Singapore Dental and Medical Clinics Market is Expected to Reach SGD 4.8 Billion by 2022: Ken Research

0


Key Takeaways from Ken Research report titled, Singapore Dental and Medical Clinic Market Outlook to 2022

  • Singapore clinics market is dominated by the private GP clinics which cater to 80% of the primary care demand in Singapore. Major clinics group include Singapore Medical Group, Q&M Dental, TalkMed Group, Singapore O&G, and Healthway Medical Corporation.
  • The market has witnessed the adoption of asset light model by leading clinics group which has enabled them to achieve higher growth rates and increase their cross selling opportunities within different specialization departments.

Ken Research in its latest study, “Singapore Medical and Dental Clinics Market Outlook to 2022 – Led by Inorganic Expansion of Major Clinics and Expansion into More Specialized Services suggests that demand for outpatient services in the market will continue to grow in Singapore owing to increased adoption of healthcare IT systems and rising investment by the private and public sector.

Expected Inorganic Growth in Future

Singapore clinics market will be led by an increase in mergers, acquisitions and joint ventures as large players acquire smaller clinics in order to expand their service portfolio. New Joint Ventures will lead to enhancing technical knowhow resulting in better quality service. The market will be driven by emergence of more specialized group which run on asset light model and rely heavily on growing number of doctors to leverage on economies of scale. Such developments will lead the market towards consolidation.

Increase Healthcare Service Practice and Scope of General Practitioners in Singapore

MOH has proposed methods for the prevention of diseases. Mental health services will be strengthened as polyclinics witness expansion to include mental health facilities. Further, MOH will roll out a scaled up primary care network scheme to provide more support encouraging more number of general practitioners to enter the space. Around 340 GP clinics have joined the Primary Care Network Scheme which involves clinics organizing themselves into networks that support holistic and team-based care. GPs in PCNs are able to share and optimize resources, and they can also share best practices among themselves to better manage care of chronic diseases.

Government Support to open More Primary Care Units

MOH will open more primary care facilities. Keat Hong and Tampines family medicine clinics are to open in 2018 followed by new polyclinics in Pioneer, Punggol and Bedok. New polyclinics in Bukit Panjang, Eunos, Sembawang and Kallang will begin operation in 2020 while those in Yishun and Ang Mo Kio will be redeveloped in 2018. Participation in electronic records system could become a licensing requirement for clinics. This will help in improving the quality of health care services.

Future Growth Factors

Rising focus on high revenue intensity streams along with general OPD services which includes offering specialized services and comprehensive health screening programs coupled with elevating prevalence of chronic and lifestyle diseases will propel Singapore clinics market revenue in future.

Companies Covered: Singapore Medical Group, Q&M Dental Group, ISEC Healthcare, TalkMed, Singapore O&G, Healthway Medical Corporation, HC Surgical Specialists Limited and Unity Denticare

For more information on the research report, refer to below link:

https://www.kenresearch.com/healthcare/general-healthcare/singapore-medical-dental-clinics-market/149666-91.html

Related Reports by Ken Research:

https://www.kenresearch.com/healthcare/general-healthcare/indonesia-healthcare-market/143541-91.html

https://www.kenresearch.com/healthcare/general-healthcare/vietnam-healthcare-market-report/142714-91.html

https://www.kenresearch.com/healthcare/general-healthcare/india-online-healthcare-services-market-report/3568-91.html

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

Share.

Comments are closed.