Singapore Pours Money into Medtech and Research and Development

Singapore has emerged as a leader in the Asian medical market and is greatly invested in the medtech sector and research and development (R&D). In Singapore, global companies look to access both medical industry talent and manufacturing and transportation capacities. Biomedical research facility sites, like Biopolis, have received about $518 million in funding over the last decade. Many large companies have taken note of Singapore’s strong biotechnological base and opportunities for growth and have established themselves in the nation. In April 2016, Nestlé established a research center focused on healthy aging in Biopolis. In January 2016, the Singaporean government also revealed a $14 billion plan to support R&D over the next half-decade in order to innovate and improve medical technology in Singapore-based companies. The continuous growth of the medtech industry in Singapore, as well as the strong support from the Singaporean government, makes the nation attractive to companies looking to expand their business in Asia.