The number of biotech companies in Singapore is expected to grow by more than 60% over the next 10 years, according to the Bridging the Talent Gaps in Singapore’s Biotech Sector report released by deep tech ecosystem builder and investor SGInnovate.
Due to the government’s support and private sector investments in research and development, the number of companies in the pre-clinical phase has increased seven-fold from five in 2012 to 35 in 2022. This growth is expected to stabilise over the next decade as the ecosystem matures, with some companies entering the clinical phase, while new start-ups pioneering frontier research are incorporated.
