Number of Public Hospitals Singapore-Ken Research

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Singapore Hospital Market is Driven by Organic
Expansion of Public Private Hospitals and
Increased Government Spending Ken Research
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Implementation of MediShield Life (National
Health Insurance System) by the government,
expansion of service and product portfolio by
major public and private hospital chains, rising
focus on geriatric care services and increased
adoption of healthcare IT were the key factors
driving growth in Singapore hospital Market. The
report titled Singapore Hospital Market Outlook
to 2022 - by Public, Private Hospital
Not-for-Profit Hospital, by Inpatient
Outpatient, by Acute, Community Psychiatry
Hospitals by Ken Research suggested a growth at
a CAGR of 3.9 in revenue in Singapore Hospital
Market by 2022. Singapore hospital market
inclined at a positive CAGR during 2012-2017. The
market is dominated by the public sector which
offers specialized and integrated services at
affordable rates. The private sector majorly
focuses on elite class which prioritizes speed,
comfort, assurance of best medical care and
privacy. Macro trends positively affecting the
hospital market include ageing population, rising
chronic disease prevalence, escalating healthcare
needs and increasing complexity of care needs.
The market witnessed higher inpatient admissions,
improvement in average revenue per inpatient
admission due to higher complexity of medical
conditions and increased preference for day
procedures and outpatient services.
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Due to increasing ageing population, both public
and private hospitals have invested in offering
specialized services for the geriatric
population. For instance, SingHealth introduced
Steps to avoid falls in Elderly (SAFE) Programme
and Singapore General Hospital introduced
Community Care Programme in 2016 to aid the old
age medical conditions. Backed by greater
demand, major hospitals have invested in
expansion strategies. For instance, IHH
Healthcare witnessed positive growth in revenue
due to ramp up of Mount Elizabeth Novena Hospital
as the hospital added 30 beds. Most of hospitals
in Singapore have undertaken organic methods of
expansion. Public hospitals have extended their
capabilities to provide higher grade services at
affordable prices. For instance, SingHealth
established SingHealth Duke-NUS Disease Centres
(SDDC) for diabetes, blood cancer, breast, head
neck, lung and liver transplant in 2017. Raffles
Hospital extended its service portfolio to
include skin, aesthetics and women related
services. The market faces certain challenges in
terms of slowdown of medical tourism, retention
of quality doctors, rising healthcare inflation
and growing competition which has led major
hospitals to shift their focus on expansion into
neighboring countries such as China and Malaysia.
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The market is expected to witness an increase in
number of outpatients in public and private
hospitals due to rising focus on preventive care
services and growing awareness about various
medical diseases and prevention. For more
information on the research report, refer to
below link https//www.kenresearch.com/healthcare
/general-healthcare/singapore-hospital-market/1496
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