Singapore medical tourism market is expected to grow at a steady CAGR in the forecast period. Singapore boasts of one of the best healthcare infrastructures across the globe and provides quality treatment to patients equipped with healthcare professionals and advanced medical equipment. Healthcare services are generally provided by public hospitals at affordable rates. The growing population around the globe and the rise in the geriatric population who are more prone to getting affected with several diseases is expected to create lucrative opportunities for the medical tourism market growth. There is high demand for treatment services in medical tourism for diseases including cosmetic surgery, heart surgery, dentistry, reproduction-related problems, weight loss treatments, terminal diseases such as cancer, amongst others. International medical patients prefer to visit Singapore for the whole range of medical care from health screenings to expensive medical treatments as it is a medically advanced country. Initiatives are taken by the medical healthcare facilities in Singapore to attract patients such as at some hospitals, patients can view the medical records through the help of an online channel, order meals, and shop online with the facility to deliver the products to the location of patient choice.
Singapore medical tourism market is segmented into type, services, regional distribution, and company. Based on the services, the market can be divided into orthopedic surgery, cardiac surgery, cancer treatment, neurology & neurosurgery, cosmetic surgery, and others. The cancer treatment segment is expected to account for the major medical tourism market in the forecast period, 2022-2026. The increasing prevalence of cancer around the world and requires treatment for a long duration. The growing need for quality and efficient treatment and unavailability of quality treatment services in some countries is attracting patients to avail medical tourism facility is expected to fuel the market growth in the next five years.
The major players operating in the Singapore medical tourism market are Mount Elizabeth Hospital, National University Hospital, Raffles Hospital (Raffles Medical Group), National Cancer Centre, National Heart Centre Singapore, National Dental Centre, Singapore General Hospital, Changi General Hospital, Gleneagles Hospital, National Skin Centre, Johns Hopkins Singapore International Medical Centre, Tan Tock Seng Hospital, Farrer Park Hospital, and others. Major companies are developing advanced technologies and launching new services to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new service developments.
Years considered for this report
Historical Years2016-2019
Base Year2020
Estimated Year2021
Forecast Period2022–2026
Objective of the Study
- To analyze the historical growth of the market size of Singapore medical tourism market from 2016 to 2019.
- To estimate and forecast the market size of Singapore medical tourism market from 2020 to 2026 and growth rate until 2026.
- To classify and forecast Singapore medical tourism market based on type, services, regional distribution, and company.
- To identify dominant region or segment in the Singapore medical tourism.
- To identify drivers and challenges for Singapore medical tourism.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Singapore medical tourism.
- To identify and analyze the profile of leading players operating in Singapore medical tourism.
- To identify key sustainable strategies adopted by market players in Singapore medical tourism market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of
Key Target Audience
- Medical Tourism service providers, hospitals, end users, and other stakeholders
- Market research and consulting firms
- Healthcare centers, distributers and suppliers ofthe services and other stakeholders
- Organizations, forums, and alliances related to medical tourism market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
