Singapore Hospital Market is Expected to Reach SGD 9.5 Billion by 2022: Ken Research Ken Research in its latest study, “Singapore Hospital Market Outlook to 2022 - by Public, Private Hospital & Not-for-Profit Hospital, by Inpatient & Outpatient, by Acute, Community & Psychiatry Hospitals”, suggests that demand for hospital services in the market will continue to grow in Singapore owing to increased adoption of healthcare IT systems and rising investment by the public sector.
The hospital market in Singapore witness reorganization of public healthcare system into three integrated clusters to better meet Singaporeans’ future healthcare need namely Central region (National Healthcare Group (NHG) and Alexandra Health System (AHS), Eastern region (Singapore Health Services (SingHealth) and Eastern Health Alliance (EHA), Western region (National University Health System (NUHS) and Jurong Health Services (JurongHealth)). • The market growth rate declined during 2012-2016 due to slowdown in medical tourism due to rising competition from neighboring countries such as Malaysia, Indonesia and Thailand. • The hospitals market is dominated by public hospitals with major hospitals being Singapore General Hospital, Changi general Hospital, Khoo Teck Puat Hospital, and Tan Tock Seng Hospital. 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 which will act as a containment facility in the event of an outbreak similar to the severe acute respiratory syndrome (SARS). Further, the government
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