How Singapore Dental and Medical Clinics Market will Shape up in Future?: Ken Research

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Expansion of service portfolio by major public and private clinics, rising focus on geriatric care services and increased adoption of asset light model were the key factors driving growth in Singapore clinics Market.

As per Ken Research’s Market Report titled, Singapore Medical and Dental Clinics Market Outlook to 2022 – Led by Inorganic Expansion of Major Clinics and Expansion into More Specialized Services, the dental and medical clinic market will grow at a robust CAGR of 11.8% in revenue till 2022.

Medical Clinics Dominated by Private GP Clinics

Singapore clinics market inclined at a positive CAGR during 2012-2017. The market is dominated by the private GP clinics which offer specialized and integrated services.

Macro trends positively affecting the clinics market include ageing population, rising chronic disease prevalence; escalating healthcare needs and shift towards preventive care services. In order to provide integrated healthcare services, major hospital groups such as IHH Healthcare Berhad, Raffles Medical and Health Management International have expanded their service offering to include primary healthcare services through GP clinics. Rising complexity of diseases and growing affluent population has led to increased demand for specialist wellness services. Increasing number of clinics such as Singapore Medical Group has adopted the asset light model though it still remains a relatively new concept. Investors find it more risky due to revenue concentration risk from a few doctors, and high dependence on mergers & acquisitions which poses higher execution and integration risk. In spite of the risks involved; such players are able to achieve high rates of growth and are better able to consolidate the market due to rapid expansion and increased cross selling opportunities.

Expected Consolidation in Future

Major players  such as Q&M dental,  have undertaken various mergers and acquisition  in the past few years in order to widen their scope of services and increase their geographic presence which has increased accessibility in underserved areas. For instance, HC Surgical Specialists Limited expanded into medical-related services with the acquisition of Medical L & C Services Pte Ltd. It provides home care and palliative care to both private and government subsidized patients. Other players such as TalkMed and Singapore O&G have implemented various organic growth strategies. For instance, Singapore O&G established its dermatology segment in 2016 and pediatrics segment in 2017.

Growing Outpatients

The market is expected to witness an increase in number of outpatients due to rising focus on preventive care services and growing awareness about various medical diseases and prevention.

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

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