Local biomedical companies have raised a record amount of funding so far, with more than US$600 million (S$820 million) raised from January to September this year, according to the latest figures from Enterprise Singapore (ESG).
Advances in 3-D printing and medical technology will soon make it possible to construct human tissue in a lab, implant it in a patient and watch it grow into the body.
The output of the medical technology manufacturing sector has more than tripled from $1.5 billion to $5.5 billion since 2000.
The region’s healthcare needs reflect its size and growth projections, and the Asia–Pacific med-tech market is expected to rise to about $133 billion a year in 2020, from about $88 billion a year in 2015.
Scientists at Nanyang Technological University, Singapore (NTU Singapore) have created a customisable, fabric-like power source that can be cut, folded or stretched without losing its function.
Performing any kind of surgery requires a great deal of precision. Now, surgeons can use an exact 3D model of the patient’s organs to practice a procedure and hone their skills before performing it on the patient.
As a specialist exhibition on manufacturing processes for medical technology, the 4th edition of MEDICAL MANUFACTURING ASIA will focus on new manufacturing technology and automation which play vital roles in driving innovation and operations.
The initial funding of $18 million came from NUS, the National Additive Manufacturing Innovation Cluster and the Singapore Economic Development Board.
Nanotechnology is becoming a crucial driving force behind innovation in medicine and healthcare, with a range of advances including nanoscale therapeutics, biosensors, implantable devices, drug delivery systems, and imaging technologies.