Asia is fast emerging as a major market for global pharmaceutical, biotech and medtech companies. The growing affluence of countries like Indonesia and Vietnam, coupled with the demand for better healthcare by their people, are driving the rapid growth of the region’s healthcare market. Singapore is an ideal location in Asia for international companies to set up global and regional headquarters to organise their Asia strategy and to administer the operational and financial functions for its Asian business. Biomedical sciences companies have often set up their regional headquarters or commercial operations in Singapore due to the following factors:
Singapore’s well developed communication and transport infrastructure help to support the regional commercial activities of biomedical sciences companies based here.
Central and Highly Connected Location
Located at the heart of Asia, Singapore is hub for the region’s commercial activities. Companies leveraging upon the country’s natural connectivity to surrounding markets have set up regional headquarters to oversee their activities in Asia.
Companies can tap upon Singapore’s multi-racial workforce, which include professionals and executives who are conversant in many languages and dialects and who are familiar with the cultural nuances of neighbouring countries, to expand its regional footprint.
Singapore’s pro-business, stable, transparent and efficient operating environment provides companies with an effective platform from which they can direct and manage their regional business activities.
Availability of Key Opinion Leaders
Singapore has some of the region’s most well-regarded key opinion leaders and groups in specific medical fields such as oncology and cardiology. Biomedical sciences companies have engaged them to understand the needs of the region’s market and drive their medical marketing strategy.