Singapore Market Expects to Reach $1.15 billion by 2021

The Singapore pharmaceutical market is predicted to grow from $903 million in 2016 to $1.15 billion by 2012, according to data and analytics company GlobalData.

The company’s latest report shows that a key driver in Singapore’s healthcare market is universal access to health insurance and world-class biomedical sciences research facilities.

The medical device market is expected to grow as Singapore strengthens its position as the region’s healthcare hub. In 2015, the medical device market contributed $1.69 billion to Singapore’s output.