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Entering the promising realm of medical technology (MedTech) has proven to be a transformative venture for a local precision plastic engineering company, marking a significant milestone in its growth trajectory. Partnering with a global leader in eye care, this company has supplied critical blister shells for contact lenses, kickstarting a fruitful collaboration that has evolved over the years.
Today, this local company extends its product range to cater to the burgeoning demand from the multinational giant, not only supplying blister shells for contact lens packaging but also innovating to streamline manufacturing processes. By implementing a water-cooling system, the company has effectively reduced manufacturing time, aligning with the multinational’s expanding capacity requirements.
The local company’s success story reflects the broader economic opportunities unfolding within Singapore’s vibrant MedTech sector – a sector encompassing medical devices, digital health, life sciences, and diagnostics. The sector’s remarkable growth is underscored by the surge in local health and biomedical startups, which have burgeoned from 59 in 2010 to over 300 in 2020.
This dynamic expansion has not only fueled Singapore’s manufacturing output, with the sector’s contribution soaring from SG$3 billion in 2008 to $18.7 billion in 2022 but has also generated substantial employment opportunities. Presently, the MedTech sector provides over 16,000 high-tech, high-value jobs locally, empowering skilled workers to drive innovation and contribute to sectoral growth.
Joel Ng, a Senior Manager in R&D at a multinational MedTech company, epitomises this trend, with seven patents to his name, highlighting the potential for local talent to shape the future of MedTech innovation.
Beyond its economic impact, Singapore’s MedTech sector has cemented the nation’s status as a global leader, capturing a significant share of high-value MedTech production. For instance, an American biotechnology company’s manufacturing facility in Singapore supplies over 90% of its global demand for microarrays – a vital genetic testing tool – while producing more than 60% of DNA sequencing consumables.
This extensive production serves medical research hubs worldwide, facilitating disease diagnosis and study. Looking ahead, Singapore’s MedTech sector will play a pivotal role in addressing the healthcare needs of its rapidly ageing population, with MedTech poised to support preventive health measures and enhance patient care efficiency.
The implementation of digital health apps and wearable devices, as part of Singapore’s Healthier SG initiative, underscores the nation’s commitment to preventive healthcare. Spearheaded by the Ministry of Health, it is a nationwide endeavour centred on preventive healthcare. It empowers Singaporeans to adopt proactive measures in managing their health, warding off chronic illnesses, and receiving robust assistance in embracing healthier lifestyles.
Moreover, MedTech innovations, such as smart wards equipped with sensor-laden beds, exemplify how technology can augment healthcare delivery, enabling nurses to manage multiple wards efficiently.
Ms Aisyah Mazlan’s role as a wireless systems integration engineer at a leading hearing aids manufacturer exemplifies the rewarding career opportunities emerging in the MedTech sector, where innovation intersects with improving patients’ quality of life.
To further propel MedTech innovation, Singapore has launched the MedTech Catapult national initiative, aimed at accelerating product development. This initiative, supported by dedicated resources and expertise, fosters collaboration and translates intellectual property into commercial products.
Additionally, Singapore’s Research, Innovation, and Enterprise plans are driving advancements in key MedTech areas, such as diagnostic tools and medical treatments. Start-ups like Sunbird Bio are pioneering breakthroughs, developing diagnostic tests for early disease detection.
Moreover, Singapore’s emphasis on sustainable MedTech design aligns with its commitment to environmental stewardship, paving the way for a healthier, more sustainable future. As Singapore continues to nurture its MedTech sector, it not only drives economic growth but also fosters innovation that enhances healthcare delivery and promotes environmental sustainability – a testament to its vision for a brighter tomorrow.
