Research and Markets: Singapore Pharmaceuticals and Healthcare Report 09 Reveals Market is Valued at SGD791mn (US$561Mn) in 2008 and to Reach SGD853mn (US$601Mn) in 2013

DUBLIN--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/research/d8672f/singapore_pharmace) has
announced the addition of the "Singapore Pharmaceuticals and Healthcare Report
Q3 2009" report to their offering.

Singapore Pharmaceuticals and Healthcare Report provides industry professionals
and strategists, corporate analysts, pharmaceutical associations, government
departments and regulatory bodies with independent forecasts and competitive
intelligence on Singapore's pharmaceutical and healthcare industry

In the Business Environment Rankings (BER) matrix for Q3 09, Singapore slipped
from fourth to sixth position out of the 15 key countries in the Asia Pacific
region, in line with worsening economic conditions and their impact on the
pharmaceutical market growth and exports in the country. While Singapore offers
a number of positives for pharmaceutical companies, including a 100% urban
market, an ageing population and a predictable operating climate, its growth
potential is limited, not least due to its small population. Specifically, the
current economic climate (forecasts are deep recession for 2009) is resulting in
more people seeking to avoid payment for healthcare services. In April 2009,
asiaone reported that the number of patients visiting free clinics operated by
voluntary and welfare organisations in Singapore was rising.

Therefore BMI forecasts that over the coming five years, the Singaporean
pharmaceutical market will grow at a compound annual growth rate (CAGR) of just
1.52% in local currency terms. Having been valued at SGD791mn (US$561mn) in
2008, in 2013, the market will reach SGD853mn (US$601mn) at consumer prices, as
its value falls in the course of 2009 and 2010, only recording an increase in
2011 and subsequent years. While consumers in Singapore have an express
preference for branded drugs, the proportion of generics as a percentage of the
total market is expected to increase from 10% in 2008 to 11.8% in 2013, as the
government continues to promote their usage within the public healthcare sphere.
At the same time, adverse economic conditions will stifle the growth of the
over-the-counter (OTC) market, which is expected to stagnate through to 2013.

Falling consumer confidence has already led to a change of strategy by some
drugmakers. In March 2009, UK-based pharmaceutical major GlaxoSmithKline (GSK)
reduced the price of its cervical cancer vaccine Cervarix by nearly 30% in
Singapore. It is expected that clinics will - in turn - lower the patient price
they charge for injections (presently at around US$600). A 2008 survey published
around the same time showed that most women were not getting vaccinated due to
the high price of the treatment. In fact, according to the Obstetrical and
Gynaecological Society of Singapore (OGSS), only 1% of women aged between 10 and
25 were vaccinated. However, a junior minister at the Singapore's Ministry of
Foreign Affairs expressed concerns relating to the effectiveness of vaccinations
against cervical cancer for teenagers, recommending caution regarding a national
vaccination programme.

Key Topics Covered:

* Executive Summary
* SWOT Analysis
* Pharmaceutical Business Environment Ratings
* Singapore - Market Summary
* Industry Trends and Developments
* Industry Forecast Scenario
* Competitive Landscape
* Company Profiles
* Country Snapshot: Singapore Demographic Data
* BMI Forecast Modelling

Companies Mentioned:

* Pfizer
* GlaxoSmithKline
* Merck & Co
* Novartis
* Sanofi-Aventis
* Baxter
* Haw Par
* SciGen
* MerLion Pharmaceuticals
* Veredus Laboratories

For more information visit
http://www.researchandmarkets.com/research/d8672f/singapore_pharmace

Laura Wood
Senior Manager
press@researchandmarkets.com
Fax from USA: 646-607-1907
Fax from rest of the world: +353-1-481-1716

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