How Singapore Dental and Medical Clinics Market will Shape up in Future?: Ken Research 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