Explore more Categories
Artificial Intelligence involves the science and engineering of developing intelligent machines
The manufacturing world is at a cusp of a new revolution that will redefine conventional business models
IoT will have a major impact on businesses and consumers in the future
The world is creating 2.5 exabytes of data daily
Our research seeks to connect-the-dots across multiple trends
Personal Robots are Set to Be a $19 Billion Market
Strategic Analysis of BREXIT and its Implications to Industries, Economies and Societies
iFrost is a digital platform for interactive and dynamic reporting of data.
The TOEs are a great source of information which gives corporates critical information on companies to action for their strategic investments either as an open source platform or to collaborate and to develop successful products
Laboratory Automation is Driving the Growth of the Clinical Laboratories Market in the Country
* Required Fields
Pay by invoice
Healthcare expenditure in Singapore is expected to grow, fueled by factors such as rising incomes and a progressively aging population. Diagnostics has emerged as a way for earlier and better identification of diseases to control rising healthcare costs in Singapore. Hence, the country has become a natural choice for many global diagnostic companies to establish their regional operations. Singapore also features an established lab industry, high technology, and specialized manufacturing industries, and also serves as a distribution hub for medical products throughout Asia.Foreign manufacturers dominate the competitive landscape, and there is a lack of domestic market participants. NCD-related deaths, mainly caused by cardiovascular diseases and cancer, have a higher prevalence and account for an estimated 76% of the total deaths in the country. In the current business model, physicians are key decision makers and the concept of preventive medicine is not well known yet, and so diagnostic test are more reactive and not preventive. For example, anatomic pathology laboratories are still hesitant to pursue newer technology such as digital pathology as a result of costs. This approach, however, hinders them from savoring the benefits offered by digital pathology, including improvements in service delivery, patient safety and communications, as well as reduced error rates, lower costs, and better and more efficient use of data.Genomic testing is evolving rapidly. However, in Singapore, it is still considered a completely separate area in all laboratories because of the nature of its workflow and the sample types involved in the research.Reducing the burden on tertiary care, increased coverage of the mandatory savings scheme, strong private medical insurance coverage, and high affluence among the population will continue to spur the demand for pathology tests in private clinics, directly propelling the referrals to private independent labs.More informed patients are opting for preventive healthcare. The Singapore market is currently witnessing a surge in molecular diagnostic testing services. This will create a huge opportunity for investment in clinical laboratories.With rapid improvement in next-generation tools such as fast scanners, digital pathology will help achieve a high level of diagnostic precision and accuracy in image decoding, enabling a widespread adoption of this technology.A key trend is private independent labs collaborating with large companies for health screening or medical check-ups for both domestic and international patients, thereby capturing new sources of testing outside of the traditional referrals from hospitals and clinics.For international collaboration, routine tests are performed at local associated labs and specialized tests are referred to labs in Singapore. It is expected that molecular microbiology, other non-infectious disease-related molecular assays, and blood glucose self-testing will represent the fastest growing IVD segments in Singapore. Molecular microbiology will see rising use in the country as public health officials and care providers adopt rapid testing to combat significant infectious disease burdens and risks. Other molecular assays related to non-communicable disease management and diagnosis will see increased demand as Singapore represents a leading destination for advanced care for medical tourists.Author: Sanjeev Kumar
Chinese Clinical Laboratories Market, Forecast to 2025
Vietnamese Clinical Laboratories Market, Forecast to 2025
Breakthroughs in Non-Alcoholic Steatohepatitis Management
Thailand Clinical Laboratories Market, Forecast to 2025
Malaysian Clinical Laboratories Market, Forecast to 2025
Microbiome Technologies Fueling Human Health and Wellness
Gene Editing and Gene Therapy Breakthroughs to Propel Mainstream Disease Treatments
US Medical Marijuana Market, Forecast to 2022
Why Now is The Time for Interoperable Healthcare Solutions?
Growth Insights for European Infectious Disease Point-of-Care Testing (POCT) Market, Forecast to 2022
commercial aviation market
functional food market
virtual reality market
flexible packaging market
artificial lift market
smart wearables market
solar energy market
mobile biometrics market
Fill in the fields below to receive a sample report
Don't have an account? Create One!
Enter your Email Address here to receive a link to change password.
If you are an existing frost.com user, please register using the same email for seamless access
Already have an account? Login!
Use your Linkedin account to login or register within our store.You're just one click away.