The complementary health product (CHP) industry is rapidly growing in many regions around the world, including North America, Europe and Asia Pacific. The sector is particularly vibrant in the Asia Pacific region, leading all the other regions around the world across the three main categories of complementary health products – traditional medicines, health supplements and functional foods.
To drive evidence-based research in complementary health products and benefit local CHP enterprises, TP recently established the Centre of Innovation (COI) for Complementary Health Products (CHP), supported by SPRING Singapore under its Capability Development Scheme (Technology Innovation) - Infrastructure.
Designed as a one-stop centre, the COI aims to advance the CHP industry through the provision of consultancy and technical services, training for the CHP workforce, and developing resources for CHP enterprises. In Singapore, approximately 95% of CHP-related enterprises are Small and Medium Enterprises (SMEs) that face challenges remaining competitive in the region. These SMEs will benefit from added support and resources from the COI.
The establishment of the COI is a major milestone in TP’s journey of supporting the modernisation of the complementary health products industry through technology innovation. In line with the national agenda, it will focus on Traditional Medicine research and product development related to ageing.
The COI is set to play a key role in the advancement of the CHP industry in Singapore and the region.