Medical Device Import Volume Singapore, Wound care Market Singapore, Opportunities Singapore Medical Device Industry, Medical Device Market Singapore : Ken Research
The medical device market underwent various changes in the licensing process which led to reduced paperwork, shortening of approval timeline and more number of licenses being granted in the past 5 years. This supported the medical device manufacturers and distributors in expanding their product portfolio and supports the expansion of healthcare facilities.
The medical device market underwent various changes in the licensing process which led to reduced paperwork, shortening of approval timeline and more number of licenses being granted in the past 5 years. This supported the medical device manufacturers and distributors in expanding their product portfolio and supports the expansion of healthcare facilities.
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
<strong>Singapore</strong> <strong>Medical</strong> <strong>Device</strong> <strong>Market</strong> is Driven by<br />
Expansion of <strong>Medical</strong> Facilities and Increased<br />
Focus on Home Health<strong>care</strong> Services: <strong>Ken</strong><br />
<strong>Research</strong>
• The report titled “<strong>Singapore</strong> <strong>Medical</strong> <strong>Device</strong>s <strong>Market</strong> Outlook to 2022 - by Type of<br />
<strong>Medical</strong> <strong>Device</strong> (Consumables, Diagnostic Imaging, Patient Aids, Orthopedic &<br />
Prosthetics, Dental Products and Others)” by <strong>Ken</strong> <strong>Research</strong> suggested a growth at<br />
a CAGR of 11.1% in revenue in <strong>Singapore</strong> medical devices market by 2022.<br />
International players have started to focus on new customer centric models such<br />
as e-commerce, home health <strong>care</strong> and DIY health concepts<br />
• Ageing population, expansion of major hospitals and clinical laboratories and<br />
technology advancements were the key factors driving growth in <strong>Singapore</strong><br />
medical devices market.<br />
• <strong>Singapore</strong> has the ability to manufacture high quality products and components,<br />
including some sophisticated medical devices and equipment. This has made<br />
<strong>Singapore</strong> a preferable alternative for sourcing medical devices. <strong>Singapore</strong> medical<br />
device market has inclined at a positive CAGR driven by expansion of health<strong>care</strong><br />
institutions and increased demand for home <strong>care</strong> devices such as Elderly Care<br />
Monitoring Systems (sensors at home, applications, wearable devices). The<br />
number of hospitals increased from 24 in 2012 to 29 in 2016, while the number of<br />
clinics increased from 2,403 in 2012 to 2,961 in 2017.
• The medical device market underwent various changes in the licensing process<br />
which led to reduced paperwork, shortening of approval timeline and more<br />
number of licenses being granted in the past 5 years. This supported the medical<br />
device manufacturers and distributors in expanding their product portfolio and<br />
supports the expansion of health<strong>care</strong> facilities.<br />
• Rise in aging population, increasing incidences of chronic diseases have made the<br />
home health<strong>care</strong> segment an emerging sector, for medical device manufacturers.<br />
Due to rising emphasis on preventive medicine, the demand for testing, screening<br />
and monitoring devices has increased. The potential to reduce health<strong>care</strong><br />
complications and ensure the portability of devices, with high accuracy has created<br />
a significant demand for monitoring and testing devices. Increasing activities of<br />
telemedicine in consultation, surgery, imaging and cardiology have boosted the<br />
demand for advanced technological medical devices.<br />
• Technological advancements coupled with growing prevalence of lifestyle diseases<br />
will propel the market for medical devices in <strong>Singapore</strong>. At present, more than 60%<br />
of medical devices imported into <strong>Singapore</strong> are subsequently re-exported as<br />
<strong>Singapore</strong> acts as a major trading hub importing and exporting all kinds of medical<br />
devices for re-export to third countries
• To know more, click on the link below:<br />
• https://www.kenresearch.com/health<strong>care</strong>/medical-devices/singapore-medicalequipment-market/149667-91.html<br />
• Related Report : -<br />
• https://www.kenresearch.com/health<strong>care</strong>/general-health<strong>care</strong>/uae-health<strong>care</strong>market-report/37505-91.html<br />
• https://www.kenresearch.com/health<strong>care</strong>/general-health<strong>care</strong>/qatar-health<strong>care</strong>market-report/99730-91.html<br />
• https://www.kenresearch.com/health<strong>care</strong>/general-health<strong>care</strong>/saudi-arabiahealth<strong>care</strong>-market-research-report/1106-91.html<br />
• Contact Us:-<br />
• <strong>Ken</strong> <strong>Research</strong><br />
• Ankur Gupta, Head <strong>Market</strong>ing & Communications<br />
• sales@kenresearch.com<br />
• 0124-4230204<br />
•
Change language