Market Report, "Singapore Pharmaceuticals & Healthcare Report Q3 2012", published
New Healthcare research report from Business Monitor International is now available from Fast Market Research
Boston, MA -- (SBWire) -- 08/09/2012 --BMI View: The reduction in healthcare subsidies for permanent residents (PRs) in Singapore, which is to be implemented in two phases over the coming 12 months, is a politically driven move rather than a genuine restructuring of the public healthcare system. The policy also fails to address current healthcare concerns, which include rising costs, long hospital waiting times and a lack of beds. For the time being, we hold to our market forecasts, on the basis of continuing need for treatment and the fact that PRs accounted for only 5% of the 13,000 subsidised patients in hospitals and 5% of the 144,000 subsidised patients in specialist clinics in 2011. We have, however, revised up our forecast for Singapore's healthcare spending, following the receipt of the most recent market information and reappraisal of historical data.
View Full Report Details and Table of Contents
Headline Expenditure Projections
- Pharmaceuticals: SGD901mn (US$716mn) in 2011 to SGD951mn (US$755mn) in 2012; +5.6% in local currency terms and +5.4% in US dollar terms. US forecast significantly higher from Q212 on account of exchange rate factors.
- Healthcare: SGD13.16bn (US$10.47bn) in 2011 to SGD14.61bn (US$11.59bn) in 2012; +11.0% in local currency terms and +10.8% in US dollar terms. Forecast significantly higher from Q212 on account of new historical data.
- Medical devices: SGD449mn (US$357mn) in 2011 to SGD467mn (US$371mn) in 2012; +4.0% in local currency terms and +3.8% in US dollar terms. Forecast broadly unchanged from Q212.
Risk/Reward Ratings: Singapore's score for Q312 stands at 61.9 out of a 100, which is 2.4% lower on a quarter-on-quarter (q-o-q) basis. The country also slipped to fifth out of 18 markets surveyed in the region, again placing it below China. Singapore's composite score was dragged down by a deterioration of its industry reward component, although its risks are viewed as the most benign in the region. Globally, Singapore is placed 16th out of 95 countries, although we expect its position to worsen over the coming years; this will be on account of factors such as its pharmaceutical market maturity and increased competition from emerging and more populous regional markets such as Vietnam.
Key Trends And Developments
- In March 2012, the Singaporean Health Sciences Authority (HSA) was poised to assess the data that led to the addition of new safety labels on cholesterol-decreasing statin medicines by the US Food and Drug Administration (FDA) . The FDA enforces compulsory safety labels, which include warnings about rare risks such as memory loss and confusion, on statin products. The drugs are available in six types under 34 brands in Singapore.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Healthcare research reports at Fast Market Research
You may also be interested in these related reports:
- Egypt Pharmaceuticals & Healthcare Report Q3 2012
- Taiwan Pharmaceuticals & Healthcare Report Q3 2012
- Romania Pharmaceuticals & Healthcare Report Q3 2012
- Cipher Pharmaceuticals Inc. (DND) - Pharmaceuticals & Healthcare - Deals and Alliances Profile
- Turkey Pharmaceuticals & Healthcare Report Q3 2012
- Zimbabwe Pharmaceuticals & Healthcare Report Q3 2012
- Oman Pharmaceuticals & Healthcare Report Q3 2012
- Nigeria Pharmaceuticals & Healthcare Report Q3 2012
- Canada Pharmaceuticals & Healthcare Report Q3 2012
- Peru Pharmaceuticals & Healthcare Report Q3 2012
Media Relations Contact
Director of Marketing
View this press release online at: http://rwire.com/157048