This paper seeks to explore the potential opportunities which Singapore can explore to fulfill its key economic objectives amidst global and regional developments within the life science industry and in the process develop Singapore-domiciled companies into viable players on the global stage.
This report, commissioned by Dubai Science Park, explores the success of emerging markets in the life sciences industry and identifies strategic lessons for countries seeking to nurture their own life sciences sector.
This document provides an overview and outlook of the global healthcare industry in 2015, including key trends and statistics. Some of the main points covered include:
- Global harmonization is increasing in areas like regulations and standards to reduce costs and complexity. Biologics are growing in importance.
- The aging global population and rise of non-communicable diseases is driving growth, particularly in Asia. Countries are focusing on value-based pricing and cost containment.
- Total global healthcare revenue was estimated at $1.568 trillion in 2015, with pharmaceuticals accounting for over half. Asia's revenue was estimated at $353 billion.
- Generics are facing increased pressure and opportunity as developed countries look to contain costs
The insights driving superior healthcare outcomes in Asia Pacific.
Asia-Pacific Insight Magazine brings together IMS Health experts from across the region, delivering fresh perspectives on how to navigate through the challenges and opportunities in Asia-Pacific pharmaceutical market.
The document discusses the outlook for the medical device market in Indonesia, noting that spending on healthcare is increasing along with the economy and population. It provides an overview of the key segments in the medical device market and predicts strong growth in the coming years, especially with the implementation of universal healthcare coverage. Regulations around medical device registration and imports are also examined.
Science Backed Success - Perspectives on the Future Growth of Natural MedicinesBlackmores
One aspect of complementary medicine that has changed dramatically in the last 10 years is the focus on validation of products and their claims. This has been driven on all fronts – by regulatory bodies, health professionals, consumers, and by complementary medicine companies seeking to gain a competitive edge.
This report, commissioned by Dubai Science Park, explores the success of emerging markets in the life sciences industry and identifies strategic lessons for countries seeking to nurture their own life sciences sector.
This document provides an overview and outlook of the global healthcare industry in 2015, including key trends and statistics. Some of the main points covered include:
- Global harmonization is increasing in areas like regulations and standards to reduce costs and complexity. Biologics are growing in importance.
- The aging global population and rise of non-communicable diseases is driving growth, particularly in Asia. Countries are focusing on value-based pricing and cost containment.
- Total global healthcare revenue was estimated at $1.568 trillion in 2015, with pharmaceuticals accounting for over half. Asia's revenue was estimated at $353 billion.
- Generics are facing increased pressure and opportunity as developed countries look to contain costs
The insights driving superior healthcare outcomes in Asia Pacific.
Asia-Pacific Insight Magazine brings together IMS Health experts from across the region, delivering fresh perspectives on how to navigate through the challenges and opportunities in Asia-Pacific pharmaceutical market.
The document discusses the outlook for the medical device market in Indonesia, noting that spending on healthcare is increasing along with the economy and population. It provides an overview of the key segments in the medical device market and predicts strong growth in the coming years, especially with the implementation of universal healthcare coverage. Regulations around medical device registration and imports are also examined.
Science Backed Success - Perspectives on the Future Growth of Natural MedicinesBlackmores
One aspect of complementary medicine that has changed dramatically in the last 10 years is the focus on validation of products and their claims. This has been driven on all fronts – by regulatory bodies, health professionals, consumers, and by complementary medicine companies seeking to gain a competitive edge.
Summary of the Future Watch Session: MyHealth – Future Health Solutions in Em...Team Finland Future Watch
1) Business opportunities in emerging healthcare markets like India and Vietnam are driven by the digital transformation of healthcare through technologies like mobile devices, sensors, wearables and IoT.
2) Main opportunities include affordable point-of-care solutions, wearable solutions, telemedicine, preventative mobile monitoring and rapid diagnostics.
3) Challenges to success include high costs, finding reliable local partners, lack of cultural understanding, regulatory issues, and lacking co-creation in market entry and solution development. Success requires a long-term commitment and understanding of the local environment.
Biotechnology: Industry position survey 2012 GT AustraliaGrant Thornton
The biotechnology industry position survey provides an annual snapshot of the industry's views on key issues. The key findings were:
1) Sentiment in the industry remains positive, with 82% of respondents expecting business growth in the coming year and 68% characterizing 2011 as a good year.
2) Most companies plan to increase staffing levels, primarily in sales/marketing and scientific roles.
3) Despite 54% raising capital in 2011, funding remains a challenge with 34% having less than 12 months of cash.
4) The majority see the new R&D tax incentive as positively impacting their business, though over half have not sought advice on it.
The document provides an overview of the Indian healthcare sector. Some key points:
- The Indian healthcare sector is expected to grow at a CAGR of 22.87% until 2020 to reach $280 billion, making it one of the largest sectors in India.
- Rising incomes, growing health awareness, and medical tourism are driving growth in the sector. India also benefits from low costs and a large skilled workforce.
- Private sector investment and expansion to tier 2/3 cities are notable trends in the industry. Telemedicine is also emerging as telemedicine can expand access to rural areas.
1. The document discusses investments for early stage companies from ZJ Venture, a venture capital firm located in Zhangjiang Hi-Tech Park in Shanghai, China.
2. It provides an overview of the various industries and sectors represented in Zhangjiang Hi-Tech Park, including information technology, biotechnology, clean technology, and others.
3. ZJ Venture has invested a total of 1.88 billion RMB across 41 different companies, focusing on sectors like ICT, energy technology, and biotechnology. It also discusses establishing joint funds with partners to invest in early stage companies.
- The Indian healthcare sector is expected to grow significantly, reaching $280 billion by 2020. Growth will be driven by rising incomes, growing health awareness, and changing attitudes towards preventative healthcare.
- Private sector investment and foreign investment are increasing rapidly in the Indian healthcare industry, fueling growth through mergers and acquisitions. The government is also supporting growth through favorable policies for the healthcare sector.
- Key growth drivers for the Indian healthcare industry include rising incomes increasing Indians' ability to afford healthcare, growth and aging of the population increasing demand, and rising awareness of health and wellness promoting preventative healthcare.
This document is a quarterly newsletter providing updates on the Philadelphia life science industry. It includes articles on key topics:
1. The first article discusses how to stay informed on key players and emerging companies in a disease area through regularly asking questions about clinical trials, publications, collaborations, regulatory approvals and company pipelines.
2. The second article describes how some health tech companies have found success innovating around changes in healthcare by targeting preventative care, shifting care to the home, using lean processes and collaborating in innovation hubs.
3. Other sections provide information on investment strategies, performance metrics for local biotech companies, acquisitions and a list of companies in an investment index.
The document provides an overview of the healthcare sector in India. Some key points:
1) The Indian healthcare sector is growing rapidly, expected to reach US$280 billion by 2020, growing at a CAGR of 22.87% from 2015-2020. Private sector accounts for around 74% of healthcare spending.
2) Factors driving growth include rising incomes and health awareness, growing elderly population, increasing medical tourism, and low costs. The government is also supporting growth through policies encouraging private sector investment.
3) Private equity investment, mergers and acquisitions, expansion to tier 2/3 cities, and a shift from communicable to lifestyle diseases are notable trends in the sector. Telemedicine and
The global audiology devices market is expected to reach $9.5 billion by 2020, growing at an estimated 5% CAGR from 2014 to 2020. Technological advancements in wireless devices and increased demand from geriatric populations are fueling market growth. Hearing aids dominated the market in 2013 with 64.1% share due to enhanced comfort, connectivity and usability. Asia Pacific is expected to experience the fastest growth due to improving healthcare infrastructure and growing populations in countries like India and China.
760150 Webinar Innovation Management And Technology Transfer In ChinaJames_C_Chapman
This document summarizes a panel discussion on innovation management and technology transfer in China. It discusses China's goals to invest in research and development and establish research institutes. It provides an overview of life science technology development in China, including key innovation centers, government funding programs, patent growth, and potential partnership strategies and pitfalls when collaborating in China.
Michael Page - HLS - Global Report (English)Ema Zoric
This document provides insights into trends, recruitment, and remuneration in the healthcare and life sciences sector globally and in specific countries and industries. It discusses how the pharmaceutical industry is changing due to generic drugs and industry consolidation. It also examines trends in the medical devices industry. For both industries, it analyzes salaries and recruitment trends in 14 countries, highlighting growth areas. The document aims to help companies in the healthcare and life sciences sector recruit the best talent for business success.
Trends, recruitment and remuneration in the Healthcare & Life Sciences sectorMichael Page
This document provides insights into trends, recruitment, and remuneration in the healthcare and life sciences sector, specifically the pharmaceutical and medical devices industries. It covers 14 countries and identifies key drivers and trends in each location. Examples are given of successful recruitment projects in various countries for pharmaceutical companies. The sector is going through transitions such as increased focus on innovation, acquisitions, and cost reductions. Specialized roles in areas like regulatory, clinical research, and market access are in high demand. Salaries vary significantly between countries and industries.
This white paper has elicited views from a broad group of
industry parDcipants about the future of the Biosciences
industry in Singapore. It provides themes that can help to
guide the development of innovaDve ideas to propel the next
lap of Biosciences growth in Singapore.
New startup investment in the healthcare sector has undergone a gradual slowdown since Q4 2018. Explore more global trends in our report on the healthcare sector here http://bit.ly/hlt_sector
How to finance the biomedical research with securitization techniques, a prac...Paolo Vaona
This document discusses financing biomedical research through securitization techniques. It first provides an overview of the biomedical research market, noting its risky and competitive nature. It then analyzes market performance data showing biotech investments have lower returns than other industries. The document also examines challenges in the market like high costs and volatility that make it difficult to attract capital. It proposes that securitization techniques may help reduce risk and variance, and attract more funding to support valuable research.
Following North America and EU, Southeast and East Asia is ranked 3rd the highest projected pharmaceutical sales in 2024 with the value of USD 232 billion. As part of the region, Thailand’s pharmaceutical industry has grown and has been considered one of the top biopharma clusters regarding its public R&D spending, number of patents, initial public offerings, number of companies, and jobs.
The document discusses trends in life science investing globally. It notes that while US and European healthcare IPO issuance and market volatility has fluctuated between 2010-2016, overall investment in healthcare IPOs and M&A transactions has generally increased. The document then outlines trends showing increased investment in biotech and life sciences globally, including rising investments in China and more venture capital going to biopharma companies in their Series A rounds. It concludes that given increasing medical spending, longer life expectancies and rapid innovation, it is a good time to start new life sciences businesses.
The document discusses the need for a new paradigm for funding and conducting biotech research and development (R&D) given constraints in the current financing environment. It proposes a model called Holistic Open Learning Networks (HOLNets) that would bring together diverse participants like healthcare providers, patient groups, data analytics firms, and social media networks. HOLNets could fundamentally change R&D by encouraging data sharing, allowing researchers to learn from each other in real time, and taking advantage of the shift in healthcare to outcomes-focused and data-driven models.
Minnesota has a growing Tissue & Biologics sector developing unique regenerative medicine products. The sector includes 114 companies distributed across therapeutics, biobanks, tools/diagnostics, and support/services. Therapeutics and support/services are most developed, with companies advancing areas like orthopedics, scaffolds, and cardiovascular disease. Minnesota leverages strengths in biomaterials and tissue engineering to establish itself as a global leader in this industry.
This document provides an overview of the health tech industry and key trends. It discusses how the industry has adopted digital technologies across areas like drug manufacturing, clinical trials, hospitals, and care services. The COVID-19 pandemic further increased adoption rates. The document analyzes funding and deal size data from the past 5 years to identify fast growing segments like telemedicine, anti-counterfeiting tech, and the rise of tech giants in healthcare investing. Post-pandemic, virtual consultations are expected to become more mainstream. The future of healthcare is predicted to rely more on technologies like artificial intelligence, digital tools, and data analytics.
The 10 companies booming in healthcare sector smallinsightscare
Development is a continuous process in any sector. It brings in more comfort, more precision, and more enhanced way of living.Acknowledging the remarkable contribution of the leading companies in the care sector, we bring to you the special issue of “The 10 Companies Booming in Healthcare Sector”.
The document provides an overview of key findings from a survey of the Australian biotechnology industry in 2015. Some of the main points include:
- Business sentiment in the industry remains strong despite views that the operating environment is challenging. 69% reported having a good year in 2014 and 84% expect to grow in 2015.
- Access to capital continues to be important, with 48% looking to raise funds in the coming year and 34% having less than one year of cash.
- The industry is expected to create at least 239 new jobs in 2015 focusing on scientists, clinical trials, and advanced manufacturing roles.
- Tax policy is a major concern for companies, though the R&D tax incentive remains an
Summary of the Future Watch Session: MyHealth – Future Health Solutions in Em...Team Finland Future Watch
1) Business opportunities in emerging healthcare markets like India and Vietnam are driven by the digital transformation of healthcare through technologies like mobile devices, sensors, wearables and IoT.
2) Main opportunities include affordable point-of-care solutions, wearable solutions, telemedicine, preventative mobile monitoring and rapid diagnostics.
3) Challenges to success include high costs, finding reliable local partners, lack of cultural understanding, regulatory issues, and lacking co-creation in market entry and solution development. Success requires a long-term commitment and understanding of the local environment.
Biotechnology: Industry position survey 2012 GT AustraliaGrant Thornton
The biotechnology industry position survey provides an annual snapshot of the industry's views on key issues. The key findings were:
1) Sentiment in the industry remains positive, with 82% of respondents expecting business growth in the coming year and 68% characterizing 2011 as a good year.
2) Most companies plan to increase staffing levels, primarily in sales/marketing and scientific roles.
3) Despite 54% raising capital in 2011, funding remains a challenge with 34% having less than 12 months of cash.
4) The majority see the new R&D tax incentive as positively impacting their business, though over half have not sought advice on it.
The document provides an overview of the Indian healthcare sector. Some key points:
- The Indian healthcare sector is expected to grow at a CAGR of 22.87% until 2020 to reach $280 billion, making it one of the largest sectors in India.
- Rising incomes, growing health awareness, and medical tourism are driving growth in the sector. India also benefits from low costs and a large skilled workforce.
- Private sector investment and expansion to tier 2/3 cities are notable trends in the industry. Telemedicine is also emerging as telemedicine can expand access to rural areas.
1. The document discusses investments for early stage companies from ZJ Venture, a venture capital firm located in Zhangjiang Hi-Tech Park in Shanghai, China.
2. It provides an overview of the various industries and sectors represented in Zhangjiang Hi-Tech Park, including information technology, biotechnology, clean technology, and others.
3. ZJ Venture has invested a total of 1.88 billion RMB across 41 different companies, focusing on sectors like ICT, energy technology, and biotechnology. It also discusses establishing joint funds with partners to invest in early stage companies.
- The Indian healthcare sector is expected to grow significantly, reaching $280 billion by 2020. Growth will be driven by rising incomes, growing health awareness, and changing attitudes towards preventative healthcare.
- Private sector investment and foreign investment are increasing rapidly in the Indian healthcare industry, fueling growth through mergers and acquisitions. The government is also supporting growth through favorable policies for the healthcare sector.
- Key growth drivers for the Indian healthcare industry include rising incomes increasing Indians' ability to afford healthcare, growth and aging of the population increasing demand, and rising awareness of health and wellness promoting preventative healthcare.
This document is a quarterly newsletter providing updates on the Philadelphia life science industry. It includes articles on key topics:
1. The first article discusses how to stay informed on key players and emerging companies in a disease area through regularly asking questions about clinical trials, publications, collaborations, regulatory approvals and company pipelines.
2. The second article describes how some health tech companies have found success innovating around changes in healthcare by targeting preventative care, shifting care to the home, using lean processes and collaborating in innovation hubs.
3. Other sections provide information on investment strategies, performance metrics for local biotech companies, acquisitions and a list of companies in an investment index.
The document provides an overview of the healthcare sector in India. Some key points:
1) The Indian healthcare sector is growing rapidly, expected to reach US$280 billion by 2020, growing at a CAGR of 22.87% from 2015-2020. Private sector accounts for around 74% of healthcare spending.
2) Factors driving growth include rising incomes and health awareness, growing elderly population, increasing medical tourism, and low costs. The government is also supporting growth through policies encouraging private sector investment.
3) Private equity investment, mergers and acquisitions, expansion to tier 2/3 cities, and a shift from communicable to lifestyle diseases are notable trends in the sector. Telemedicine and
The global audiology devices market is expected to reach $9.5 billion by 2020, growing at an estimated 5% CAGR from 2014 to 2020. Technological advancements in wireless devices and increased demand from geriatric populations are fueling market growth. Hearing aids dominated the market in 2013 with 64.1% share due to enhanced comfort, connectivity and usability. Asia Pacific is expected to experience the fastest growth due to improving healthcare infrastructure and growing populations in countries like India and China.
760150 Webinar Innovation Management And Technology Transfer In ChinaJames_C_Chapman
This document summarizes a panel discussion on innovation management and technology transfer in China. It discusses China's goals to invest in research and development and establish research institutes. It provides an overview of life science technology development in China, including key innovation centers, government funding programs, patent growth, and potential partnership strategies and pitfalls when collaborating in China.
Michael Page - HLS - Global Report (English)Ema Zoric
This document provides insights into trends, recruitment, and remuneration in the healthcare and life sciences sector globally and in specific countries and industries. It discusses how the pharmaceutical industry is changing due to generic drugs and industry consolidation. It also examines trends in the medical devices industry. For both industries, it analyzes salaries and recruitment trends in 14 countries, highlighting growth areas. The document aims to help companies in the healthcare and life sciences sector recruit the best talent for business success.
Trends, recruitment and remuneration in the Healthcare & Life Sciences sectorMichael Page
This document provides insights into trends, recruitment, and remuneration in the healthcare and life sciences sector, specifically the pharmaceutical and medical devices industries. It covers 14 countries and identifies key drivers and trends in each location. Examples are given of successful recruitment projects in various countries for pharmaceutical companies. The sector is going through transitions such as increased focus on innovation, acquisitions, and cost reductions. Specialized roles in areas like regulatory, clinical research, and market access are in high demand. Salaries vary significantly between countries and industries.
This white paper has elicited views from a broad group of
industry parDcipants about the future of the Biosciences
industry in Singapore. It provides themes that can help to
guide the development of innovaDve ideas to propel the next
lap of Biosciences growth in Singapore.
New startup investment in the healthcare sector has undergone a gradual slowdown since Q4 2018. Explore more global trends in our report on the healthcare sector here http://bit.ly/hlt_sector
How to finance the biomedical research with securitization techniques, a prac...Paolo Vaona
This document discusses financing biomedical research through securitization techniques. It first provides an overview of the biomedical research market, noting its risky and competitive nature. It then analyzes market performance data showing biotech investments have lower returns than other industries. The document also examines challenges in the market like high costs and volatility that make it difficult to attract capital. It proposes that securitization techniques may help reduce risk and variance, and attract more funding to support valuable research.
Following North America and EU, Southeast and East Asia is ranked 3rd the highest projected pharmaceutical sales in 2024 with the value of USD 232 billion. As part of the region, Thailand’s pharmaceutical industry has grown and has been considered one of the top biopharma clusters regarding its public R&D spending, number of patents, initial public offerings, number of companies, and jobs.
The document discusses trends in life science investing globally. It notes that while US and European healthcare IPO issuance and market volatility has fluctuated between 2010-2016, overall investment in healthcare IPOs and M&A transactions has generally increased. The document then outlines trends showing increased investment in biotech and life sciences globally, including rising investments in China and more venture capital going to biopharma companies in their Series A rounds. It concludes that given increasing medical spending, longer life expectancies and rapid innovation, it is a good time to start new life sciences businesses.
The document discusses the need for a new paradigm for funding and conducting biotech research and development (R&D) given constraints in the current financing environment. It proposes a model called Holistic Open Learning Networks (HOLNets) that would bring together diverse participants like healthcare providers, patient groups, data analytics firms, and social media networks. HOLNets could fundamentally change R&D by encouraging data sharing, allowing researchers to learn from each other in real time, and taking advantage of the shift in healthcare to outcomes-focused and data-driven models.
Minnesota has a growing Tissue & Biologics sector developing unique regenerative medicine products. The sector includes 114 companies distributed across therapeutics, biobanks, tools/diagnostics, and support/services. Therapeutics and support/services are most developed, with companies advancing areas like orthopedics, scaffolds, and cardiovascular disease. Minnesota leverages strengths in biomaterials and tissue engineering to establish itself as a global leader in this industry.
This document provides an overview of the health tech industry and key trends. It discusses how the industry has adopted digital technologies across areas like drug manufacturing, clinical trials, hospitals, and care services. The COVID-19 pandemic further increased adoption rates. The document analyzes funding and deal size data from the past 5 years to identify fast growing segments like telemedicine, anti-counterfeiting tech, and the rise of tech giants in healthcare investing. Post-pandemic, virtual consultations are expected to become more mainstream. The future of healthcare is predicted to rely more on technologies like artificial intelligence, digital tools, and data analytics.
The 10 companies booming in healthcare sector smallinsightscare
Development is a continuous process in any sector. It brings in more comfort, more precision, and more enhanced way of living.Acknowledging the remarkable contribution of the leading companies in the care sector, we bring to you the special issue of “The 10 Companies Booming in Healthcare Sector”.
The document provides an overview of key findings from a survey of the Australian biotechnology industry in 2015. Some of the main points include:
- Business sentiment in the industry remains strong despite views that the operating environment is challenging. 69% reported having a good year in 2014 and 84% expect to grow in 2015.
- Access to capital continues to be important, with 48% looking to raise funds in the coming year and 34% having less than one year of cash.
- The industry is expected to create at least 239 new jobs in 2015 focusing on scientists, clinical trials, and advanced manufacturing roles.
- Tax policy is a major concern for companies, though the R&D tax incentive remains an
The 10 Companies Booming in Healthcare Sectorinsightscare
Acknowledging the remarkable contribution of the leading companies in the care sector, we bring to you the special issue of “The 10 Companies Booming in Healthcare Sector”. This edition portrays the inspiring stories of the listed pre-eminent organizations that are shaping the future of healthcare through innovation and dedication.
According to the website Investopedia, venture capital is a kind of private equity funding that is given by investors to new enterprises and small businesses that the investors feel have the potential for long-term development. In general, it is derived from wealthy investors, investment banks, and many other financial entities.
Life & health Sciences Horizon Panel ReportEuroBioForum
The document summarizes a report by the Life & Health Sciences Horizon Panel on opportunities in Northern Ireland's growing life and health sciences sector. Key points include:
- The sector is an important part of the Northern Ireland economy, with over 60 companies employing 4,000 people and £310 million in combined turnover.
- Significant public and private investment has supported research infrastructure and collaboration between industry and academia.
- Globally, demand is rising for effective medicines and healthcare as populations age and diseases change, creating opportunities for growth. The report makes strategic recommendations to maximize economic returns for Northern Ireland.
The document provides an overview of the life sciences sector in Telangana, India. It discusses how Hyderabad emerged as a leader in bulk drugs and vaccines due to the establishment of organizations like IDPL in the 1960s. This sparked growth of the private pharmaceutical industry. It also highlights the role of organizations like ICRISAT, CCMB, IICT, CDFD and NIN in developing an R&D ecosystem. Key initiatives like BioAsia and Pharmexcil helped link local players to the global biotech community. The life sciences clusters in Hyderabad, Bangalore and Mumbai-Pune account for over 80% of India's life sciences manufacturing and R&D. Hyderabad has
This document describes the Medical Device Gateway (MDG) program, a Chinese-Finnish network aimed at commercializing medical device technologies. The program seeks to bring Chinese medical device innovations to European markets through Finnish companies, and to open Chinese markets to Finnish medical ventures. It identifies opportunities in the large and growing Chinese IVD market and regulatory changes making it more accessible. The document outlines the program's operations of establishing strategic partnerships between Finnish and Chinese organizations to more quickly develop and place new products on global markets.
Understand more about the Awareness, Affordability and Access strategic framework to drive success for global pharma companies engaging with Asian Markets.
This Power Point Presentation is about the health care industry its opportunities in growing market and the company profile and swot analysis of Apollo Hospitals
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3. 2
Introduction
The desire for Singapore to capture more value from the billions which the country has invested in
publicly funded life science R&D is a pragmatic one.
Indeed, Singapore has now gained an outsized standing in the global scientific community despite her
relatively small size. However, this standing has yet to translate into expected downstream value
capture for her economy, especially in the startup/SME segment. This is in spite of the budding
emergence of promising home-grown life science companies with a few success stories and a healthy
number of out-licenses of Singapore-owned IP.
1. CrunchBase (Accessed Nov 2017), WIPO Statistical Database (Accessed Nov 2017).
With the rise of China, Singapore's role as an unrivalled Asian hub is changing rapidly. Many
multinationals will choose to locate their Asian headquarters in one of the Chinese metropolises.
While Singapore can continue to count on being the economic capital of Southeast Asia, developing a
homegrown ecosystem of life science SMEs/startups, some of which can eventually become
competitive players on the global stage, should feature on the national agenda.
The life science industry is a highly globalised, evergreen and knowledge intensive industry which
impacts humanity on a broad scale, spanning wide and deep across several industrial horizontals and
verticals to deliver a multitude of products and services. Though consolidation is occurring within
some segments of the life science industry, many opportunities for disruption still exists, allowing
startups and SMEs to thrive, especially those which aim to address unmet needs.
The narrative on current global medical issues persists; the globally aging population, combining with
an increasing affluent population and with it related chronic diseases, results in untenable cost burden
to healthcare systems. While most of these diseases continue to be treated with incremental
innovations, the unmet medical need of curing these diseases, including a plethora of as yet
untreatable debilitating and fatal diseases, still exist. These are enormous problems with great societal
and personal impact, which will pay great dividends for businesses that bring technological solutions
to bear, including Singaporean enterprises. After all, primary to building great businesses is to solve
problems for the society.
To further develop a homegrown life science industry which is globally competitive, an updated
industrial roadmap is needed, one which should account the current state of the global life sciences
772
5 1
PCTs Published Companies with Known PE/VC
Series Rounds
IPO Companies
2012-2016: PCTs, Known PE/VC Series Rounds, IPOs by
Singapore Registered Life Science Companies
Global Rank: 21
Aslan
Aslan, Endomaster,
Prime BioLogics,
CellResearch, Tessa
4. 3
industry. To identify the niches which Singapore companies can fill and potentially developed into the
next billion-dollar enterprise, we should consider the broader landscape spanning across categories
such as drug, device, diagnostic, life science tools and healthcare IT categories, the dynamics of major
healthcare systems such as the US and China, and the nature of large and emerging enterprises in
both of these markets. Such an industrial roadmap could also shape our investment strategy and
specifically our grant policies towards publicly funded life science R&D. This will help sharpen our focus
on generating relevant IPs which can be licensed to homegrown life science startups and SMEs for
further development and commercialisation, leading to the development of leading global companies
anchored in Singapore.
Healthcare Markets in Focus for Singapore
The US market is the largest healthcare market in the world. While medical devices and diagnostics
have struggled with reimbursement, the US market significantly rewards novel pharmaceutical
innovation, even if some of these novel therapeutic drugs treat rare or orphaned diseases that may
only benefit less than tens of thousands of patients per year.
2. PhRMA (2016) - Rare diseases by the numbers
5. 4
3. IQVIA (2017): Lifetime Trends in Biopharmaceutical Innovation
The Chinese market is the fastest growing large healthcare market globally, driven by the dualities of
foreign direct investment and domestic companies fostered by supportive industrial policy and a
multi-staged economic plan. As Chinese patients are used to paying out of pocket for innovative
treatments and diagnostics, innovative medical devices and diagnostics face less reimbursement
challenges in the Chinese market. China now has the most dynamic SME and startup life sciences
sector in Asia, benefitting from a large and fast growing domestic market and supported by a wide
availability of various debt and equity instruments, including venture capital (VC). Despite mainly
being fast followers, Chinese life science companies are rapidly developing into innovators, narrowing
the technological gap between their regional counterparts from Japan, South Korea and Singapore.
With one of the fastest growing middle-class population in the world, Southeast Asia (ASEAN) could
also be an interesting market for Singaporean life science enterprises from a patient affordability and
access standpoint. However, the ASEAN markets are highly heterogenous with different levels of
economic development, regulatory and reimbursement frameworks. Hence, they are unlikely to be a
low-hanging fruit for organic development of the next billion-dollar Singaporean life science company.
For example, private equity (PE) firms such as Quadria Capital and TVM Capital are still mainly
concentrated on healthcare services roll-up plays.
Singapore: Key Developments within the Life Science Industry
For the Research, Innovation and Enterprise (RIE) 2015 plan, the Singapore government has
earmarked SGD 16.1B to continue support of research, innovation and enterprise activities, of which
SGD 3.7B has been dedicated to enhancing existing biomedical R&D infrastructure. This has now
increased to SGD 19B for RIE2020, of which health and biomedical sciences has been identified as 1 of
the 4 main strategic technology domains. Similarly, several proof-of-concept grant schemes, such as
those previously available from A*Star and more recently the National Research Foundation, were
made available to the local life science companies seeking to develop innovative products,
biotherapeutics inclusive. However, the challenges and lack of success stories from Singapore's early
investments in biotechnology firms (biotechs) and novel drug assets have contributed to a sense of
foreboding that have etched themselves into institutional psyche. This has resulted in the current
policy for supporting medical devices and diagnostics startups as opposed to biotechs. However, an
Share of US New Active Substances (NAS) by Average Sales in the First 5 Years
6. 5
analysis of current VC investments, exits and market trends reveals that investments in biotechs, while
perceived as riskier, generate higher returns than investments in medical devices and diagnostics.
Plausible reasons for these include frequent exits to large public companies before product regulatory
approval, typically after achieving human proof of concept or up to Phase II trials, whereas
development of medical devices and diagnostics typically require some commercial traction before
exit. To aid in the successful development of a successful domestic biotech industry, re-evaluating and
consideration of additional supportive policies would be of paramount importance.
4. BMO Capital Markets (2016): M&A Database
Filling in the Gaps: Early-Stage Drug Discovery
Since the decoding of the human genome, we are living in an age of unprecedented biological
discovery, and many of these insights can be translated into novel therapeutics addressing unmet
medical needs. Notwithstanding the unpredictable failures such as the beta-amyloid late-stage
therapeutic targets for Parkinson’s and Alzheimer’s disease, startups can enjoy a level playing ground
versus big pharma in drug discovery and development. Compounding to this is the partial retreat of
big pharma from direct early-stage drug discovery and development, which has increasingly been
outsourced to VC-funded startups with recent success exit stories. Given our relative strengths in
terms of human resource, IP development and growing VC capital access, Singapore is well-positioned
to capitalize on this market gap for early-stage drug discovery.
Strategic Therapeutic Niches
It might be too prescriptive to define specific therapeutic areas of focus. However, as Singapore does
not have the benefit of a large domestic market and is geographically distant from the established life
science industrial hubs, it would be more prudent for Singapore to focus its resources on an export-
based model for niche therapeutic areas with a global critical mass to increase our chance of success.
Particularly, ophthalmology serves as one such therapeutic area where we could synergise with our
strengths.
7. 6
Patentable Clinical Diagnostics
While having to reconsider the polices and investment strategies within the domestic biotech space,
the Singapore industrial policy should also continue to support domesticmedical device and diagnostic
enterprises. However, policies should be further refined and tailored towards enterprises which will
be competitive in major markets where reimbursement hurdles are lower such as China, or
technologies which have the potential to demonstrate a significant value to the payor in the US and
thus access to reimbursement. Particularly, the discovery and clinical validation of novel diagnostic
biomarkers and methods requires the careful curation of large biological/patient sample banks.
Prospectively collecting such samples is very expensive in the US. Singaporean companies could
leverage on local and regional hospitals to assemble large curated sample banks at a fraction of the
cost. Caucasian samples are also accessible from Australia which provides generous R&D incentives
supported at both state and federal level. As such, patent protection of such novel diagnostic content
could be achieved and become a potential play for Singaporean companies within the diagnostics
industry. Despite the recent changes in the patentability of diagnostics methods in the US, there are
clear pathways which we can navigate to achieve success in patent protection.
Speed to Market: Life-Science Tools
Another segment which Singapore could develop homegrown, globally competitive enterprises is in
life sciences tools. Multinational life sciences tools companies have a significant manufacturing
footprint in Singapore. Life sciences tools do not have to undergo clinical trials and regulatory approval,
resulting in a lower lead time to market. Some life sciences tools eventually transition to becoming
diagnostic platforms. However, there are few life sciences tools segments which can give rise to billion-
dollar companies. This is also a segment which is somewhat under-invested in by VCs within the US
and EU markets.
Healthcare ICT: A Misfit for Export?
Combining the rapid-growth triumvirate of an IT-savvy nation, digital innovation as a national
development and the recent influx of private equity and venture capital funding available for
information and communications technologies (ICT) opportunities, it is no wonder that several
healthcare ICT/digital health companies and startups have established themselves in Singapore.
However, such companies typically do not fit with the "deep-tech" mould that the government
currently advocates. Without IP protection and a limited domestic market, Singaporean companies
would be limited in protecting themselves from competition when exporting and adapting such
solutions to large markets such as the US, China and Europe. Furthermore, such businesses aim to
solve specific pain points which are relevant within a particular healthcare system. Therefore, a
solution developed to address the pain points within the Singapore healthcare system may not
translate to the Chinese or US healthcare systems. Thus, such business models can be harder to defend
against competition and are also harder to scale across borders into large global markets without
substantial “glocalisation” of the underlying product or service. Within the foreseeable future, it is
unlikely that such locally developed companies can to become the next billion-dollar businesses from
Singapore. However, there may be exceptions to this, such as digital health companies which have
proprietary hardware and/or business models which efficiently address the different stakeholders
needs and create network effects.
8. 7
Bio-Entrepreneurs as Creators & Cultivators in Singapore
Beyond the above analyses for the various segments in the life sciences industry and the different
major markets, there is also the pressing challenge of how to cultivate more "bio-entrepreneurs"
which can form and lead multi-disciplinary teams needed to translate cutting-edge scientific
discoveries into actual products. In this regard, Singapore has numerous young scientific talents which
can be cultivated. However, a bottoms-up approach should be taken to develop and nurture this talent.
Esco Ventures has hired and provided training on technology scouting and venture creation to young
and promising post-doctoral researchers within the life science “deep-tech” space.
Conclusion
In summary, Singapore desires more value capture from its investments in public life science R&D. A
globally competitive domestic life science industry can be one of the drivers of Singapore's economic
growth for the next few decades. An updated industrial roadmap is needed to chart the course of
Singapore's budding life sciences industry. Certainly, that is no substitute for groundswell involvement
from the private sector, especially early-stage life science VCs driving venture creation and bringing
both technologies and multi-disciplinary talent together to address the unmet medical needs.
9. 8
About the Author
XQ Lin
Life Sciences Entrepreneur, CEO, Investor
Life sciences entrepreneur with a track record of developing and scaling businesses starting from
concept, global operational experience and early stage investment acumen.
Financially independent from 13 and founded first business at 17 (re-engineered family business
into a life sciences tools company and grew enterprise value at 25%+ CAGR for 10+ years)
Successfully established and managed life science lab tools product development program
(including Esco's world leading biosafety cabinet product line)
Introduced the Esco brand and products to more than 100 countries by establishing a global
distribution network and subsidiaries in US, UK, Japan, China, India and other countries.
Successfully developed and commercialized over a dozen life sciences tools and medtech product
lines in the US, EU and China
Developed and implemented China localization and growth strategy, resulting in 60% revenues
growth over a 1-year period. Grew lab tools product portfolio and established Medical IVF tools
business unit
Life sciences startup investments and venture creation focused on large unmet needs
Co-founder and Chairman of Carmentix Pte Ltd, a precision medicine company developing a novel
test to predict and enable prevention against preterm birth in asymptomatic women