Singapore Medical Devices Industry Research Report 2024-2033

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $3,600	80 Pages	China Research and Intelligence Co., Ltd.	July, 2024	CRIC18975121

Best Price Guarantee
Price	from $3,600
Length	80 Pages
Publisher	China Research and Intelligence Co., Ltd.
Published Date	July, 2024
SKU	CRIC18975121

Singapore Medical Devices Industry Research Report 2024-2033

Singapore is located at the southern tip of the Malay Peninsula, at the entrance of the Straits of Malacca. It is bordered to the north by Malaysia across the Johor Strait and to the south by Indonesia across the Singapore Strait. Comprising Singapore Island and 63 other islands, the country covers a total land area of 733.2 square kilometers. Singapore is not only the only developed country in Southeast Asia but also the fourth-largest international financial center after New York, London, and Hong Kong. Over the past decade, Singapore's nominal GDP has grown from US$ 314.86 billion in 2014 to US$ 501.31 billion in 2023, with a per capita GDP exceeding $80,000 in 2023.

According to the Population in Brief 2023 released by Singapore's Population and Talent Division, as of June 2023, Singapore's total population was approximately 5.92 million, with citizens aged 65 and above accounting for 19.1%. Additionally, the preliminary estimate for Singapore's total fertility rate in 2023 was 0.97, falling below 1 for the first time, indicating an accelerating trend of population aging.

The medical devices market in Singapore reached $3.23 billion in 2023. According to CRI, the market size of Singapore's medical devices has shown continuous growth over the past few years. Ranked by the World Health Organization, Singapore boasts the sixth most efficient healthcare system globally and the fourth-best healthcare infrastructure, attracting patients from neighboring Southeast Asian countries and other parts of the world. The aging population and the increasing burden of chronic diseases, the rising demand for high-quality healthcare services, and a thriving medical tourism industry have been key drivers of the rapid development of Singapore's medical devices industry in recent years. Singapore currently has 19 public hospitals, which are the largest customers in the medical devices industry, accounting for nearly 70% of the total demand, with private hospitals also being major consumers of medical devices.

Foreign enterprises dominate over 80% of the medical devices market in Singapore, primarily producing and supplying high-end medical equipment. Major companies include Abbott, Alcon, Becton Dickinson, Medtronic, and Siemens Healthineers. CRI has analyzed that while there are a few local companies in Singapore's medical devices industry, they are mostly small enterprises mainly supplying medical consumables.

With the aging population trend and the increasing number of chronic disease patients, the demand for medical devices in Singapore will continue to grow. CRI expects the medical devices industry in Singapore to be further 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 become widespread, providing new growth opportunities for Singapore's medical devices industry. However, the development of the industry also faces challenges, including increasingly stringent regulatory and compliance requirements, necessitating strengthened quality management systems by companies. Additionally, market competition is becoming increasingly intense.

CRI forecasts that in the coming years, driven by factors such as population growth and technological advancements, Singapore's medical devices industry has significant development potential. It is projected that the market size of Singapore's medical devices industry will reach US$ 7.11 billion by 2033, with a compound annual growth rate (CAGR) of 8.2% from 2024 to 2033.

Topics covered:

Overview of Singapore's Medical Devices Industry
Economic Conditions and Policies for Singapore's Medical Devices Industry
How Foreign Investment Enters Singapore's Medical Devices Market
Market Size of Singapore's Medical Devices Industry (2024-2033)
Analysis of Major Medical Devices Manufacturers in Singapore
Key Drives and Market Opportunities for the Medical Devices Industry in Singapore
What are the Major Drivers, Challenges, and Opportunities for the Medical Devices Industry in Singapore during the Forecast Period 2024-2033?
Who are the Main Players in Singapore's Medical Devices Market and What are their Competitive Advantages?
What is the Expected Revenue of Singapore's Medical Devices Market during the Forecast Period 2024-2033?
What Strategies have the Major Market Players Adopted to Increase their Market Share in the Industry?
Which Segment of Singapore's Medical Devices Market is Expected to Dominate the Market by 2032?
What are the Main Adverse Factors Facing the Singapore Medical Devices Industry?

1. Overview of Singapore: 1.1 Geography; 1.2 Demographics of Singapore; 1.3 Economic of Singapore; 1.4. Minimum Wage in Singapore, 2015-2024; 1.5. Impact of COVID-19 on Singapore's Medical Devices Industry
2. Development Environment of the Medical Devices Industry in Singapore: 2.1. History of the Medical Devices Industry in Singapore; 2.2. Categories of Medical Devices in Singapore; 2.3. Policies for the Medical Devices Industry in Singapore
3. Supply and Demand of the Medical Devices Industry in Singapore: 3.1. Supply of the Medical Devices Industry in Singapore; 3.1.1. Production Capacity; 3.1.2. Production Volume; 3.2. Demand of the Medical Devices Industry in Singapore; 3.2.1. Demand Volume; 3.2.2. Market Size
4. Import and Export of the Medical Devices Industry in Singapore: 4.1. Import of the Medical Devices Industry in Singapore; 4.1.1. Import Volume and Value of Medical Devices in Singapore; 4.1.2. Main Suppliers of Medical Devices Imports in Singapore; 4.2. Export of the Medical Devices Industry in Singapore; 4.2.1. Export Volume and Value of Medical Devices in Singapore; 4.2.2. Main Destinations of Medical Devices Exports in Singapore
5. Market Competition of Singapore's Medical Devices Industry: 5.1. Barriers to Entry in Singapore's Medical Devices Industry; 5.1.1. Brand Barriers; 5.1.2. Quality Barriers; 5.1.3. Capital Barriers; 5.2. Competitive Structure of Singapore's Medical Devices Industry; 5.2.1. Bargaining Power of Medical Devices Suppliers; 5.2.2. Bargaining Power of Consumers; 5.2.3. Competitive Landscape of Singapore's Medical Devices Industry; 5.2.4. Potential Entrants in the Medical Devices Industry; 5.2.5. Substitutes for Medical Devices Products
6. Analysis of Major Medical Devices Brands in Singapore: 6.1. Abbott; 6.1.1. History of Abbott; 6.1.2. Main Products of Abbott; 6.1.3. Operating Model of Abbott; 6.2. Alcon; 6.2.1. History of Alcon; 6.2.2. Main Products of Alcon; 6.2.3. Operating Model of Alcon; 6.3. Becton Dickinson; 6.3.1. History of Becton Dickinson; 6.3.2. Main Products of Becton Dickinson; 6.3.3. Operating Model of Becton Dickinson; 6.4. Medtronic; 6.4.1. History of Medtronic; 6.4.2. Main Products of Medtronic; 6.4.3. Operating Model of Medtronic; 6.5. Biosensors International; 6.5.1. History of Biosensors International; 6.5.2. Main Products of Biosensors International; 6.5.3. Operating Model of Biosensors International; 6.6. Nipro Corp; 6.6.1. History of Nipro Corp; 6.6.2. Main Products of Nipro Corp; 6.6.3. Operating Model of Nipro Corp; 6.7. B. Braun Singapore Pte Ltd; 6.7.1. History of B. Braun Singapore Pte Ltd; 6.7.2. Main Products of B. Braun Singapore Pte Ltd; 6.7.3. Operating Model of B. Braun Singapore Pte Ltd; 6.8. Danaher Corporation; 6.8.1. History of Danaher Corporation; 6.8.2. Main Products of Danaher Corporation; 6.8.3. Operating Model of Danaher Corporation; 6.9. Siemens Healthineers; 6.9.1. History of Siemens Healthineers; 6.9.2. Main Products of Siemens Healthineers; 6.9.3. Operating Model of Siemens Healthineers; 6.10. Boston Scientific; 6.10.1. History of Boston Scientific; 6.10.2. Main Products of Boston Scientific; 6.10.3. Operating Model of Boston Scientific
7. Outlook for Singapore's Medical Devices Industry (2024-2033): 7.1. Development Factors of Singapore's Medical Devices Industry; 7.1.1. Drivers and Opportunities of the Medical Devices Industry in Singapore; 7.1.2. Threats and Challenges facing the Medical Devices Industry in Singapore; 7.2. Market Supply Forecast for the Medical Devices Industry in Singapore; 7.3. Market Demand Forecast for the Medical Devices Industry in Singapore; 7.4. Import and Export Forecast for the Medical Devices Industry in Singapore; Disclaimer; Service Guarantees
List of Charts: Chart Population of Singapore, 2009-2023; Chart GDP Per Capita in Singapore, 2014-2023; Chart Related Policies Issued by Singapore Government for Medical Devices Industry, 2019-2023; Chart Production of Medical Devices in Singapore, 2019-2023; Chart Medical Devices Domestic Consumption in Singapore, 2019-2023; Chart Import Volume of Medical Devices in Singapore, 2019-2023; Chart Import Value of Medical Devices in Singapore, 2019-2023; Chart Main Suppliers and their Import Values of Medical Devices Imports in Singapore, 2019-2023; Chart Export Volume of Medical Devices and Final Products in Singapore, 2019-2023; Chart Export Value of Medical Devices and Final Products in Singapore, 2019-2023; Chart Main Export Destinations and their Export Values for Medical Devices from Singapore, 2019-2023; Chart Production Forecast for the Singapore Medical Devices Industry, 2024-2033; Chart Domestic Market Size Forecast for the Singapore Medical Devices Industry, 2024-2033; Chart Import Forecast for the Singapore Medical Devices Industry, 2024-2033; Chart Export Forecast for the Singapore Medical Devices Industry, 2024-2033