Expansion of service
portfolio by major public and private clinics, rising focus on geriatric care
services and increased adoption of asset light model were the key factors driving growth in Singapore clinics
Market.
As per
Ken Research’s Market Report titled, Singapore Medical and Dental Clinics Market Outlook to
2022 – Led by Inorganic Expansion of Major Clinics and Expansion into More
Specialized Services, the dental and
medical clinic market will grow at a robust CAGR of 11.8% in revenue till 2022.
Medical Clinics Dominated by Private GP Clinics
Singapore
clinics market inclined at a positive CAGR during 2012-2017. The market is
dominated by the private GP clinics which offer specialized and integrated
services.
Macro
trends positively affecting the clinics market include ageing population,
rising chronic disease prevalence; escalating healthcare needs and shift
towards preventive care services. In order to provide integrated healthcare
services, major hospital groups such as IHH Healthcare Berhad, Raffles Medical
and Health Management International have expanded their service offering to
include primary healthcare services through GP clinics. Rising complexity of
diseases and growing affluent population has led to increased demand for
specialist wellness services. Increasing number of clinics such as Singapore
Medical Group has adopted the asset light model though it still remains a
relatively new concept. Investors find it more risky due to revenue
concentration risk from a few doctors, and high dependence on mergers &
acquisitions which poses higher execution and integration risk. In spite of the
risks involved; such players are able to achieve high rates of growth and are
better able to consolidate the market due to rapid expansion and increased
cross selling opportunities.
Expected Consolidation in Future
Major
players such as Q&M dental, have undertaken various mergers and
acquisition in the past few years in
order to widen their scope of services and increase their geographic presence
which has increased accessibility in underserved areas. For instance, HC
Surgical Specialists Limited expanded into medical-related services with the
acquisition of Medical L & C Services Pte Ltd. It provides home care and
palliative care to both private and government subsidized patients. Other
players such as TalkMed and Singapore O&G have implemented various organic
growth strategies. For instance, Singapore O&G established its dermatology
segment in 2016 and pediatrics segment in 2017.
Growing Outpatients
The
market is expected to witness an increase in number of outpatients due to
rising focus on preventive care services and growing awareness about various medical
diseases and prevention.
For more information on the research
report, refer to below link:
Related
Reports by Ken Research:
https://www.kenresearch.com/healthcare/general-healthcare/indonesia-healthcare-market/143541-91.html
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
No comments:
Post a Comment