Singapore aims to provide smart healthcare to people with the help of novel technologies, which is helping the country to withstand the impact of COVID-19 on its healthcare system. This report reveals that the Singapore healthcare market is a strongly growing market in the Asia-Pacific region, with a focus on health technology and research & development. Additionally, telemedicine, electronic health records, patient solutions, medical diagnostics, health management solutions, personal health and fitness, and medical education are some of the areas where technology plays a major role.

Pratibha Thammanabhatla, Medical Devices Analyst at GlobalData, comments: “The COVID-19 pandemic and the rapidly aging population are driving the demand for innovative medical technologies in Singapore.”

Polyclinics in Singapore are adopting new technologies such as virtual systems, and this is making the healthcare delivery more accessible and affordable, especially during the pandemic. Using a virtual system, the attending nurse enters the details of the patient’s medical condition, and the computer algorithm in the device will recommend required tests and consultation with specialists at the National Heart Centre, Singapore. This will provide faster service to patients while eliminating incidental costs that accompany hospital visits, and help the physician attend more patients each day.

Ms Thammanabhatla concludes: “There has been a significant rise in the development and deployment of transformational technologies in healthcare system during the pandemic in Singapore, and this demonstrates the commitment of the country in achieving its aim of providing technology-driven healthcare solutions to its citizens.”

Scope

The report provides information on the healthcare, regulatory, and reimbursement landscape in Singapore, and includes:

• An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers

• Profiles and SWOT analyses of the major players in the pharmaceutical market: Roche, Novartis, Merck, GlaxoSmithKline, and Haw Par

• Profiles and SWOT analyses of the major players in the medical device market: Medtronic, Becton Dickinson, Baxter International, Zimmer Biomet, and Edwards Lifesciences

• An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in healthcare market, HealthTech landscape, reimbursement and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices

• Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure and healthcare expenditure

• An overview of the opportunities for and challenges to growth in the Singaporean healthcare market

GlobalData, the industry analysis specialist, has released its latest report: “CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – Singapore”. The report is an essential source of information on analysis of the healthcare, regulatory and reimbursement landscape in Singapore. It identifies the key trends in the country’s healthcare market and provides insights into its demographic, regulatory, and reimbursement landscape and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It uses data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalData’s team of industry experts.

Singapore’s pharmaceutical market value in terms of US dollars was worth $0.7B in 2012, which increased at a CAGR of 7.4% to $1.0B in 2017. The increasing pharmaceutical market value is attributed to high life expectancy, expansion of healthcare system, developed medical infrastructure, improved patient access, and an increasing number of foreign pharmaceutical companies with a regional headquarters. Singapore’s medical devices market was valued at $2.55B in 2016, and was estimated to be $2.50B in 2019. The rapidly aging population drives demand for innovative medical technologies and therapeutic devices.

Reasons to Buy

This report will enhance your decision-making capability by allowing you to:

• Develop business strategies by understanding the trends shaping and driving Singapore’s healthcare market

• Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact Singapore’s healthcare market in the future

• Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance

• Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership