, Singapore

Medical devices sector enhances competitiveness due to local and global collaborations

Singapore’s partners were attracted to the market’s preventive healthcare.

The Lion City’s medical sector improved its competitiveness, which resulted in access to funding, resources, and global networks, analytics and data firm, GlobalData, said.

Its dominance in the medical device sector was renowned for biomedical innovation. It also shifted to preventive healthcare, which was attributed to partnerships with local and foreign markets. 

GlobalData’s research revealed that Singapore recorded over 25 mergers and acquisitions, partnerships, and financing deals during the first half of 2023. This is a promising start, GlobalData said, since it is 71% of the deals made in the whole year of 2022. 

One example of deals is MiRXES, a Singapore-based RNA technology firm, which had an agreement with Zhejiang Anji Economic Development District and PT Elion Medical Indonesia. 

“The company aims to democratize early disease detection worldwide. This move is expected to support MiRXES in expanding its commercial presence in China and Indonesia and enhance cancer combat efforts across the Asia-Pacific region,” read the statement.

Shreya Jain, medical devices analyst at GlobalData, said “strategic partnerships can pave the way for co-creating economic opportunities built on the principles of affordability, accessibility, and quality.”

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Italy brings its strong suits to Singapore’s fintech expo
Italian trade executive says 9 firms at the Singapore Fintech Festival 2023 exemplify the diverse range of products and expertise Italy can bring to the table.
Trust Bank sets the bar for digital banking in Asia Pacific
The digital bank targets to be Singapore's fourth largest retail bank, CEO Dwaipayan Sadhu said.
How brands can avoid inauthentic nostalgia marketing
A GlobalData expert flag inauthenticity in using throwback marketing and cite brand campaigns that are winning hearts.