Adecco insights: A glimpse into Singapore’s life sciences industry

In 2021, a report by CBRE featured Singapore as one of APAC's top five life sciences hubs. The city-state hosts over 6,000 researchers from various institutions and laboratories. Moreover, Singapore's growth in the life sciences industry is ongoing, as evidenced by Sanofi's investment of $638 million in a vaccine facility, Pfizer BioNTech’s establishment of its regional headquarters and manufacturing site, and Hilleman Laboratories' investment of $80 million in its new vaccine development and manufacturing hub in Singapore.

The demand for regulatory affairs professionals is on the rise

As the pharmaceutical industry in Singapore experiences significant growth, with major investments from companies such as GlaxoSmithKline and Novartis, as highlighted by The Economic Development Board (EDB) in Singapore, there is a corresponding increase in demand for regulatory affairs professionals.

Due to the heavy regulation of the industry and the need for compliance with numerous regulations and guidelines from government agencies, pharmaceutical companies must ensure that their products meet all requirements. The trend in Singapore is toward increased API manufacturing by major pharmaceutical companies, which in turn drives the demand for regulatory affairs professionals with expertise in regulations, consumer laws, and medical certifications.

Other roles increasing in demand

As the life sciences industry continues to evolve and new technologies and treatments are developed, there is an increasing demand for various roles, including regulatory affairs officers, chemists, microbiologists, bio-technologists, technicians, researchers, and scientists. A report by Grand View Research indicates that the global life sciences market is projected to grow at a compound annual growth rate (CAGR) of 10.8% from 2023 to 2030, with the demand for healthcare products and services driving the growth. Singapore has maintained its competitive position as a biomedical hub, thanks to its skilled talent pool, logistical network, government funding, and existing physical infrastructure, which help to attract life sciences companies and foster a supportive ecosystem. Professionals with the necessary skills and expertise for these roles will remain in high demand as the life sciences industry continues to expand and develop new technologies and treatments.

Looking ahead, the industry is expected to grow even further as more global corporations enter the market and establish their regional APAC bases in Singapore. There are numerous opportunities for professionals in the life sciences industry to help these companies expand their business, lead operations, and enter new markets.

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