Singapore Medical Devices Industry Research Report 2024-2033 Featuring Medtronic, Johnson & Johnson, Becton Dickinson, Siemens Healthineers, Boston Scientific, and Stryker

Dublin, July 16, 2024 (GLOBE NEWSWIRE) -- The "Singapore Medical Devices Industry Research Report 2024-2033" report has been added to ResearchAndMarkets.com's offering.

The medical devices market in Singapore reached $3.23 billion in 2023. According to the publisher, 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. The publisher 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. The publisher 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.

The publisher 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?

Companies Featured

• Medtronic
• Johnson & Johnson
• Becton Dickinson
• Siemens Healthineers
• Boston Scientific
• Stryker Corporation

Key Attributes:

Key Topics Covered:

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. History of Abbott
6.2. Main Products of Abbott
6.3. Operating Model of Abbott

For more information about this report visit https://www.researchandmarkets.com/r/o1xzi1

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Attachment

• Singaporean Medical Devices Industry