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Medical technology (medtech) is an industry with good potential. An ageing population, a growing middle class, and a rising chronic disease burden are buttressing demand for medical devices. Nowhere is this potential bigger than in Asia, home to nearly half of the world’s population and ageing rapidly. Demand for healthcare has already outstripped supply, and the gap will only grow.
Singapore is host to one of the region’s biggest medtech clusters. Since it began to foster medtech in 2000 as part of its broader Biomedical Sciences (BMS) Initiative, it has attracted over 60 multinational medtech companies, including the industry’s top ten, which are leveraging on its well-honed capabilities to undertake a range of activities, including regional headquarters functions, manufacturing and research and development.
They are joined by an increasing number of home-grown companies developing cutting- edge innovations that continue to push the envelope on patient care. Today, there are over 220 medtech start-ups developing healthcare solutions.
Stringent Standards
In the medtech industry, quality is a watchword as defects or malfunctions can have severe consequences. To avoid accidents and risks to the patients’ health, there are a number of different standards and regulation systems to follow.
A key standard is the ISO 13485 for medical devices. First published in 1986, it was created to harmonise regulatory requirements for medical device manufacturers on an international scale. To receive certi cation, a medical device organisation needs to demonstrate its ability

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