Singapore’s Stalling Biotech Sector

Singapore, once hailed as a burgeoning biotech hub in Southeast Asia, is facing challenges despite its advanced healthcare infrastructure and business-friendly environment. Although the city-state created Biopolis and attracted major pharmaceutical companies like Takeda to set up R&D centers, the biotech sector has not seen the significant breakthroughs it once hoped for, even after two decades of investment.

A major hurdle for Singapore's biotech ambitions is its limited market size and a lack of venture funding that has slowed growth. The country’s focus on other sectors, such as electronics and trade, has also diverted attention from biotech, making it difficult for the sector to truly thrive.

Looking ahead, Singapore still holds potential to be a key player in Asia’s biotech scene due to its strong connections to global venture and private equity funds from the U.S., EU, and Middle East. The city-state is also expanding its role beyond biopharma, particularly in biomanufacturing, with initiatives like A*Star and its Institute of Food and Biotech Innovation. These efforts are aimed at addressing pressing global challenges such as food security and health needs, potentially positioning Singapore as an important hub for innovations in these areas as well.