New Delhi, June 24, 2018: The report titled “Singapore Medical and Dental Clinics Market Outlook to 2022 – Led by Inorganic Expansion of Major Clinics and Expansion into More Specialized Services” covers dental and medical clinics market segment by region, growth driver, restraints, government regulations, competitive landscape of major players in the Singapore clinics market including Singapore Medical Group, Q&M Dental Group, ISEC Healthcare, TalkMed, Singapore O&G, Healthway Medical Corporation, HC Surgical Specialists Limited and Unity Denticare. The report concludes with market projections for future and analyst recommendations highlighting the major opportunities and cautions.
Singapore Clinics Market Overview
Singapore clinics market inclined at a positive CAGR during 2013 to 2017. The market is at a growing stage with major clinic groups undertaking inorganic methods of expansion and widening their service portfolio. The demand for primary healthcare services has increased due to increase in ageing population and increasing chronic diseases prevalence. Diabetes, hypertension, hyperlipidaemia were the top chronic conditions treated at clinics during the review period. Clinics in Singapore provide primary healthcare services at subsidized rates under CHAS Scheme which includes primary medical treatment, preventive healthcare and health education.
Singapore Clinic Market Segmentation
By Type of Clinic: Medical clinics have accounted for the largest share in the overall Singapore Clinics market revenue in 2017. This is majorly driven by organic and inorganic expansion of large players and adoption of asset light model. Other types of clinics include dental clinics.
By Region: Majority of the clinics are located in the central and north region of Singapore driven by high population, and greater connectivity with other parts of Singapore. Within this region Woodlands and Yishun have the most number of clinics offering dental and family medicine.
Singapore Clinics Market Competition Overview
The clinics market is dominated by private GP clinics which meet majority of the total primary care demand in Singapore. These range from solo practices to medium and large corporate groups. The market has witnessed a rise in number of mergers and acquisitions and major clinics have increased their specialized doctor personnel in order to enter into new medical segments. Leading clinics groups have adopted asset light model in order to attain higher growth rates. Major competition parameters include geographic presence, services offered, doctor personnel, facilities and price.
Singapore Clinics Market Future Potential
The clinics market in Singapore is expected to grow at a double digit CAGR during 2017 to 2022. The market will be driven by emergence of more specialized group which run on asset light model and rely heavily on growing number of doctors to leverage on economies of scale. This will further enhance cross selling opportunities within the group. Such developments will lead to consolidation. Further, the organic growth of the private healthcare sector is expected to improve in the coming years as major players shift focus to offering specialized services. Participation in electronic records system could become a licensing requirement for clinics. This will help in improving the quality of health care services.
For more information on the research report, refer to below link:
Corporate Comm India(CCI Newswire)