Singapore Healthcare Market Research Report-Ken Research

0


Research Methodology – Market Definitions

Pharmaceutical Market: The pharmaceutical market includes the revenue generated from the domestic sales of medicinal drugs (domestically produced and imported) to private and public hospitals, pharmacies, drugstores, polyclinics, clinical labs and doctors at manufacturers’ price. Revenue from vitamins and dietary supplements sales is not included.

Medical Devices Market: The medical devices market includes total spending by public and private hospitals, clinical laboratories, polyclinics, GP clinics and medical research and education institutes on diagnostic imaging equipments, medical consumables, orthopedics and prosthetic devices, patient aid devices and several other medical equipments. Imported, exported and domestically manufactured medical devices have been considered.

Hospital Market: Singapore hospital market includes revenue generated by public and private hospitals established in Singapore. Revenue from outpatient and inpatient services has been considered. Revenues from public and private hospital have been tabulated in the market. Revenue from pharmacy retail though pharmacies located in hospitals has been included. Revenue stream such as lab revenues has also been considered. Revenue generated from walk-in patients for laboratory tests has not been considered. Hospitals with more than 50 beds have been considered.

Clinics Market: Clinics market includes the revenue generated by private medical and dental clinics established in Singapore. These clinics provide general and specialized consultation and emergency care services to their patients. The revenues have been considered to the extent of consultation charges. Medication and other treatment cost are not included in the market. Public clinics have not been included in the market.

Pharmacy Retail Market: This includes the revenue generated from the sale of drugs and private label goods by pharmacies in Singapore at retailer’s price. Sale from independent pharmacies and clinic based pharmacies has been considered.

Contract Research Organization Market: Contract Research Organization market includes the revenue generated from the clinical trials in Phase I, Phase II, Phase III, and Phase IV by contract research organizations to domestic and international pharmaceutical companies located in Singapore. The market also includes the revenue generated from pre clinical trials, data management, biostatistics, central laboratory services and pharmcovigilance, bioanalytics and Health Economics and Outcomes Reach (HEOR) services.

Patented Drug: These are drugs which are covered under patent protection, means that only the pharmaceutical company holding a patent is allowed to manufacture, market the drug and eventually make profit from it.

Generic Drug: These are drugs that are comparable to a brand/reference drug product in dosage form, strength, quality and performance characteristics, and intended use. Once a patent for a patented drug expires, generic versions of the same can be produced.

Prescribed Drugs: These are drugs that can be sold by a pharmacy only upon prescribed by a registered healthcare practitioner.

OTC Drugs: These are drugs which do not need any prescription and can be purchased directly from any pharmacy or drug store.

Dietary Supplements Market: The dietary supplements market of Singapore is the sum total of revenue generated by the market players from domestic sales of supplement product intended for ingestion and is made up of ingredient that further add to the nutritional value to the diet. A dietary ingredient could be one or combination of various substances including vitamins and minerals, herbal supplements, protein and amino acid supplements, Probiotics, omega 3 fatty acids, and other concentrate, metabolite, constituent or extract of the nutrient.

Vitamins and Minerals Market: The vitamins and minerals market of Singapore is the sum total of revenue generated by international and domestic companies from the domestic sales of dietary supplements with major ingredients as vitamins and minerals, individually or mixed in any proportion

Medical Clinics: Medical clinics are defined as healthcare institutions which offer general and specialized outpatient services in Singapore. Specialized services include cardiology, endocrinology, gastroenterology, general surgery, infectious diseases, O&G, medical oncology, ophthalmology, ENT, pediatrics, psychology, radiology, urology and others.

Dental Clinics: Dental clinics are defined as healthcare institutions which offer general and specialized outpatient dental services. Specialized services include dental implants, endodontic, cosmetic dentistry, oral surgery, laser dentistry, dentures and others.

Public Hospitals: Public health facilities refer to those owned or controlled by a government unit or another public corporation (where control is defined as the ability to determine the general corporate policy).

Not-for-profit hospitals: Not-for profit health facilities refer to those producing health goods and services, but are not permitted to be a source of income, profit or financial gain for the unit that establish, control or finance them.

Private Hospitals: Private health facilities refer to those set up for the purpose of producing health goods and services and are capable of generating a profit or other financial gains for their owners.

Acute Hospitals: Acute hospitals comprise both general hospitals and specialty centres (excluding Psychiatric Hospitals) with acute care inpatient and outpatient facilities.

Psychiatric Hospitals: Psychiatric hospitals are those hospitals which offer a comprehensive range of psychiatric, rehabilitative and counseling services in the field of mental health.

Community Hospitals: Community hospitals are those hospitals which cater to rehabilitation, geriatric care and coalescing patients. They are usually funded by charities or religious groups, with assistance from government funds and/or public healthcare professionals.

Preclinical market: This includes studies that yield preliminary efficacy, toxicity, pharmacokinetic and safety information which determine whether a drug is ready for clinical trials.

Clinical Data Management market: Clinical Data Management involves the process of collection, documentation, and data storage, which are critical for clinical trials or procedures and to biotechnology companies and pharmaceutical manufacturers.

Biostatistics Market: Biostatistics market involves statistical processes and methods which are applied to the collection, analysis, and interpretation of biological data and especially data relating to human biology, health, and medicine.

Pharmacovigilance market: Pharmacovigilance market involves the science and activities involved in the detection, assessment, monitoring and evaluation of adverse events or any drug related problems of the medicinal products.

Bioanalytics Market: Bioanalytics market involves analytical chemistry which covers the quantitative measurement of xenobiotics (drugs and their metabolites, and biological molecules in unnatural locations or concentrations) and biotics (macromolecules, proteins, DNA, large molecule drugs, metabolites) in biological systems.

HEOR Market: HEOR (Health Economics And Outcomes Reach) market uses clinical and economic evidence to determine the value of drugs, and looks at the factors that can affect this.

Radiology Laboratories: Radiology clinics are those which offer medical imaging to diagnose or treat diseases. A variety of imaging techniques such as X-ray radiography, ultrasound, computed tomography (CT), nuclear medicine including positron emission tomography (PET) and magnetic resonance imaging (MRI) are used to diagnose or treat diseases.

Clinical Laboratories: Clinical laboratories market includes the number of radiology and pathology labs located in Singapore.

Research Methodology – Abbreviations

AIDS: Acquired Immune Deficiency Syndrome

HIV: Human Immunodeficiency Virus

MoH: Ministry of Health, Singapore

NCD: Non-Communicable Disease

OTC: Over-the-Counter

UHC: Universal Health Coverage

USD: United States Dollar

SGD: Singapore Dollar

WHO: World Health Organization

CRO: Contract Research Organization

HSA: Health Sciences Authority

GP: General Practitioner

PCN: Primary Care Network

GCP: Good Clinical Practices

Research Methodology – Consolidated Research Approach

Hypothesis Creation: The research team has first framed a hypothesis about the market through analysis of existing industry factors obtained from magazines, journals, broker reports, investor presentations and annual reports of major companies and several articles. The team has used both public and proprietary databases to define and collect each market data point such as overall market size, segmentations and estimated future growth.

Hypothesis Testing: The research team conducted computer assisted telephonic interview (CATI) with several industry professionals including decision makers in all segments of healthcare market which included medical devices, pharmaceuticals, hospitals, and clinical laboratories. The industry professionals included several retailers, wholesalers, importers and distributors of medical devices and pharmaceutical products and doctors, management executives, financial analysts and other higher level authorities. The analyst at Ken Research collated their insights on the market onboard and to seek justification to the hypothesis framed by the team. Additionally several B2B clients from different sectors including government offices, clinics, diagnostic centers, and hospitals in the ecosystem have been interviewed to understand their perspectives, needs, requirements and the prices they are willing to pay for procuring medical devices and pharmaceutical drugs.

Sanity Checking @ Decision Tree Analysis: General consensus on data collected from primary research and public and proprietary databases has been reached by conducting in-house decision tree analysis of the data points available and by comparing it with macro-economic factors. Data has been collected and verified through cross-sanity checking between primary and secondary sources. Secondary data sources include the analysis of existing industry factors, obtained from company reports and from magazines, journals and online articles. The secondary data sources are used to form the initial perception and contention on several forces playing their role in determining the future growth in the industry.

Future Forecasting via Poll Opinions and Statistical Tools: Multi-Factor regression and scenario analysis was conducted on the lag variables i.e. on the historical market size of the industry by identifying the independent and quantifiable variables directly affecting the market. The forecasting was done by using SPSS statistical tools. The variables were checked for multi-co-linearity and other bias that could be present in the model. The conclusion from the regression was then double-checked by conducting poll opinions. Structured interviews were conducted through telecom with several industry veterans including major decision makers from Guardian Pharmacy, Unity Pharmacy, Novena Medical Center, Acumed Clinic, Clinical and Path Lab, Reste Lab, Sam Clinical Laboratory and others. These interviews helped the research team to authenticate the data collected from secondary data sources and to reject or accept the hypothesis regarding the future projections.

Interpretation and Proofreading: The final analysis will then be interpreted in the research report by our expert team well versed with the Healthcare Market.

For more information about the publication, refer to below link:-

https://www.kenresearch.com/healthcare/general-healthcare/singapore-healthcare-market/154981-91.html

Related Reports:-

https://www.kenresearch.com/healthcare/general-healthcare/saudi-arabia-healthcare-market-research-report/1106-91.html

https://www.kenresearch.com/healthcare/general-healthcare/uae-healthcare-market-report/37505-91.html

https://www.kenresearch.com/healthcare/general-healthcare/qatar-healthcare-market-report/99730-91.html

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

Share.

Comments are closed.