagnostics • Preventive Care • Home Care • Infection Control Products