There are now more than 400 medtech companies here, employing over 16,000 people.
Mr Bastien Feret, who heads EssilorLuxottica’s R&D Centre for Innovation & Technologies, holding a Stellest lens, which is able to slow down myopia progression in children.
An EDB spokesman said Singapore’s medical technology, or medtech, sector has been growing steadily, with a manufacturing output of $19 billion in 2022 – a $2 billion increase over 2021. In 2012, it was $5 billion. The goal was to get healthcare companies “to locate key activities with decision-making control to drive market access and business growth”, he said.
One of the latest to join this growing industry is Germany’s Biotronik, which opened a 20,000 sq m site in Kallang Way in December 2023. It is the first major manufacturer in the cardiac rhythm management sector to set up an Asia-Pacific manufacturing and research hub. About 70 per cent of its team of 50 scientists and engineers are local. They work closely with the Singapore National Eye Centre and Singapore Eye Research Institute.
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