18.3 Sectors in Singapore that make up Singapore’s Bioeconomy
Agriculture, Animal Production and Fisheries
Singapore dedicates approximately one percent of its land area to agricultural activities, with a focus on producing eggs, seafood, and vegetables for local consumption. The country hosts both land-based food farms and sea-based farms, mainly involved in aquaculture. Sea-based farms cultivate various fish species for the live fish market and supermarkets, including Asian seabass, milkfish, mullet, and others. Singapore also engages in the export of agricultural items such as orchids, ornamental plants, and ornamental fish. The country is known for its high-quality cut orchids and ornamental fish. Singapore is actively investing in sustainable food production, urban farming, and alternative protein sources to promote food security and sustainability, contributing to innovative food solutions. However, there is limited available data on Singapore’s bioeconomy sector. (Tortajada & Zhang, 2016).
Biomedical Sciences
This sector is a cornerstone of Singapore’s bioeconomy and includes pharmaceuticals, biopharmaceuticals, medical technology, and healthcare services. Singapore has established itself as a leading hub for biomedical research and innovation, attracting both local and international companies. The country is home to biomedical research institutions, advanced manufacturing facilities, and a skilled workforce dedicated to advancing healthcare solutions (Tortajada & Zhang, 2016). Through the Biomedical Sciences Initiative, the government has provided billions of dollars for life sciences research (BMSI)