Singapore Auto Finance Market, Auto Finance Industry, Market Revenue, Market Size, Market Shares, Market Future Outlook: Ken Research

How Is Singapore Auto Finance Market Positioned?

The Singapore Auto Finance industry is at a growth stage and is increasingly being supported by modern digital infrastructure and huge loan portfolio. The average cost of car loan in the industry is ~2.4% and~2.7% for a new or used car respectively. Singapore Auto Finance market has grown in the in past few years owing to the favorable policies by Government for expanding green cars sector, increasing average disposable income of people, growing investments by large players for customer satisfaction. Moreover, Emergence of digital finance aggregators, improving infrastructure, rising technological innovations along with increase in use of internet and rising mobile penetration have also led to this expansion in the market.

Market: The Auto Finance market basis credit disbursed as well as loan outstanding had seen relatively average growth in the last few years, recording a CAGR of ~% and ~% during 2015-2020 respectively. The CAGR had grown comparatively at a lower rate owing to less number of cars financed in 2020 due to COVID – 19.Other contributing factors for relatively lower CAGR were high cost of loan, time consuming application process, low vehicle sales growth and more. As of 2020, on an average, 85-90% of the vehicles sold in Singapore were financed.

Singapore Auto Finance Market Segmentation

By Type of Cars Financed

Singapore Auto Finance market is dominated by Used Vehicles in terms of absolute number of vehicles sold as well as financed. However, relatively finance penetration rate is higher for new vehicles than used vehicles in the country owing to higher prices of the former.

By Credit Disbursed

Passenger Vehicles occupy the lion’s share of the total credit disbursed in the Auto Finance Market of Singapore with New Vehicles and Used Vehicles financing almost equally dominating the Passenger Vehicle segment.

By Loan Outstanding

Passenger Vehicles occupy the lion’s share of the loan outstanding in the Auto Finance Market of Singapore with New Vehicles and Used Vehicles financing almost equally dominating the Passenger Vehicle segment.

By Type of Institution

Majority of the Auto Loan Outstanding in Singapore is through Banks owing to the huge loan portfolio offered by them at comparatively lower interest rates.

Competitive Scenario in Singapore Auto Finance Market

The Auto Finance market of Singapore consists of a large number of Domestic as well as international players. However, only top few players occupy lion’s share of the market (basis credit disbursed) making the Industry highly concentrated. Major Baking Institutions involved in Auto Loans Services in Singapore include DBS Bank, Standard Chartered, OCBC, MayBank, and UOB among others. Also, Major Non-Banking Financial Institutions in the country include Hong Leong Finance, Singapura Finance, Sing Investment and Finance and more. The parameters at which the companies are competing are Interest Rate Offered, Clientele, service portfolio, Technology and more.

Singapore Auto Finance Future Outlook and projections

The Singapore Auto Finance industry is expected to increase at a CAGR of 8.9% basis Auto credit disbursed and 1.3% basis Auto Loan Outstanding during 2020 to 2025. The credit disbursed is expected to rise in Singapore at higher than average CAGR owing to higher number of cars financed in the future. The government of Singapore is working towards expansion of Green Car Sales in the country which is expected to increase the demand of ‘Green Car Loans’ in the future years. New Business Models such as Shared Ownership Financing may also emerge in the country in the coming years. Lastly, Industry is expected to move towards a digital growth with the expansion of Artificial Intelligence, Machine Learning, Big Data and more to further simplify loan application process.

Key Segments Covered:-

By Type of Cars Financed- (Units)

New Vehicles

Used Vehicles

By Credit Disbursed (By SGD Billion)

Commercial Vehicles

Passenger Vehicles

New Vehicles

Used Vehicles

Motorcycles

By Loan Outstanding (By SGD Billion)

Commercial Vehicles

Passenger Vehicles

New Vehicles

Used Vehicles

Motorcycles

By Type of Institution (Loan Outstanding) (SGD Billion)

Banks & Subsidiaries

Finance Companies

Others

Companies Covered

(Banks)

DBS Bank

UOB

MayBank

OCBC

Standard Chartered Bank

(Finance Companies)

Hong Leong Finance

Singapura Finance

Sing Investment & Finance

Singapore Auto Finance Property Holdings

Credit Master

Carro

SG Cash N Cars

Speed Credit

SF Holdings

Accord Motoring

Vincar

Goldbell Financial Services

Capitall

Money Max Leasing

Key Target Audience

Existing Auto Finance Companies

Banks

OEM Dealerships

Captive Finance Companies

Credit Unions

Private Finance Companies

New Market Entrants

Government Organizations

Investors

Auto mobile Associations

Auto mobile OEMs

Time Period Captured in the Report:-

Historical Period: 2015-2020

Forecast Period: 2020-2025

Key Topics Covered in the Report:-

Comprehensive analysis of Singapore Auto Finance Market and its segments.

Listed major players and their positioning in the market.

Identified major industry developments in last few years and assessed the future growth of the industry.

For More Information on the research report, refer to below link:-

Singapore Auto Finance Market

Related Reports:-

Philippines Auto Finance Market Outlook to 2024- Growing Prominence of Captive Finance and Surge in Used Car Sales Supporting Disbursement for Auto Loans

Thailand Auto Finance Market Outlook to 2024: Growing Prominence of Captive Finance Companies and Loan Portfolio of Banks acting as a Catalyst for Market Growth

Qatar Auto Finance Market Outlook to 2023 –By Banks, Non Banking Financial Companies and Captives, By New and Used Vehicles Financed, By Type of Vehicle Financed (Motor Bikes, Cars and Light Commercial Vehicles) and By Loan Time Period

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

Global Rapid Reagent Dispenser Market- Growth, Trends, Size, Share, Covid-19 Impact & Forecasts (2021-2027): Ken Research

Point-of-care testing entails of numerous factors such as electrolytes, blood, glucose and hematocrit. These requires dissimilar bio fluid or reagents in diverse minute cavities on a small-cassettes for one time simultaneous testing. Such tests demand extremely standardized outcomes in testing by testing and in cassette by cassette. Also, several cassettes are demanded to be prepared each month. The dependability of reagent quantity dispensed on dissimilar reagents and repetitive operations thus are decisive for point-of-care testing. Therefore, constant reagent dispensing is a crucial procedure in point-of-care testing. Capacity production capability is also another foremost.

Exact dispensing of reagents for the assemblage of lab-on-a-chip systems and point-of-care devices delivers adjustability, constancy, volume production, linearity, capability and accurateness while minimizing contamination. Foremost point-of-care corporations have by now adopted precise company products. The reagent quantity is reliant on subject cavity sizes and test items. Linearity on reagent dispensing is very beneficial for the alteration since it enables cassette producers review reagent volumes by altering dispensing aspects: linearity is a third key feature for reagent dispensing. Contamination is not tolerated for such point-of-care devices. Decreasing the contact between unnecessary specimens and tools is demanded.

No contact dispensing therefore is the fourth foremost feature. Lab-on-a-chip applications require dispensing by speedy reagent dispensers of micro fluids like reagents and propelling or controlling fluid flow on a chip for drug discovery, life science, ecology research and biotechnology.

According to the report analysis, ‘Global Rapid Reagent Dispenser Industry Research Report 2021 Segmented by Major Market Players, Types, Applications and Countries Forecast to 2027’ states that Thermo Fisher Scientific, BioDot, PerkinElmer, INTEGRA Biosciences, BioTek Instruments and many more are the key entities which recently operating in the global rapid reagent dispenser industry for leading the highest market growth and registering the great value of market share around the globe during the near future while decreasing the associated prices of such, delivering the better consumer satisfaction, analysing the strategies and policies of government as well as entities, employing the young and active personnel, improving the qualitative and quantitative measures of such, implementing the policies and strategies of enlargement and profit making, increasing the applications and benefits of such, spreading the awareness connected to the benefits of such, establishing the several research and development programs and forming the strategies to enter into new market.

By types, the Global Rapid Reagent Dispenser Market is categorized into bulk reagent dispensers and multi-drop reagent dispenser. By applications, the global rapid reagent dispenser market is classified into hospitals, ambulatory surgical centers, contract research institutes, medical institutes and diagnostic laboratories.

The organized players in the global rapid reagent dispenser are effectively implementing the policies of enlargement such as joint venture, new product development, amalgamation, amalgamation, merger and acquisition and several others for obtaining the competitive edge, ruling around the globe and generating the high percentage of revenue. Therefore, in the near years, it is predicted that the market of rapid reagent dispenser will increase around the globe more effectively over the forthcoming years.

For More Information, refer to below link:-

Global Rapid Reagent Dispenser Market Analysis

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Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

Private hospitals in Philippines have contributed the highest share towards the demand for Medical Devices in the country: Ken Research

Demand for Radiography Devices: General radiography devices and aids are in high demand in the Philippines. High incident rates of lung diseases, heart diseases, kidney diseases, hypertension, and other respiratory diseases prompt hospitals to make enhancements for medical equipment, thus, increasing the demand for general radiography devices such as linear accelerators, electro-cardiographs, ultrasonic scanning machines (ultrasound), magnetic resonance imaging, x-ray and radiation equipment, breathing appliances, electrocardiogram equipment, dialysis machines, and computed tomography apparatuses.

Growth in Demand for Cancer Therapy Equipments: There are around 24 hospitals under the Department of Health (DoH) that will be upgraded and turn into regional centers for cancer as mandated by the National Integrated Cancer Control Act (NICCA), according to Dr. Beverly Lorraine C. Ho, director for the Disease Prevention and Control Bureau of DoH (as of July 2021). The new centers are expected to have linear accelerators, treatment planning systems, computerized tomography stimulators and brachytherapy units. The strategy to establish new centers provides entry opportunities for other companies with the technological solutions for cancer treatment.

Growth in Telemedicine Industry of Philippines: There has been a significant expansion in the telemedicine industry of the Philippines. National Telehealth Center, led by University of the Philippines Manila and National Institutes of Health, has played a crucial role by bringing in modern technological solutions to the rural and urban areas of the country. The National Telehealth Service Program of the Telehealth Center involves physicians available in rural or remote areas to connect to tertiary hospitals of the metro cities via emails and calls for the purpose of tele-consulting. Moreover, Covid-19 has further led to rapid surge in the usage of application of Telemedicine.

Demand for Refurbished and Used Medical Devices: There is a growing demand for refurbished medical equipment in the Philippines. While public and government-owned hospitals tend to purchase only new equipment, the private sector is divided between the market segments of new and refurbished medical equipment. Private hospitals and clinics outside metropolitan Manila often tend to purchase used and refurbished equipment, such as x-rays, cardiology and surgery devices, given their limited budgets. To date, approximately 55% of all medical equipment supplied to hospitals and clinics are refurbished (Source: Interviews with Principal and Distributor for Medical Devices). With the growing demand for extensive healthcare coverage outside the main urban centers, Philippines provide opportunities to tap into this emerging market segment.

Analysts at Ken Research in their latest publication “Philippines Medical Devices Outlook to 2025 (Second Edition)- Rising Cases of Chronic Diseases and Expected Growth in Demand for Cancer Therapy and Dialysis Equipment” believe that the medical devices market in Philippines is projected to grow owing to factors such as increase in equipments demand for devices and centers for cancer in the country, increase in hospitals and clinics, increase in the number of deaths and increase in medical tourism. The market is expected to register a positive CAGR of 11% in terms of revenue during the forecast period 2018-2023E.

Key Segments Covered:-

By Mode of Sales

Direct Sales

Distributor Mediated

By Type of Medical Devices

Medical Consumables

Diagnostic Imaging Products

Dialysis Machine

Cardiac Device

Respiratory Products

Hospital Furniture

Auxiliary Devices

Dental and Orthopedic Products

Ophthalmic Devices

Others

By Diagnostics Devices

Diagnostics Equipment

Diagnostics Consumables

By Diagnostics Equipment

X-Ray

CT Scan

Ultrasound

Electrographic Apparatus

MRI

Others

By Dialysis Devices

Dialysis Equipment

Dialysis Consumables

By Cancer Therapy Equipment

Cancer Therapy Equipment

Cancer Therapy Consumables

By End Users

Hospitals

Clinics and Diagnostic Lab Centers

Others (Home Healthcare, Telemedicine Centers)

By Region

Luzon

Visayas

Mindanao

Key Target Audience:-

Hospitals

Medical Device Manufacturers

Healthcare Research Firms

Healthcare Associations

Government Bodies

Distributors

Medical Device Technology Suppliers

Time Period Captured in the Report:-

Historical Period: 2015-2020

Forecast Period: 2021-2025

Manufacturers Covered:-

GE Healthcare

Fresenius Philippines

Siemens Healthcare

Philips Healthcare

Medtronic

BD Healthcare

Terumo Healthcare

B Braun Philippines

Distributors Covered:-

Zuellig Pharma

Zafire

Medilines

Metro Drugs Inc.

Health Solution Enterprises

Berovan Marketing Inc.

Patient Care Corporation

RBGM Medical Express Sales Inc.

Saviour MedDevices Incorporated

Transmedic Group

RG Meditron Inc.

Carestream

Philippine Medical System

Aljeron Medical Enterprise

Progressive Medical Corporation

Fernando Medical Enterprise

Medical One

IDS Medical System

Key Segments:-

Comprehensive analysis of Medical Device Market in Philippines

Listed major Manufacturers and Distributers

Detailed Landscape on Diagnostic Medical Devices Market

Detailed Landscape on Dialysis Medical Devices Market

Detailed Landscape on Cancer and radiation Therapy  

Future Projections by Revenue

COVID Impact

Value Chain Analysis

Government Regulations Supporting the Market

Trends and Challenges

For More Information, refer to below link:

Philippines Medical Device Market

Related Reports:-

Egypt Radiology Equipments Market Outlook to 2025- Growing Healthcare Infrastructure, Rise in Demand for Medical Imaging coupled with High Disease Prevalence to Drive the Demand

Brazil Medical Device Market Outlook to 2025 - by Type of Device (Reagent for In-Vitro Diagnostics, Materials and Supplies, Laboratory Equipment and Others), Type of Business Activity (Import and Local Production), Channel of Sales (Distributor and Direct), Type of End User (Hospital, Clinics and Diagnostic Lab Centers and Others) and By Region (South-East, South, North-East, Mid-West and North)

Indonesia Medical Devices Market Outlook to 2022 - By Medical Consumable Products, Diagnostic Imaging Products, Auxiliary Devices, Orthopedic Implants, Dental Products, Aesthetic Devices, By Imports & Domestic Production

Asia Pacific Orthopedic Device Market Outlook to 2025 – By Country (China, Japan, India, Korea, RoAPAC), By Type of Treatment (Joint, Spine, Trauma and Orthobiology and Sports Medicine); and By Type of End User (Multispecialty and Orthopedic Specialty Hospitals)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249

 

Philippines Medical Devices Philippines Medical Devices Market Outlook to 2025 (Second Edition): Ken Research

The report titled “Philippines Medical Devices Outlook to 2025 (Second Edition) - Rising Cases of Chronic Diseases and Expected Growth in Demand for Cancer Therapy and Dialysis Equipment” provides a comprehensive analysis on the Medical Device Market in Philippines. The report covers various aspects including introduction on Medical Device Market, detailed landscape on Dialysis Devices, Diagnostics Devices and Cancer Therapy Equipments, issues and challenges, trends and developments, Value Chain analysis, competitive landscape and government regulations. The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.

Market Overview

The Philippines Market Device Industry was valued at PHP ~ million in 2015 and registered a positive growth during the review period of 2015-2020 reaching to a value of PHP ~ in 2020.The market is currently in Growth Stage, with an increase in number of hospitals, high prevalence of chronic diseases, rising instances of heart and kidney failures, expanding elderly population, awareness towards health checkups, incoming of medical tourism and onset of COVID-19 pandemic as some of the key drivers for the market. Medical Device Industry in the Philippines is currently import oriented, especially for highly technological machineries such as Diagnostic Imaging, Cardiac Devices, Respiratory products and others. Current demand reflects healthcare requirements for growing incidence of hypertension, diabetes/kidney diseases, TB/respiratory ailments, cancer, and some incidence of HIV/AIDS.

Philippines Medical Device Market Segmentation

By Type of Medical Devices

Medical Consumables have accounted for the largest revenue share in Philippines Medical Devices market in 2020 followed by Diagnostic Imaging product, Respiratory Products, Hospital Furniture, and Cardiac Devices. Dialysis Machine, Auxiliary devices, Dental and Orthopedic products, Radiology Cancer Treatment Products and Ophthalmic Devices have accounted for the least share in the overall market revenue.

Detailed Landscape on Diagnostic, Dialysis and Cancer Therapy Markets

Diagnostic Medical Device Market

In 2015, it has been witnessed that the diagnostic medical device market in terms of revenue was PHP ~ Million, which later grew at a double digit CAGR during the period 2015–2020 and it reached to PHP ~ Million in 2020. Artificial Intelligence (AI) has pervaded the healthcare space and become the absolute game changers, catalyzing immense developments in diagnostics, detection, management and treatment of ailments. In future, it is anticipated that the overall diagnostic medical device market in terms of revenue will reach to PHP ~ Million, at a positive double digit CAGR during the period 2020 – 2025. The rapid surge in overall revenue generation of industry has been majorly observed due to increase in Remote Diagnostic Solutions along with companies offering affordable, higher quality lab testing and diagnostic devices that can efficiently manoeuvre geographical challenges. Demand for ECGs, CT-Scans, X-ray machines, dialysis machines, and other laboratory instruments will remain high, while dermatology services and clinical aesthetics procedures is also anticipated to grow in the near future.

Dialysis Medical Devices

The prevalence of chronic kidney disease (CKD) in the Philippines has emerged as the 7^th leading causes of death. Over the past decade, the number of new cases has increased by about 15% every year; and with uncontrolled diabetes and hypertension as risk factors for kidney disease that could end up requiring a kidney transplant, dialysis is a temporizing measure. In 2015, it has been witnessed that the dialysis medical device market in terms of revenue was PHP ~ Million, which later grew at a double digit CAGR during the period 2015–2020 and it reached to PHP ~ Million in 2020. The companies in the dialysis devices and equipment market are focusing on technological developments to improve the accessibility of the dialysis treatment to patients. Dialysis medical device market is anticipated to grow at a positive double digit CAGR of for the period of 2020-2025F.

Cancer/Radiation Therapy Market

In 2020, around 153,751 new cases of Cancer have been reported in the country, whereas about 92,606 deaths have been recorded in the country due to cancer in the same year. Breast cancer has been ranked 1st in terms of highest number of cancer cases recorded, followed by Lung cancer and Colon cancer. In 2018, it has been witnessed that the cancer/radiation therapy medical device market in terms of revenue was PHP ~ Million, which later grew at a double digit CAGR during the period 2018–2020 and it reached to PHP ~ Million in 2020. Cancer/radiation therapy medical device manufacturers have emerged drastically in the last 3-4 years owing to the rapid increase in the number of cancer patients. The market is currently highly concentrated with the presence of around 2-3 big cancer therapy device manufacturers. Cancer/radiation therapy medical device market is anticipated to grow at a positive double digit CAGR for the period of 2020-2025F. The market’s revenue for the year 2025F is projected to reach PHP ~ Million.

Competition Framework

The competition scenario in the Philippines medical devices market is highly fragmented due to the presence of large number of international companies and local distributors leading to dilution of market share. The international companies including Philips, GE Healthcare, B Braun, Medtronic, BD, Terumo, Fresenius and Siemens distribute their products through authorized distributors located across the country. Medilines, IDS, Zafire, Fernando Medical Enterprise, Health Solution, Lifeline Diagnostics and Patient Care Corporation are the leading medical device distributors in the Philippines. The local companies manufacturing is restricted to production of medical consumables and hospital furniture. The major competitive parameters include product portfolio, price, and distribution network, pricing, after support services and marketing activities.

Future Outlook and Projections

The Philippines Medical Device market is expected to reach to a value of PHP ~ million by 2025. The market will witness a CAGR of ~% during 2020-2025. The market is expected to be import dependent in future as well. In the near future, it is anticipated that the share of distributor in the equipment market will increase and reach to 46.5% by 2025 largely due to better after sale service, liaison with hospitals and offering technical assistance to hospitals and clinics along with the strong local presence in the country. Shift towards usage of more advanced equipment, expansion of private healthcare network, increase in healthcare expenditure and aging population are some of the key factors which will help in the development of Philippines Medical Devices market in future. Prevalence of COVID-19 has also caused a behavioral shift in the way people used to live. Usage of surgical masks, gloves and other related products is now adopted by general public at large.

Key Segments Covered:-

By Mode of Sales

Direct Sales

Distributor Mediated

By Type of Medical Devices

Medical Consumables

Diagnostic Imaging Products

Dialysis Machine

Cardiac Device

Respiratory Products

Hospital Furniture

Auxiliary Devices

Dental and Orthopedic Products

Ophthalmic Devices

Others

By Diagnostics Devices

Diagnostics Equipment

Diagnostics Consumables

By Diagnostics Equipment

X-Ray

CT Scan

Ultrasound

Electrographic Apparatus

MRI

Others

By Dialysis Devices

Dialysis Equipment

Dialysis Consumables

By Cancer Therapy Equipment

Cancer Therapy Equipment

Cancer Therapy Consumables

By End Users

Hospitals

Clinics and Diagnostic Lab Centers

Others (Home Healthcare, Telemedicine Centers)

By Region

Luzon

Visayas

Mindanao

Key Target Audience:-

Hospitals

Medical Device Manufacturers

Healthcare Research Firms

Healthcare Associations

Government Bodies

Distributors

Medical Device Technology Suppliers

Time Period Captured in the Report:-

Historical Period: 2015-2020

Forecast Period: 2021-2025

Manufacturers Covered:-

GE Healthcare

Fresenius Philippines

Siemens Healthcare

Philips Healthcare

Medtronic

BD Healthcare

Terumo Healthcare

B Braun Philippines

Distributors Covered:-

Zuellig Pharma

Zafire

Medilines

Metro Drugs Inc.

Health Solution Enterprises

Berovan Marketing Inc.

Patient Care Corporation

RBGM Medical Express Sales Inc.

Saviour MedDevices Incorporated

Transmedic Group

RG Meditron Inc.

Carestream

Philippine Medical System

Aljeron Medical Enterprise

Progressive Medical Corporation

Fernando Medical Enterprise

Medical One

IDS Medical System

Key Segments:-

Comprehensive analysis of Medical Device Market in Philippines

Listed major Manufacturers and Distributers

Detailed Landscape on Diagnostic Medical Devices Market

Detailed Landscape on Dialysis Medical Devices Market

Detailed Landscape on Cancer and radiation Therapy  

Future Projections by Revenue

COVID Impact

Value Chain Analysis

Government Regulations Supporting the Market

Trends and Challenges

For More Information, refer to below link:

Philippines Medical Device Market

Related Reports:-

Egypt Radiology Equipments Market Outlook to 2025- Growing Healthcare Infrastructure, Rise in Demand for Medical Imaging coupled with High Disease Prevalence to Drive the Demand

Brazil Medical Device Market Outlook to 2025 - by Type of Device (Reagent for In-Vitro Diagnostics, Materials and Supplies, Laboratory Equipment and Others), Type of Business Activity (Import and Local Production), Channel of Sales (Distributor and Direct), Type of End User (Hospital, Clinics and Diagnostic Lab Centers and Others) and By Region (South-East, South, North-East, Mid-West and North)

Indonesia Medical Devices Market Outlook to 2022 - By Medical Consumable Products, Diagnostic Imaging Products, Auxiliary Devices, Orthopedic Implants, Dental Products, Aesthetic Devices, By Imports & Domestic Production

Asia Pacific Orthopedic Device Market Outlook to 2025 – By Country (China, Japan, India, Korea, RoAPAC), By Type of Treatment (Joint, Spine, Trauma and Orthobiology and Sports Medicine); and By Type of End User (Multispecialty and Orthopedic Specialty Hospitals)

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249