Medical technology (medtech) is a dynamic and rapidly growing sector in Singapore.
Today, Singapore is home to all of the Top 30 multinational medtech companies, which carry out a range of activities including research and development, and manufacturing.
Singapore also acts as the regional headquarters for a number of these companies.
Despite a relatively small local market, Singapore is advantageously positioned to be a leader in the Asia Pacific (APAC) region for medtech, due to its skilled labour force, which is known for its engineering capabilities and quality assurance.
To this end, the Singapore government has implemented numerous initiatives to attract foreign investment in the medtech sector to Singapore, as well as helping local start-ups and small-medium enterprises expand abroad.
Growing a skilled workforce
The latest updated national R&D scheme, the Research, Innovation and Enterprise 2025 Plan (“RIE2025”) aims to develop talent in the focus area of medtech innovation, and provides funding for medtech R&D and commercialisation, among other activities.
Under the RIE2025, the Singapore Biodesign programme, which is a national biomedical talent development and innovation platform, will continue to expand its network of regional partners to grow the APAC medtech ecosystem.
Enhancing value through partnerships
The Medtech Catapult initiative, a new national initiative hosted by the Agency for Science, Technology and Research (A*STAR), was announced in March 2024 with funding of S$38 million (about US$28 million) to accelerate the development of novel medtech products in Singapore.
This initiative seeks to boost local R&D capabilities for medtech product development and enhance the high-value medtech manufacturing capacities of local contract manufacturing organisations by providing project funding of up to S$2 million (including 30 per cent overheads) and access to in-house expertise, to achieve productisation.
Financial Incentives
One of the financial incentives aimed at encouraging innovation, use and commercialisation of intellectual property (IP) rights arising from research and development (R&D) activities is the Intellectual Property Development Incentive (“IDI”).
Subject to the terms of the IDI, an entity may obtain a concessionary tax rate on a percentage of qualifying IP income derived during the incentive period.
IP landscape supporting medtech in Singapore
Accelerated grant
The SG IP FAST is a pilot acceleration programme that aims to support innovators in building their IP portfolio, and will be available until 31 December 2024.
Under SG IP FAST, patent applications that are first filed in Singapore can be granted in as little as six to nine months, related trademark applications can be registered in as little as three to six months, depending on their complexity, and related registered design applications can be registered in as little as one month.
The applications are related if the trademarks and registered designs are to be used in relation to the invention contained in the patent application, or related products and services.
Any company may take advantage of SG IP FAST, provided that the patent application filed in Singapore is a “first filed” application (i.e., no priority claim).
This may be beneficial in fast-paced technological areas or where there is a need to get a quick read-out on patentability to help convince investors of the value of the invention in question.
Grant or allowance in Singapore may be used to accelerate corresponding cases through various acceleration programmes.
Springboard to patent protection abroad
Singapore participates in various international and regional acceleration programmes with other patent offices, such as global and bilateral Patent Prosecution Highway (PPH) programmes, ASEAN Patent Examination Co-operation (ASPEC), patent cooperation with Cambodia and Laos, and Collaborative Search and Examination (CS&E) with Vietnam.
These support local companies in seeking regional and international protection when expanding abroad, as well as foreign companies with business interests in the ASEAN region.
In particular, the patent prosecution process in Singapore is comparatively faster than that in most ASEAN countries, and therefore patent applicants may find it useful to expedite patent prosecution in the region using the search and examination results from Singapore using the ASPEC scheme.
Singapore’s strategic government support and strong IP framework provide a conducive environment for medtech innovation.
The comprehensive legal protections, expedited patent processes, tax benefits, and extensive support for R&D and commercialization ensure that medtech companies can thrive.
This robust ecosystem attracts both local and international players, making Singapore a leading medtech hub in the APAC region.
