SINGAPORE'S medical-technology industry doubled its manufacturing output and employment between 2000 and 2008, according to statistics released on Wednesday by the Economic Development Board (EDB).
The sector, often overshadowed by its larger pharmaceutical sibling, had a manufacturing output of $2.9billion 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 and employed over 4,000 last year, up from $4.8 billion and about 2,000 jobs in 2000.
Medical technology refers to devices and technologies like contact lenses, pacemakers and research instruments.
For example, 10 per cent of the world's contact lenses are made in Singapore by firms such as Ciba Vision, Essilor and Alcon.
The industry's main driver is worldwide spending on healthcare, 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 over 8,200 workers, up from under 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.
= The Straits Times
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