Vibrant medtech industry important to meeting healthcare needs & expectations: Khor

SINGAPORE: Minister of State for Health Amy Khor says a vibrant medical technology industry is important in helping to meet the needs of Singapore’s ageing population and rising expectations in healthcare.

She said Singapore’s medical technology sector has grown significantly in the past decade.

Manufacturing output in 2011 stood at S$4.3 billion — about three times higher than in 2000.

Singapore is also a leading choice location for top global pharmaceutical and medical technology companies looking to expand in Asia.

Eight of the top 10 pharmaceutical companies and all top 10 medical technology companies already have regional headquarters here.

Dr Khor said Singapore’s position in medical technology innovation creation is beginning to take shape, with the development of a new MedTech Park as well as the strengthening of local biomedical and clinical research.

She was speaking at the opening of Medical Fair Asia and Medical Manufacturing Asia, which showcase technology and new products in the healthcare sector.

About 700 exhibitors from 32 countries are involved.

— CNA/xq