Singapore Pharmaceuticals Market Size, Share & Industry Analysis, By Type (Drugs & Vaccines), By Disease Indication (Oncology, Diabetes, Infectious, Cardiovascular, Neurology & Psychiatry, Respiratory, Renal, Obesity, Autoimmune, Ophthalmic, Gastrointestinal, Dermatology, Hematology/Blood, Liver/Hepatology, Genetic, Hormonal/Endocrine, Women’s Health, Reproductive, Allergies, Others), By Drug Type (Biologics & Biosimilars, & Small Molecules/Conventional Drugs), By Route of Administration (Oral, Parenteral, Topical, & Inhalation), By Age Group, By Distribution Channel, and Forecast, 2025-2032

The Singapore pharmaceuticals market size was worth USD 2.72 billion in 2024 and is estimated to grow to USD 2.94 billion in 2025 and reach USD 5.50 billion in 2032. The market is projected to grow at a CAGR of 9.37% during the forecast period.

The pharmaceuticals market in Singapore is anticipated to witness a strong growth trajectory in the coming years. This growth is driven by several factors such as high prevalence of chronic diseases, aging population, increasing R&D expenditure, availability of advanced infrastructure, expansion of manufacturing capabilities and others.

• For instance, in May 2023, Thermo Fisher Scientific Inc. expanded its steriles manufacturing and research capabilities in the Asia Pacific region by opening a new drug facility in Singapore.

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According to the Singapore Economic Development Board (EDB), in 2021 Singapore witnessed USD 724.6 million in biomedical net asset investment (NAI).

Singapore Pharmaceuticals Market Trends

Emphasis on Innovative and Advanced Therapy Development is a Significant Market Trend

Singapore is emerging as a center for cell and gene therapies, with significant investments in associated facilities. The Advanced Cell Therapy and Research Institute Singapore (ACTRIS) is one such facility, which has received notable investments in recent years. Additionally, the government is also actively involved in addressing challenges associated with the same. The Singaporean government has committed significant funding to CGT research and development, including programs focused on manufacturing scale-up and understanding cell attributes. This is driven by increasing public investment, strong government support, and collaborations among both domestic and global players.

Key takeaways

• In the type segmentation, drugs accounted for around 94.0% of the Singapore pharmaceuticals market in 2024.
• In the drug type segmentation, small molecules/conventional drugs are projected to grow at a CAGR of 8.64% in the forecast period.
• In the route of administration segmentation, oral accounted for around 49% of the Singapore Pharmaceuticals Market in 2024.
• The Oral segment under the route of administration segmentation was worth USD 1.33 billion in 2024.
• In the age group segmentation, the adults segment is projected to grow at a CAGR of 9.6% during the forecast period.

Singapore Pharmaceuticals Market Growth Factors

Advanced Infrastructure and Strong Government Support to Propel Market Growth

In recent years, Singapore has emerged as a preferred place for biopharmaceutical manufacturing. With robust and advanced infrastructure for pharmaceutical manufacturing, the country has attracted global companies to expand their manufacturing capabilities. Some of the key aspects leading to advanced infrastructure include specialized facilities for pharmaceutical manufacturing, skilled workforce, advanced cold chain logistics, and others.

• For instance, Tuas Biomedical Park (TBP), Singapore is specifically zoned for biopharmaceutical manufacturing. It offers established infrastructure such as roads, utilities, and waste treatment facilities.

Singapore Pharmaceuticals Market Restraints

Pricing Pressure and Supply Chain Constraints to Limit Market Growth

Pricing pressure and supply chain constraints are the major factors limiting the growth rate of the pharmaceuticals market in Singapore. These challenges are intensified by rising inflation, fluctuating demand, and geopolitical instability, impacting drug sponsors and manufacturers. Additionally, the rise of generic drugs and over-the-counter (OTC) medications is also contributing to pricing pressure on branded pharmaceuticals.

Furthermore, pharmaceutical companies in Singapore are under growing pressure to adhere to HSA (Health Sciences Authority) and NPRA (National Pharmaceutical Regulatory Agency) regulations as they address the growing cases of fake medications, expensive digital implementation, and disjointed supply chains.

Segmentation Analysis

By Type

Based on the type segment, the market is divided into drugs and vaccines.

The vaccines segment is estimated to grow at a fastest rate in the coming years. Strong clinical pipeline of innovative vaccine candidates, emphasis on immunization programs, and increasing availability of new vaccines is expected to drive the segment growth throughout the forecast period. In addition, strong government support for vaccination also supplements the segment growth.

• For example, in June 2025, MSD (Merck & Co.) initiated the MOBILIZE-1 Phase 3 clinical trial for V181, a quadrivalent vaccine candidate to evaluate immunogenicity, safety, and efficacy of a single dose. This study involves more than 30 trial sites in dengue-endemic areas in the Asia Pacific region including Singapore.

By Disease Indication

On the basis of disease indication, the market is segmented into diabetes, oncology, infectious, neurology & psychiatry, cardiovascular, respiratory, obesity, renal, ophthalmic, autoimmune, gastrointestinal, dermatology, liver/hepatology, hematology/blood, genetic, women’s health, hormonal/endocrine, reproductive, allergies, and others.

The oncology segment captured the leading share of the market in 2024. High prevalence of various types of cancers, supportive regulatory bodies, and increasing number of approved products in the country are some of the prominent factors driving the segment’s growth. Additionally, active involvement of NGOs, government organizations, and operating players in increasing cancer awareness also supports the segment growth.

• For instance, in October 2024, Singapore Cancer Society conducted a Breast Cancer Awareness Webinar in English & Mandarin to create awareness regarding breast cancer among the general population.

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By Drug Type

Based on drug type, the market is distributed into small molecules/ conventional drugs and biologics & biosimilars.

The biologics & biosimilars segment accounts for a majority share of market in 2024. This dominance is augmented by several factors including expansion of biopharmaceutical & biologics manufacturing capacity, shifting focus of global players in Asian markets especially Singapore, availability of skilled workforce and others. Furthermore, focus on increasing investments and expansion of its service offerings by key players also boosted the segment growth.

• For example, in February 2023, Catalent, Inc. announced the USD 2.2 million expansion of its clinical supply facility in Singapore. This investment further enhanced the facility's capabilities to support larger packaging campaigns for biologics & biosimilars products.

By Route of Administration

Based on the route of administration segment, the market is segmented into parenteral, topical, oral, inhalation, and others.

The topical segment accounted for the notable Singapore pharmaceuticals market share in 2024. Factors contributing to this dominance include increasing prevalence of dermatological indications, frequent new product launches by operating players, and advancements in topical formulations. Additionally, preference toward preventive skin care further supports the market growth.

• For instance, in June 2025, Cosmo Pharmaceuticals N.V. launched Winlevi (clascoterone) cream 1% in Singapore. This product is used for the topical treatment for acne vulgaris.

By Age Group

In terms of age group, the market is segmented into adults and pediatrics.

In 2024, the adults segment dominated Singapore’s pharmaceuticals market. Population aging, health-conscious behavior, and better healthcare access are increasing the demand for prescription and OTC medicines among the adult population in Singapore. Additionally, increasing prevalence of chronic diseases especially among geriatric population further drives the segment growth.

• For instance, according to the data published by GLOBOCAN in February 2024, 25,250 new cancer cases were diagnosed in Singapore in 2022.

By Distribution Channel

Based on distribution channels, the market is divided into drug stores & retail pharmacies, hospital pharmacies, and online pharmacies.

The online pharmacies segment is anticipated to witness the fastest growth over the forecast period. Online pharmacies are gaining traction in the country due to factors such as increasing funding initiatives, launch of new service platforms, increasing adoption of telepharmacy, and others. Additionally, this segment is evolving, with a growing emphasis on e-prescriptions, secure data management, and convenient delivery options.

• For instance, in January 2022, Hyphens Pharma launched WellAway, the first HSA-approved e-pharmacy in Singapore.

List of Key Companies in Singapore Pharmaceuticals Market

Singapore’s pharmaceutical industry is rapidly expanding with the presence of well-established companies such as Pfizer Inc., AstraZeneca, Merck KGaA and GSK plc. amongst others. These companies are emphasizing on new product launches & collaboration agreements, R&D-driven innovation, and expansion of manufacturing capabilities to maintain their dominance in the market.

• For instance, in August 2024, Merck Singapore collaborated with NSG BioLabs to advance research and innovation by start-ups in the country.

Furthermore, the market also encompasses other players such as F. Hoffman- La Roche Ltd., Johnson & Johnson Services Inc., and Sanofi. These companies are also focusing on various strategic initiatives to expand their market share.

LIST OF KEY COMPANIES PROFILED

• Pfizer Inc. (U.S.)
• AstraZeneca (U.K.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• GSK plc. (UK)
• Johnson & Johnson Services Inc. (U.S.)
• Sanofi (France)
• Hyphens Pharma International Limited (Singapore)
• Merck & Co., Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS

• June 2024: Partex collaborated with the Experimental Drug Development Centre (EDDC), Singapore to enhance early drug discovery & development with an innovative approach.
• May 2024: AstraZeneca announced its plans to build a manufacturing facility in Singapore for antibody drug conjugates (ADCs) with an investment of USD 1.5 billion.

REPORT COVERAGE

The Singapore pharmaceuticals market report offers in-depth analysis of the current market scenario in the country. It encompasses various aspects such as key market dynamics, key insights including the prevalence of key chronic diseases in the country, regulatory overview of pharmaceutical products in Singapore, recent industry developments, and new product launches in the market. The Singapore pharmaceuticals market analysis also includes the profiles of the major companies operating in the market.

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Report Scope & Segmentation