Singapore medical tourism market is
expected to grow at a steady CAGR in the forecast period. Singapore boasts of
one of the best healthcare infrastructures across the globe and provides
quality treatment to patients equipped with healthcare professionals and
advanced medical equipment. Healthcare services are generally provided by
public hospitals at affordable rates. The growing population around the globe
and the rise in the geriatric population who are more prone to getting affected
with several diseases is expected to create lucrative opportunities for the
medical tourism market growth. There is high demand for treatment services in
medical tourism for diseases including cosmetic surgery, heart surgery,
dentistry, reproduction-related problems, weight loss treatments, terminal
diseases such as cancer, amongst others. International medical patients prefer
to visit Singapore for the whole range of medical care from health screenings
to expensive medical treatments as it is a medically advanced country. Initiatives
are taken by the medical healthcare facilities in Singapore to attract patients
such as at some hospitals, patients can view the medical records through the
help of an online channel, order meals, and shop online with the facility to
deliver the products to the location of patient choice.
Singapore medical tourism market is
segmented into type, services, regional distribution, and company. Based on the
services, the market can be divided into orthopedic surgery, cardiac surgery,
cancer treatment, neurology & neurosurgery, cosmetic surgery, and others.
The cancer treatment segment is expected to account for the major medical
tourism market in the forecast period, 2022-2026. The increasing prevalence of
cancer around the world and requires treatment for a long duration. The growing
need for quality and efficient treatment and unavailability of quality
treatment services in some countries is attracting patients to avail medical
tourism facility is expected to fuel the market growth in the next five years.
The major players operating in the Singapore
medical tourism market are Mount Elizabeth Hospital, National
University Hospital, Raffles Hospital (Raffles Medical Group), National Cancer
Centre, National Heart Centre Singapore, National Dental Centre, Singapore
General Hospital, Changi General Hospital, Gleneagles Hospital, National Skin
Centre, Johns Hopkins Singapore International Medical Centre, Tan Tock Seng
Hospital, Farrer Park Hospital, and others. Major companies are developing
advanced technologies and launching new services to stay competitive in the
market. Other competitive strategies include mergers & acquisitions and new
service developments.
Years
considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2026
Objective of the Study:
- To analyze the historical growth of the market size of Singapore
medical tourism market from 2016 to 2019.
- To estimate and forecast the market size of Singapore medical
tourism market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast Singapore medical tourism market based on type,
services, regional distribution, and company.
- To identify dominant region or segment in the Singapore medical
tourism.
- To identify drivers and challenges for Singapore medical tourism.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in Singapore medical tourism.
- To identify and analyze the profile of leading players operating in
Singapore medical tourism.
- To identify key sustainable strategies adopted by market players in
Singapore medical tourism market.
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TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of service providers across the globe. Subsequently, TechSci Research conducted
primary research surveys with the identified companies. While interviewing, the
respondents were also enquired about their competitors. Through this technique,
TechSci Research could include the service providers who could not be
identified due to the limitations of secondary research. TechSci Research
analyzed the service providers, distribution channels and presence of all major
players across the globe.
TechSci
Research calculated the market size of Singapore medical tourism market using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Medical Tourism service providers, hospitals, end users, and other stakeholders
- Market research and consulting firms
- Healthcare centers, distributers and suppliers of
the services and other stakeholders
- Organizations, forums, and alliances related
to medical tourism market
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as service
providers, suppliers and partners, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Singapore medical
tourism market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
·
Singapore Medical Tourism Market, By Type:
- Singapore Medical Tourism Market, By Services:
- Orthopedic
Surgery
- Cardiac
Surgery
- Cancer
Treatment
- Neurology
& Neurosurgery
- Cosmetic
Surgery
- Others
- Singapore Medical Tourism Market,
By Region:
o Central &
East Region
o West Region
o North Region
o North-East
Region
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in Singapore medical tourism market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Singapore medical tourism
market is an upcoming report to be released soon. If you wish an early delivery
of this report or want to confirm the date of release, please contact us at [email protected]