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By Grace Chua
SINGAPORE'S medical-technology industry doubled its manufacturing output and employment between 2000 and last year, according to statistics released yesterday by the Economic Development Board (EDB).
The sector, often overshadowed by its larger pharmaceutical sibling, had a manufacturing output of $2.9 billion last year, up from $1.5 billion in 2000, when Singapore began its biomedical sciences push.
In comparison, the pharmaceutical sector produced $16.1 billion in output last year, up from $4.8 billion in 2000, and it employed more than 4,000 people, compared with about 2,000 in 2000.
Medical technology includes devices and technologies, like the making of contact lenses, pacemakers and research instruments.
An example of how it has performed: 10 per cent of the world's contact lenses are made in Singapore by firms such as Ciba Vision, Essilor and Alcon.
The main driver for medical technology is worldwide spending on health care, such as on an ageing population. Often, it is manufacturing- and labour-intensive, and employs two-thirds of the workers in biomedical manufacturing. Last year, it employed more than 8,200 workers, up from fewer than 4,000 eight years ago. This year, it is set to contribute half of the 900 new jobs in biomedical sciences.
A substantial number of these will come from new investments. At least two of these, of significant value to Singapore's medical technology sector, will be announced in October, the EDB said.
'In spite of the recession this year, there continue to be projects being announced,' said Mr Beh Kian Teik, director of its biomedical sciences cluster.
The sector is aiming for $5 billion in manufacturing output by 2015, EDB added.
This article was first published in The Straits Times.
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