Singapore's biomedical research landscape has evolved over the years, moving beyond biologics and pharmaceuticals into new areas of growth.
These include food and nutrition and personal care, said President Tony Tan Keng Yam.
Dr Tan was speaking at a gala dinner held on Wednesday at the St Regis to mark the tenth anniversary of research hub Biopolis.
Located in one-north, Biopolis hosts nine research institutes under the Agency for Science, Technology and Research (A*Star), and nearly 40 corporate research labs.
Biopolis was part of a vision to establish the biomedical sciences as a key pillar of Singapore's economy, said Mr Lim Chuan Poh, chairman of A*Star.
Since 2000, manufacturing output in the biomedical sciences industry has increased nearly four times, from $6 billion in 2000 to $29.4 billion in 2012.
Employment in the industry has also more than doubled, from 6,000 to 15,700 in the same period.