The
report titled “Singapore Hospital Market Outlook to 2022 - by Public,
Private Hospital & not-for-Profit Hospital, by Inpatient & Outpatient,
by Acute, Community & Psychiatry Hospitals” provides information on market size for Singapore
hospital. The report covers aspects such as hospital market segment (by public,
private & not-for-profit hospitals, by Inpatient & Outpatient and by
Acute, Community & Psychiatry Hospitals), competitive landscape of major
players in the Singapore hospital market including Singapore General Hospital,
KK Women’s and Children Hospital, Bright Vision Hospital, Changi general
hospital, Raffles Medical group, Tan Tock Seng Hospital, Institute of Mental
Health, Yishun Community Hospital, Khoo Teck Puat Hospital, IHH healthcare
Berhad, and Raffles Medical Group. The report concludes with market projection
for future and analyst recommendations highlighting the major opportunities and
cautions.
Singapore Hospital Market Overview
Singapore
hospitals market increased at a declining rate during 2012-2017. Macro trends
positively affecting the hospital market include ageing population, rising
chronic disease prevalence, escalating healthcare needs and increasing
complexity of care needs. The growth slowdown was majorly due to slowdown in
medical tourism. Backed by greater demand, major hospitals have invested in
expansion strategies. For instance, IHH Healthcare witnessed positive growth in
revenue due to ramp up of Mount Elizabeth Novena Hospital as the hospital added
30 beds. The market witnessed higher inpatient admissions, improvement in
average revenue per inpatient admission due to higher complexity of medical
conditions.
Market Segmentation
By Inpatient and Outpatient: Revenue from outpatients have accounted for the
majority share in Singapore hospital market in 2017. Rest was generated from inpatient
services. This was majorly due to shift in focus towards preventive healthcare
services which augmented the revenues from outpatient services.
By Public, Private & not-for-Profit Hospitals: Most of the hospitals in Singapore are owned
and managed by the public sector. Public hospitals have also accounted for the
larger share of hospitals beds in Singapore in 2017. Rest of the hospitals are
owned and managed by the private sector and not for profit organizations. Public
& private hospitals offer specialized and integrated services whereas
not-for-profit hospitals offer rehabilitative care and palliative care
services.
By Acute, Community & Psychiatric Hospitals: Acute hospitals have accounted for the majority
share in the number of hospitals and number of beds in 2017. Rest of the
hospitals comprise of community and psychiatric hospitals.
Competition Overview
The
hospitals in Singapore are controlled by the public sector, private sector and
not-for-profit organizations. Private hospitals come under high value, low
volume category (high fees, lower occupancy) whereas public hospitals come
under high volume, low value category (low fees, higher occupancy). Public hospitals
are more dedicated towards serving mass population whereas private hospitals
are more inclined towards affluent class and medical tourists. Major hospitals
include including Singapore General Hospital, KK Women’s and Children Hospital,
Bright Vision Hospital, Changi general hospital, Raffles Medical group, Tan
Tock Seng Hospital, Institute of Mental Health, Yishun Community Hospital, Khoo
Teck Puat Hospital, IHH healthcare Berhad, and Raffles Medical Group. Major
competition parameters for private hospitals are facilities, number of beds,
number of hospitals, fees, quality of doctors/medical practitioners and
specialization.
Future Potential
The
hospitals market in Singapore is expected to grow at a positive CAGR during
2017-2022. Singapore hospitals market will be driven by organic expansion of
both public and private hospitals and increased government initiatives in the
healthcare sector to provide better care to the geriatric population. For instance,
Tan Tock Seng Hospital will open new 300 bed infectious disease hospital by
2018 act as a containment facility in the event of an outbreak similar to the
severe acute respiratory syndrome (Sars). Further, the government has revealed
expansion plans for Singapore General Hospital which includes opening of Outram
Community Hospital by 2020, National Cancer Centre Singapore (NCCS) by 2040,
expansion of SGH Accident & Emergency (A&E) Block. Further, rising
competition in the industry may lead major players to undertake mergers and
acquisitions which could drive the industry towards consolidation.
For more information on the research
report, refer to below link:
Related
Reports by Ken Research:
https://www.kenresearch.com/healthcare/general-healthcare/uae-healthcare-market-report/37505-91.html
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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
