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5SINGAPOREMEDTECHDIRECTORY2023/2024developmentWithSingaporesexistingcapabilitiesinengineeringmanufacturingandbiomedicalsciencesthenationiswellplacedtonurtureathrivingMedTechsectortofurtherboostthelocaleconomyMedTechinSingaporerepresentsanimportantsectoroftheeconomyThecity-stateishometomorethan60multinationalMedTechcompanieswhichsustainsmorethan9000jobsandundertakesarangeofactivitiesfrommanufacturingtoresearchanddevelopment(R&D)FiftyoftheworldsleadingMedTechfirmshavesetuptheirregionalheadquartersinSingaporeandthereareover220MedTechstart-upsandsmall-mediumenterprisesA report on MedTech R&D in Singapore2022publishedbyRavenryrevealedthatSingaporeisthecurrentleaderinAsiasMedTechR&DsceneaccountingforSG$105millionofHealthTechfundingwhichis24percentoftotalinvestmentacrossthecontinent(exceptChinaandIndia)SingaporeistheR&Dcentrefor30globalMedTechcompaniesincludingBiosensorsBectonDickinsonAlconandHill-Romaswellaslocalstart-upssuchasHealthSTATSand VeredusLaboratoriesOverthepastyearsSingaporehasseen an increased interest from establishedindustryplayersseekingtotapintothecountrysgrowingMedTechspaceThemarketisveryattractiveformultinationalcompaniestheUSMedTechcompanyThermoFisherScientificestablishedaresearchpartnershipwithSingaporetodevelopnewcloud-basedsolutionswhileBectonDickinsonaglobalMedTechcompanywithheadquarterinSingaporeopenedaninnovationcentertodevelopnewtechnologies10xGenomicsanAmericanbiotechnologycompanythatdesignsandmanufacturesgenesequencingtechnologyusedinscientificresearchchoseSingaporeasthelocationfortheirfirstmanufacturingfacilityinAsiaThedecisiontosetupinSingaporeisduetoourgovernmentscommitmenttothebiotechnologyindustrybusinessfriendlypracticesworld-classmanufacturingexpertiseandstrongtalentpoolTheAsia-Pacificregionisanimportantmarketforcompanieslike10xGenomicsrepresenting25percentofglobalsalesinthefirsthalfof2021TheManufacturing2030plana10-yearplantogrowSingaporesmanufacturingsectorby50percentwasunveiledin2021Attheopeningof10xGenomicsSingaporeManufacturing and Commercial Hub on 25October2021MinisterofState(MOS)forTrade andIndustry Alvin Tan reiterated thegovernmentscommitmentinsupportingandgrowingthebiomedicalsectorHesaidWewilldosobycontinuingeffortstoattractleadingcompaniestoSingaporestrengtheningourexistingbaseofcompaniesexpandingeffortstodeveloparobustpooloflocaltalentandenhancingresearchandinnovationSingaporeisalsomakingsignificantinvestmentsinadvancedmanufacturingtechnologiestoensurethatitremains