Number of Pharmacies Singapore, Number of Hospitals Singapore-Ken Research

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Singapore Healthcare Market is Driven by
Expansion of Major Healthcare Institutions and
Favourable Government Initiatives to support
Medical Tourism Ken Research
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Implementation of Medishield Life by the
government, growing public and private
partnerships in RD activities, expansion of
service and product portfolio by major private
hospital chains and pharmaceutical companies were
the key factors driving growth in Singapore
Healthcare Market. The report titled Singapore
Healthcare Market Forecast to 2022 - by Type of
Clinics (Medical and Dental), by Type of Hospital
(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) by Ken Research suggested a positive
CAGR of 6.8 in terms of healthcare revenues
during the period 2018-2022. During 2012-2017,
Singapore healthcare witnessed increase in number
of outpatients, growing demand for specialized
services in geriatric care chronic disease
treatment, greater investment in manufacturing
activities by top global pharmaceutical medical
device companies and adoption of technology to
move towards integration of healthcare services.
Macro trends positively affecting the hospital
market include ageing population, rising chronic
disease prevalence, escalating healthcare needs
and increasing complexity of care needs. The
market faces certain challenges in terms of
slowdown of medical tourism, retention of quality
doctors, rising healthcare inflation and growing
competition.
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Singapore Pharmaceutical market can be
characterized by the presence of best-in-class
infrastructure, integrated and advanced hubs for
pharmaceutical manufacturing and research and
access to regional markets and skilled workforce.
8 out of 10 of the global pharmaceutical
companies have established their manufacturing
and RD facilities in Singapore which act as
major hubs for the Asia Pacific region. The
clinics market has witnessed significant number
of mergers and acquisitions in order to widen
their service portfolio to include specialized
services. For instance, HC Surgical Specialists
Limited expanded into medical-related services
with the acquisition of Medical L C Services
Pvt Ltd. The pharmacy retail market in Singapore
which is dominated by 3 major chains namely
Watsons Pharmacy, Guardian Pharmacy, and Unity
Pharmacy launched various healthcare programmes
and patient care centers to encourage higher
patient compliance in the management of the
chronic disease. For instance, Watsons Singapore
and the National University of Singapore pharmacy
department launched a new Diabetes Care Programme
in 2017. The market has witnessed enhancing
innovation in nutritional health segment and
biopharmaceuticals due to growing prevalence of
lifestyle diseases such as diabetes, hypertension
and obesity. In order to capture the market
potential, the industry has observed various
mergers and acquisitions over the last few years.

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Further, number of Tech-based healthcare
start-ups have come up to offer more personalized
and convenient services from service providers in
the healthcare sector. Several start-ups based in
Singapore, such as Cardiatrics, RingMD and PX
Plate, are making healthcare services more
accessible by bringing doctors, medical services
and healthy eating right to the user's
smartphone. This will further lead to integration
of healthcare services in the country. Products
Covered- Singapore Private and Public Hospitals
(Inpatient Outpatient and by Acute, Community
Psychiatry Hospitals), Pharmaceutical
(Prescription OTC Drugs, by Patented Generic
Drugs), Pharmacy Retail (by drugs private label
goods and by region), Clinics, Contract Research
Organization (by Therapeutic Class by Clinical
Trial Phase), Medical Devices (by type of medical
devices, and by end user) Companies
Covered- Singapore Medical group, QM 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
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care/general-healthcare/singapore-healthcare-marke
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