Laboratory & Scientific Instruments
Singapore
Overview
2004 2005 2006 (estimated)
Total Market Size 1622 1563 1946
Total Local Production 846 801 941
Total Exports 1579 1577 1690
Total Imports 2355 2339 2695
Imports from the U.S. 997 892 1189
Footnote: Exchange rates used:
2004: US$1 = S$1.63
2005: US$1 = S$1.66
2006: US$1 = S$1.56
The above statistics are unofficial estimates. Figures are in millions of US$
Imports of laboratory and scientific equipment from the U.S. decreased marginally in 2005 compared to 2004 but are expected to rebound in 2006. Based on trade figures for the first ten months of 2006, U.S. export of laboratory and scientific instrumentation to Singapore is set to register a sizeable increase over 2005 due to a sustained pick-up of activity in the electronics, chemicals, petrochemicals and pharmaceuticals sector. The growth of regional economies is expected to translate into a steady increase in market size and an increase in imports from the U.S. There is a strong preference for American manufactured products and equipment, particularly in the field of laboratory and instrumentation where U.S. products account for 44% of total imports. Most industry players are optimistic and expect the various industries to remain competitive; biomedical sciences research and development will increase while reliance on electronics will decrease.
Best Prospects/Services
The growth areas are in the testing, certification, consulting and education services, biomedical sciences, environmental and water technologies, specialty chemicals, petroleum refining, petrochemicals, plastics and interactive and digital media. These sectors continue to attract new investment fuelled by the Singapore government’s efforts to develop them. The biomedical sciences comprise biotechnology, medical devices, healthcare services and pharmaceuticals and are considered one of Singapore’s manufacturing sector’s pillars of growth. For 2005, manufacturing output for this sector grew by 9.8% to US$10.8 billion. The other three pillars are electronics, chemicals and the engineering sectors. In 2006, a global leader in engineering, testing, management, auditing and expert consulting announced plans to increase its investment in Singapore which will translate to more business opportunities for American manufacturers of testing, laboratory and instrumentation products.
Opportunities
During the past year, the Singapore government established the National Research Council to provide a national framework for strategic research and development efforts. The areas of focus are the biomedical sciences, environmental and water technologies and interactive media. In the area of the life sciences, Singapore aims to promote itself to world-class research and development firms. It is close to achieving its target of attracting 15 world-class life sciences companies to set up operations here. In December 2006, the government announced that nearly US$1 billion will be pumped into the biomedical sciences sector over the next five years to boost healthcare standards and clinical research capabilities. In the area of environmental and water technologies, efforts are spurred by the need to diversify Singapore’s water resources. To date, the island state has successfully used innovative membrane technologies to produce clean water from both wastewater reclamation and seawater desalination. The US$1.1 billion development of the Jurong Island Petrochemical Complex also presents an attractive market for laboratory instrumentation vendors.
Resources
Trade Shows
Interphex Asia 2007
June 10-12, 2007
CIA 2007 (Chem Asia 2007, Instrument Asia 2007, AnaLab Asia 2007)
November 27-30, 2007
Singapore Government Offices
Singapore Economic Development Board (SEDB)
Singapore Biomedical Sciences Industry Cluster
http://www.Biomed-Singapore.com
A*STAR (Agency for Science, Technology & Research)
U.S. Commercial Service, Singapore Contact
Luanne Theseira, Commercial Specialist
Email: Luanne.Theseira@ mail.doc.gov