Market Insight: Healthcare & Medical Technologies in Singapore | EU Gateway | Business Avenues

Market Insight: Healthcare & Medical Technologies in Singapore

Healthcare & Medical Technologies in Singapore

Singapore is at the forefront of the Healthcare & Medical Technologies industry in South East Asia, and serves as medical hub for the region. With a fast ageing population and rising income levels, healthcare expenditure in Singapore is expected to grow up to EUR 23.5 billion by 2020.

The Healthcare & Medical Technologies market can be divided into six product categories: in 2015, Consumables took 17.1% of the market size, immediately followed by Diagnostic imaging (16.2%), Patient aids (12.1%), Orthopaedics (9%) and Dental products (5%). Other medical devices accounted for the remaining 40.5% of the market.

There is a lack of domestic competitors in the field of Healthcare & Medical Technologies, and foreign manufacturers dominate the competitive landscape. European companies interested in expanding to South East Asia can find opportunities in the following areas:

  • Medical diagnostics, more particularly in the sub-segment of immunochemistry, point-of-care devices, and molecular diagnostics
  • Products in population health management, like tele-health, tele-monitoring and other healthcare informatics
  • Medical solutions towards functional ageing
  • Solutions that seek to manage obesity-related and chronic diseases like hypertension and diabetes
  • Digital dentistry, including computer-aided design and manufacturing of dental solutions

If you are a European company active in one of these areas, apply now for the upcoming business mission in Healthcare & Medical Technologies in Singapore and Thailand. Deadline for application is 12 May 2017.

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