Research and Markets (http://www.researchandmarkets.com/research/d5a2ca/singapore_pharmace) has announced the addition of the "Singapore Pharmaceuticals and Healthcare Report Q4 2009" report to their offering.
The Singapore Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Singapore's pharmaceuticals and healthcare industry
Singapore now represents an average proposition for multinational pharmaceutical companies operating in Asia Pacific, behind established leaders such as Japan and South Korea. The country slipped from fourth in the Q209 regional Business Environment Rankings (BER) matrix to sixth in Q309 and further to eighth in Q409. Positives include a 100% urban market and a predictable operating climate, including political and economic stability. However, its limited growth potential, due to a small population size, as well as the current economic conditions (despite the expected full recovery from 2012), have conspired to negatively impact Singapore's attractiveness. In local currency terms, we forecasts only a marginal compound annual growth rate (CAGR) of 1.40%, with the market at consumer prices rising from SGD791mn (US$561mn) in 2008 to SGD848mn (US$606mn) in 2013.
An additional challenge is the chronic shortage of pharmacists, with authorities striving to recruit professionals from abroad. In May 2009, the Singapore Pharmacy Council (SPC) introduced a new professional exam for foreign-trained pharmacists, in order to ensure high ethical standards in the sector. Around the same time, SPC introduced 'inactive' status for pharmacies, with those that are not practicing any longer having to pay only a portion of the retention fee. The change has been introduced in a bid to encourage pharmacists to remain on the register in Singapore.