With the growing concern related to health the healthcare industry is growing more significantly and make this a billionaire market. Moreover, in this industry the technology is developed more significantly as with the help of technology the dangerous diseases can be identified and several related tests could be done. According to the report analysis, ‘Singapore Healthcare Market Forecast To 2022 – By Type Of Clinics (Medical And Dental), By Hospitals (Private, Public And Not-For-Profit), By Prescription And Otc Drugs, By Type Of Medical Devices (Consumables, Diagnostic Imaging, Patient Aids, Orthopedics & Prosthetics, Dental Products And Others)’ states that Singapore healthcare market is driven by hospital sectors and clinics on the back of improvement in healthcare services and medical tourism. Whereas, Singapore has one of the latest health infrastructure across the globe and due to the aging population and medical tourism the demand for healthcare services will drive in a more significant manner. Most of the costly tertiary health care facilities are served by public medical institutes at reasonable prices whereas, this is enabled by the establishment of MediShield Life which is the National Health Insurance Scheme.
The market of Singapore Hospitals is increased at a declining rate at the period of 2012-2017 whereas, the Macro trends are significantly affecting this market which including rising chronic disease prevalence, ageing population, escalating healthcare needs and several others. The Acute hospitals have accounted for handsome amount of share in the number of hospitals and huge proportion of beds in 2017 followed by psychiatric hospitals and community. Moreover, the Singapore clinics market increased at a significant CAGR at the review period and the industry is at a nascent stage of growing more significantly with the major clinic group’s enterprise inorganic methods of enlarging and surging their facilities portfolio. In the overall revenue generation the medical clinics have accounted for the highest share in Singapore in 2017 which is majorly operated by organic and inorganic expansions of huge number of players and agreement of light asset model.
On the regional basis, the central region by high population and greater connectivity with the other sectors of Singapore had driven the largest number of clinics in Singapore in 2017. Whereas the Northern region has accounted robust concentration of number of clinics in Singapore in 2017 moreover, Woodlands and Yishun have handsome number of clinics which are offering family medicine and dental. Furthermore, northern region is followed by west region, south region and east region.
Singapore Medical Groups, Q&M Dental Group, Singapore General Hospital, Changi General Hospital, GSK, Singapore, Beacon Pharmaceuticals, Guardian Pharmacy, Unity Pharmacy, Singapore Clinical Research Institute, QT Vascular, Biosensors International, National Healthcare Group Diagnostics, Innovative Diagnostics and Radlink are the major companies which are currently functioning more actively in this market and make the market more competitive and attractive which will further attract so many investor which will are support this market financially and effective initiative in the framework of working. Moreover, many of the key players are benefitted with the partnerships, mergers and acquisitions and others which are more helpful in expanding their business profile and status. Therefore, in the coming years it is expected that the Singapore healthcare market will grow in the coming years with the more development in the technology of medicine making and establishment of new clinics over the decades.
Keywords Covered in this report:- Pharmaceutical Market Singapore, Clinics Market Singapore, Contract Research Organization (CRO) Market Singapore, Medical Devices Market Singapore, Healthcare Spending Singapore, Indonesia Healthcare Singapore, Diabetes Prevalence Singapore, Singapore Pharmaceutical Future, Clinics Future Trends Singapore, Number of Pharmacies Singapore, Number of Hospitals Singapore, Type of Medical Devices Singapore, Type of Clinical Laboratory Singapore, Number of Clinical Laboratories Singapore, Number of Clinics Singapore
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Ankur Gupta, Head Marketing & Communications