Singapore Medical Device Industry Research Report 2024-2033 with Medtronic, Johnson & Johnson, Becton Dickinson, Siemens Healthineers, Boston Scientific and Stryker

Singapore’s Medical Device Industry

Dublin, July 16, 2024 (GLOBE NEWSWIRE) — The Singapore Medical Devices Industry Research Report 2024-2033 has been added to Research & Marketing.com offering.

Singapore Medical Device Market to Reach $3.23 Billion in 2023 According to the publisher, the Singapore medical device market size has shown continuous growth over the past few years. Ranked by the World Health Organization, Singapore boasts the sixth most efficient healthcare system in the world and the fourth best healthcare infrastructure, attracting patients from neighboring Southeast Asian countries and other parts of the world.

An ageing population and the growing burden of chronic diseases, growing demand for high-quality healthcare services and a booming medical tourism industry have been key factors in the rapid growth of Singapore’s medical device industry in recent years. Singapore currently has 19 public hospitals that are the largest customers in the medical device industry, accounting for almost 70% of total demand, while private hospitals are also major consumers of medical devices.

Foreign companies dominate over 80% of the medical device market in Singapore, mainly manufacturing and supplying high-end medical equipment. Major companies include Abbott, Alcon, Becton Dickinson, Medtronic and Siemens Healthineers. The publisher has analyzed that while there are a few local companies operating in the medical device industry in Singapore, these are mostly small businesses, mainly supplying medical supplies.

With an ageing population and an increasing number of patients with chronic diseases, the demand for medical devices in Singapore will continue to grow. The publisher expects the medical device industry in Singapore to continue to be driven by technological innovation and digital transformation in the coming years.

Digital healthcare solutions such as telemedicine, medical data analytics and smart medical devices will gradually gain ground, providing new growth opportunities for Singapore’s medical device industry. However, the industry’s growth is also facing challenges, including increasingly stringent regulatory and compliance requirements that require companies to strengthen their quality management systems. In addition, market competition is becoming increasingly intense.

The publisher predicts that the Singapore medical device industry has significant growth potential in the coming years, driven by factors such as population growth and technological advancements. The market size of the Singapore medical device industry is expected to reach US$7.11 billion by 2033, with a compound annual growth rate (CAGR) of 8.2% from 2024 to 2033.

Topics covered:

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• Singapore Medical Device Industry Overview

• Economic Conditions and Policies for the Medical Device Industry in Singapore

• How Foreign Investment Is Entering Singapore’s Medical Device Market

• Singapore Medical Devices Market Size (2024–2033)

• Analysis of Major Medical Device Manufacturers in Singapore

• Key drivers and market opportunities for Singapore’s medical device industry

• What are the key drivers, challenges and opportunities for the medical devices industry in Singapore during the forecast period 2024-2033?

• Who are the key players in the Singapore medical equipment market and what are their competitive advantages?

• What is the projected revenue of the Singapore medical devices market during the forecast period 2024-2033?

• What strategies have the largest market players adopted to increase their share in the industry?

• Which segment of the Singapore medical devices market will dominate by 2032?

• What are the main adverse factors facing the medical equipment industry in Singapore?

Featured companies

• Medtronic

• Johnson & Johnson

• Becton Dickinson

• Siemens Health

• Boston Scientific

• Stryker Corporation

Key Features:

Main topics:

1. Singapore Overview
1.1 Geography
1.2 Demographics of Singapore
1.3 Singapore’s Economy
1.4. Minimum Wage in Singapore 2015-2024
1.5. Impact of COVID-19 on Singapore’s Medical Device Industry

2. Singapore’s Medical Device Industry Development Environment
2.1. History of the Medical Device Industry in Singapore
2.2. Categories of Medical Devices in Singapore
2.3. Singapore Medical Device Industry Policy

3. Supply and demand in the medical device industry in Singapore
3.1. Supply to the Medical Device Industry in Singapore
3.1.1. Production capacity
3.1.2. Production volume
3.2. Demand from the Medical Device Industry in Singapore
3.2.1. Demand volume
3.2.2. Market size

4. Import and Export of Medical Devices Industry in Singapore
4.1. Import of Medical Device Industry to Singapore
4.1.1. Volume and value of medical device imports in Singapore
4.1.2. Major Medical Device Import Suppliers in Singapore
4.2. Export of Singapore’s Medical Device Industry
4.2.1. Singapore’s Medical Device Export Volume and Value
4.2.2. Main export destinations for medical devices in Singapore

5. Market Competition in the Medical Device Industry in Singapore
5.1. Barriers to entry into the Singapore medical device market
5.1.1. Brand Barriers
5.1.2. Quality barriers
5.1.3. Capital barriers
5.2. Competitive Structure of the Medical Device Industry in Singapore
5.2.1. Bargaining power of medical device suppliers
5.2.2. Consumer bargaining power
5.2.3. Competitive Landscape of the Medical Device Industry in Singapore
5.2.4. Potential participants in the medical devices market
5.2.5. Medical device substitutes

6. Analysis of Major Medical Device Brands in Singapore
6.1. Abbott’s History
6.2. Abbott’s Major Products
6.3. Abbott Operating Model

For more information on this report, please visit https://www.researchandmarkets.com/r/o1xzi1

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