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Precision medicine in Singapore looking for solutions and collaborations - opportunities for Finnish companies

27.02.2018
Singapore develops its precision medicine ecosystem to become a leader in this field. Both public and private players in this ecosystem are interested in world's best products and services an in research, innovation and business collaboration with foreign partners.

Singapore has already strong expertise in precision medicine (term used to describe approximately the same issues that are called personalized health in Finland). Government is working of defining and implementing a coordinated detailed national strategy to speed up the movement from academic research towards commercially available solutions for Singapore's needs and to offer them to the rest of the world, especially in Asia.

Many foreign commercial enterprises have used Singapore successfully as a "living lab" to co-develop and test-bed new products and business models for Asia. Both public and private actors involved in precision medicine have shown strong interest towards international collaboration in R&D and business creation. All this opens a multitude of research, innovation and business collaboration opportunities both with public and private players

Change in the market that has opened up this opportunity

The Singapore government has identified Precision Medicine (PM) as a high value, potentially disruptive technology, one which is a natural fit for a country with strengths in biomedical sciences, data management and storage, analytics and a technologically advanced healthcare system.

Singaporean's apparent proclivity to certain chronic diseases has caused alarm: Singapore has the second-highest proportion of diabetics in its population among developed countries, trailing behind the US only. Singapore's research community is deeply involved in various aspects of Precision Medicine (PM). Its research institutes and laboratories are world class. Singapore is home to many highly successful Big Pharma regional headquarters (RHQs) and manufacturing operations, but pharma research facilities have been moving out. Singapore is very open to partnership and collaboration. Many foreign commercial enterprises have leveraged multiple government initiatives and have used Singapore successfully as a "living lab" to co-develop and test-bed new products and business models for Asia.

Offerings (products, services, solutions) that are relevant to this opportunity:

  • Data capture/integration/storage/management
  • Diagnostics
  • Drug development and therapies

Related material:

Briefing Paper PRECISION MEDICINE IN SINGAPORE

 

Read more health related information about Singapore: Country one pager: Singapore

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If you are interested in this business opportunity, please contact: riku.makela@formin.fi

 

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