Tai Seng, Singapore, is an eclectic industrial neighbourhood dotted with local cafés and galleries. Rising eight storeys above Tai Seng’s bustling eateries sits WS Audiology (WSA), the regional headquarters of a renowned Danish hearing aid company.

This unassuming site plays a pivotal role in the global hearing aid industry. One in seven hearing aids worn globally is produced at the site’s high-tech manufacturing facilities. The site is now set to further elevate its contributions by advancing innovations tailored for the Asian market, leveraging Singapore’s position as a leading research and development (R&D) hub and a global leader in medical technology (medtech).

The city’s medtech sector has over 16,000 employees across more than 400 global and local enterprises, including over 50 regional headquarters, 35 manufacturing plants and 25 R&D centres.

Singapore’s healthcare ecosystem is underpinned by world-class infrastructure and robust capital flows. The nation’s strategic location and excellent connectivity position it as a gateway to Asia’s rapidly expanding medtech market, projected to reach $225bn by 2030.

The rapidly ageing Asia-Pacific (APAC) region is driving this demand for healthcare support, where one in four people will be over 60 by 2050.

“Our quantitative and qualitative data show that APAC is no longer just an emerging region but a major driver of it is a critical driver of global medtech growth,” says Scott Pantel, chief executive and founder of medtech market analysis firm Life Science Intelligence, noting APAC has surpassed Europe as the second-largest medtech market, being valued at $132.4bn in 2023.

Fuelling innovation with future-focused policies

Medtech innovation thrives in Singapore, driven by government support and forward-looking regulatory frameworks. Under the government’s Research, Innovation and Enterprise plan, S$25bn ($18.75bn) is earmarked for R&D from 2021 to 2025, with the Agency for Science, Technology and Research’s recent A*Star MedTech Catapult adding S$38mn ($28.5mn) to boost public-private partnerships. The MedTech Catapult initiative aims to accelerate productisation and commercialisation of medtech devices and equipment.

“Singapore boasts a highly developed healthcare system with a strong focus on innovation and quality,” says Thomas Andersen, head of export at the Danish Export Association. “The government’s commitment to investing in healthcare infrastructure investment makes it an ideal testing ground and launch pad for medtech solutions.”

The association helps Danish firms enter international markets by supporting their participation in key medtech exhibitions, including Medical Fair Asia in Singapore - the most established medical and healthcare trade show in south-east Asia.

Singapore’s regulatory environment helps firms facing challenges in gaining adoption for new technologies. The Health Sciences Authority regulates artificial intelligence (AI) and other emerging technologies as medical devices when they are used for diagnosis or treatment. This level of regulation is essential in nascent fields like precision medicine, which uses data to offer tailored treatment options for conditions such as cancer.

“The Singaporean government’s efforts to harmonise regulations with international standards make it easier for medtech companies to navigate compliance and scale their solutions regionally,” says Andersen.

Home to leading conferences and trade shows

Singapore’s business-friendly environment fosters a robust calendar of marquee healthcare industry events, drawing global stakeholders. These gatherings provide a platform for discussing the latest trends and breakthroughs, forging partnerships and securing investment for innovations.

Most recently, Life Science Intelligence (LSI) chose Singapore as its newest destination. With the help of like-minded sponsors, LSI will debut its summit series in the city-state – and in Asia – for the first time with LSI Asia in June 2025.

“Singapore is a masterclass in creating an environment for medtech innovation to thrive,” says LSI’s Pantel. “Its strategic location as the ‘gateway’ to broader APAC markets, combined with a pro-business environment, streamlines the process of establishing operations, attracting investment and scaling quickly.

Pantel highlights Singapore’s world-class research capabilities and advanced manufacturing infrastructure, which enable companies to accelerate innovation and bring complex products to market faster. He adds that businesses benefit from a “deep bench of talent”, a critical asset in a complex industry like medtech.

LSI Asia joins a roster of high-profile conferences and trade shows in Singapore, including the Asia Bio Partnering Forum, Asia Pacific MedTech Forum, HealthTechX Asia (debuting in 2025), and Smart Health Asia (debuting in 2026), all catering to an international audience of thought leaders and industry innovators.

“Singapore’s reputation as an international business hub means MedTech events hosted in the country attract a diverse audience, including also stakeholders from outside of the APAC region,” says Andersen. “This global mix enhances networking opportunities and creates a dynamic platform for cross-regional partnerships.”

A thriving start-up ecosystem

Singapore ranks first in Asia and seventh globally for its start-up ecosystem, according to the Global Startup Ecosystem Report 2024. With support from start-up incubators and accelerators, young companies gain access to capital, expertise and resources. One standout incubator for early-stage companies is Jlabs – a collaboration between pharmaceutical giant Johnson & Johnson and the Singapore Economic Development Board – which says it aims to give “small companies big company benefits”.

Driven by demand for new healthcare technologies, particularly after the pandemic and with AI advancements, Singapore is also fostering breakthrough healthtech innovations. Start-ups are developing pioneering solutions, such as Aevice Health’s wearable devices for respiratory conditions like asthma, which has secured $7mn in funding for expansion.

As multiple healthcare industry events are scheduled throughout 2025, these events are poised to be launchpads for the next wave of start-up breakthroughs.

“To transform healthcare delivery, innovation and collaboration is key. We are excited to host HealthTechX Asia on 21 and 22 May 2025, which will bring the entire Asian healthcare ecosystem together,” says Pinky Fadullon, cluster head of healthcare at Clarion Events, organiser of HealthTechX Asia.

“The event will be a stage for startups to shine, connecting them to the region's most influential companies, investors, healthcare providers and partners, all working towards the common goal of innovation for better care efficiency and patient outcomes.”