Updated on 19 June 2013
Another indicator of the good tidings is the fact that suppliers to the industry are expanding in China. For example, Thermo Fisher Scientific opened its new manufacturing facility in Suzhou, for sciences consumables and equipment, in the last quarter of 2012. The company is strengthening its local production capabilities to meet increased customer demand in China and other Asia Pacific markets. It has invested $20 million in its Suzhou plant that will employ about 150 people. Another technology supplier company, PerkinElmer acquired Shanghai Haoyuan Biotech, a China-based infectious disease diagnostics company for $38 million to expand its capabilities into nucleic acid blood screening and the growing molecular clinical diagnostics market in China.
These companies are getting inspired not just by the potential of current and latent demand in China for their products and services but also by the concrete measures that the China government is showcasing in moving on its 12th five-year-plan (2011-15) to develop strategic industries that includes pharmaceutical and healthcare among others. Much has been written about India and China bioscience in BioSpectrum and elsewhere.
However, as the just concluded BioSpectrum Asia Pacific Bioscience Industry Survey 2013 showcases, the smaller markets of the region, like Taiwan, Malaysia and Singapore are also shining. Featured in this issue, these markets have found their niche and are leveraging their competencies to emerge as global hub in their respective niche and have grown in respectable double digits during 2012.
BioSpectrum's effort to bring you market insights continues. Our next issue in June will feature the consolidation activity in these markets and focus on the talent pool engaged in the bioscience industry. And feedback on this survey and analysis is welcome.