Type of Medical Devices Singapore, Regulations Singapore Medical Device, Market Share Medical Device Singapore : Ken Research - PowerPoint PPT Presentation

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Type of Medical Devices Singapore, Regulations Singapore Medical Device, Market Share Medical Device Singapore : Ken Research

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Digitalization is a key trend in healthcare with the electronic patient record in place and improving communication systems being considered. Telehealth and remote monitoring are being trialed for future implementation. There is also a shift from treatment to preventive care and health promotion, where mobile applications and wearable devices. – PowerPoint PPT presentation

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Title: Type of Medical Devices Singapore, Regulations Singapore Medical Device, Market Share Medical Device Singapore : Ken Research


1
  • Singapore Medical Device Market is Expected to
    Reach SGD 1.6 Billion by 2022 Ken Research

2
  • Ken Research in its latest study, Singapore
    Medical Devices Market Outlook to 2022 - by Type
    of Medical Device (Consumables, Diagnostic
    Imaging, Patient Aids, Orthopedic Prosthetics,
    Dental Products and Others), suggests that
    demand for medical devices in the market will
    continue to grow in Singapore owing to technology
    advancements and rising number of hospitals and
    other healthcare facilities.
  • The medical device market is dominated by foreign
    manufacturers which supply more than 85.0 of the
    medical devices in the country. Leading importers
    include the US, Germany and Japan. Furthermore,
    more than 60 of products imported into Singapore
    are subsequently re-exported.
  • The Ministry of Health is the leading end user of
    medical devices which procures medical devices
    through tender process. MOH follows the
    Price-Quality Method (PQM) to evaluate tender
    proposals.

3
  • The medical device market will incline at a
    healthy growth rate driven by growing investment
    in public and private health care sector and
    emphasis on local production. In 2017,
    Singaporean medical device regulators implemented
    a new priority market pathway that could reduce
    review timeframes for qualifying medical devices
    by up to 35 within two years. Health Sciences
    Authority, Singapore anticipates that the
    priority review scheme will reduce turnaround
    times for premarket reviews for the full
    evaluation routes by 25 by mid-2018, and by 35
    by late 2019. Evaluation fees for the HSA
    priority review scheme are set to increase 15
    over current rates for route 1, while fees for
    full HSA reviews route 2 will increase 50 over
    existing rates. This will allow manufacturers,
    importers and distributors to increase their
    revenue by introducing new and advanced medical
    devices in the market.

4
  • Digitalization is a key trend in healthcare with
    the electronic patient record in place and
    improving communication systems being considered.
    Telehealth and remote monitoring are being
    trialed for future implementation. There is also
    a shift from treatment to preventive care and
    health promotion, where mobile applications and
    wearable devices or the Internet of Things will
    see an increased uptake. Companies with medical
    solutions catered towards functional ageing will
    be able to tap on the Centre for Healthcare
    Innovation and Medical Engineering (CHIME) and
    the Silver Community Test-bed Programme launched
    by Singapores government to launch and test-bed
    age-friendly assistive devices in a real-life
    home setting.
  • Growing demand for home-use medical devices,
    expansion of healthcare facilities coupled with
    rising prevalence of lifestyle and chronic
    diseases will propel the Singapore medical device
    market revenue in future.

5
  • Companies Covered
  • QT Vascular, Biosensors International, Becton
    Dickinson, Optimal Medical Products Pte Ltd, B.
    Braun Singapore Pte Ltd, Alcare Pharmaceuticals,
    and Kingston Medical Supplies Pte Ltd
  • To know more, click on the link below
  • https//www.kenresearch.com/healthcare/medical-dev
    ices/singapore-medical-equipment-market/149667-91.
    html
  • Related Report -
  • https//www.kenresearch.com/healthcare/general-hea
    lthcare/uae-healthcare-market-report/37505-91.html
  • https//www.kenresearch.com/healthcare/general-hea
    lthcare/qatar-healthcare-market-report/99730-91.ht
    ml
  • https//www.kenresearch.com/healthcare/general-hea
    lthcare/saudi-arabia-healthcare-market-research-re
    port/1106-91.html
  • Contact Us-
  • Ken Research
  • Ankur Gupta, Head Marketing Communications
  • sales_at_kenresearch.com
  • 0124-4230204

6
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