Key Takeaways from Ken Research report
titled, Singapore Dental and Medical Clinic Market Outlook to 2022
·
Singapore
clinics market is dominated by the private GP clinics which cater to 80% of the
primary care demand in Singapore. Major clinics group include Singapore Medical
Group, Q&M Dental, TalkMed Group, Singapore O&G, and Healthway Medical
Corporation.
·
The
market has witnessed the adoption of asset light model by leading clinics group
which has enabled them to achieve higher growth rates and increase their cross
selling opportunities within different specialization departments.
Ken
Research in its latest study, “Singapore
Medical and Dental Clinics Market Outlook to 2022 – Led by Inorganic Expansion
of Major Clinics and Expansion into More Specialized Services” suggests that demand for outpatient
services in the market will continue to grow in Singapore owing to increased
adoption of healthcare IT systems and rising investment by the private and public
sector.
Expected Inorganic Growth in Future
Singapore
clinics market will be led by an increase in mergers, acquisitions and joint
ventures as large players acquire smaller clinics in order to expand their
service portfolio. New Joint Ventures will lead to enhancing technical knowhow
resulting in better quality service. 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. Such developments
will lead the market towards consolidation.
Increase Healthcare Service Practice and Scope of General
Practitioners in Singapore
MOH has
proposed methods for the prevention of diseases. Mental health services will be
strengthened as polyclinics witness expansion to include mental health
facilities. Further, MOH will roll out a scaled up primary care network scheme
to provide more support encouraging more number of general practitioners to
enter the space. Around 340 GP clinics have joined the Primary Care Network
Scheme which involves clinics organizing themselves into networks that support
holistic and team-based care. GPs in PCNs are able to share and optimize
resources, and they can also share best practices among themselves to better
manage care of chronic diseases.
Government Support to open More Primary Care Units
MOH will
open more primary care facilities. Keat Hong and Tampines family medicine
clinics are to open in 2018 followed by new polyclinics in Pioneer, Punggol and
Bedok. New polyclinics in Bukit Panjang, Eunos, Sembawang and Kallang will
begin operation in 2020 while those in Yishun and Ang Mo Kio will be
redeveloped in 2018. Participation in electronic records system could become a
licensing requirement for clinics. This will help in improving the quality of
health care services.
Future Growth Factors
Rising
focus on high revenue intensity streams along with general OPD services which
includes offering specialized services and comprehensive health screening
programs coupled with elevating prevalence of chronic and lifestyle diseases
will propel Singapore clinics market revenue in future.
Companies Covered: Singapore
Medical Group, Q&M Dental Group, ISEC Healthcare, TalkMed, Singapore
O&G, Healthway Medical Corporation, HC Surgical Specialists Limited and
Unity Denticare
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
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