Singapore Pharmaceuticals & Cosmetics

Singapore has a thriving pharmaceuticals and cosmetics sector, driven by a strong focus on research and development (R&D), a pro-business environment, and a position as a regional hub for Southeast Asia

Key market dynamics

• Government support: The government's Biomedical Sciences (BMS) initiative, launched in 2000, has significantly invested in R&D, making the country a top biomedical hub in Asia. The Health Sciences Authority (HSA) provides an industry-friendly regulatory system, which, though constantly evolving, attracts global and regional players.

• Economic growth: Market revenue for pharma and cosmetics was valued at $1.5 trillion in 2024, with projections to reach $2.3 trillion by 2033. Singapore has also seen significant growth in pharmaceutical exports.

• Key trends: The market is being shaped by emerging trends, including digitalization, AI integration, and a focus on sustainability and eco-friendly products. There is also increasing demand for personalized and premium products, especially among younger, tech-savvy consumers.

• Hub for expansion: Both local and multinational companies leverage Singapore's strategic location to expand into the broader ASEAN market

Major pharmaceutical and cosmetics players

The Singaporean market includes a mix of large multinational corporations and local firms.

Pharmaceutical and biotech companies

• Novartis: Swiss multinational operating in Singapore.

• Johnson & Johnson: Major American multinational involved in pharmaceuticals.

• Roche: Swiss multinational healthcare company.

• Global Pharma Pte Ltd

  : A Singapore-based headquarters for an Indonesian company, supplying premium quality medical products.

• Hummingbird Bioscience

  : A Singaporean biotech company focused on biotherapeutics for cancer and autoimmune diseases.

• iNova Pharmaceuticals: A multinational pharmaceutical company with a Singaporean presence.

Cosmetics and retail

• The Skin Pharmacy

  : Singapore's first skincare brand, known for pharmacist-owned retail outlets and personalized skincare products.

• Guardian and Watsons: These are major pharmacy and beauty retail chains with numerous outlets across Singapore, similar to Western-style drugstores.

• Skya Transdermic

  : Highlighted as a top cosmetic brand in Singapore for its cruelty-free and paraben-free products.

• Multinational brands: Numerous global cosmetic brands have a strong presence, including L'Oréal, Unilever, and Shiseido.

Regulations and oversight

The industry is overseen by the Health Sciences Authority (HSA).

• Product compliance: Cosmetic products must comply with the Health Products Act and its regulations, which are aligned with the ASEAN Cosmetic Directive (ACD).

• Reporting requirements: The HSA mandates that companies report adverse effects, product defects, and recalls related to cosmetics.

• Importing personal medication: Specific regulations apply to bringing personal medication into Singapore, with prohibitions against bringing medication on behalf of another person, unless they are a family member