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Albany, NY -- (SBWIRE) -- 12/23/2014 -- Summary
GlobalData, the industry analysis specialist, has released its latest report, CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Singapore. The report is an essential source of information and analysis on the healthcare, regulatory and reimbursement landscape in Singapore. It identifies the key trends in the countrys healthcare market and provides insights into its demographic, regulatory, and reimbursement landscape and healthcare infrastructure. Most importantly, the report provides valuable insights into the trends and segmentation of its pharmaceutical and medical device markets. It is built using data and information sourced from proprietary databases, secondary research, and in-house analysis by GlobalDatas team of industry experts.
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Singapores population grew from 4.8 million in 2008 to 5.4 million in 2013, mainly due to the increase in the life expectancy (DoS, 2014). The value of the pharmaceuticals market increased from $489m in 2008 to $761m in 2013 at a Compound Annual Growth Rate (CAGR) of 9.3%, and this value is expected to increase further from $776m in 2014 to $873m in 2020 at a CAGR of 2.0% (Tarn et al., 2008; DoS, 2014; EDB, 2014c). In 2011, the output of the medical technology sector was SGD4.3 billion ($3.4 billion), which is expected to increase to SGD5 billion ($4 billion) in 2015 (EDB, 2014a).
These positive growth trends can primarily be attributed to:
- Government initiatives
- Universal healthcare coverage
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The report provides information on the healthcare, regulatory, and reimbursement landscape in Singapore, and includes:
- Overview of the pharmaceutical market including size, segmentation, and key drivers and barriers
- Profiles and SWOT analyses of the major players in the pharmaceutical market: Haw Par Corporation, SciGen, Pfizer, Novartis and GlaxoSmithKline
- Insightful review of the reimbursement and regulatory landscape, with analysis covering details of the countrys healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices
- Detailed analysis of the political and economic environment, covering economic indicators, demographics, healthcare infrastructure and healthcare expenditure
- An overview of the opportunities for and challenges to growth in the Singaporean healthcare market
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This report will enhance your decision-making capability by allowing you to:
- Develop business strategies by understanding the trends shaping and driving Singapores healthcare market
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments, and companies likely to affect Singapores healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing the performance of various competitors
- Organize your sales and marketing efforts by identifying the market categories and segments that present the best opportunities for consolidation, investment, and strategic partnership
- Identify, understand, and capitalize on the opportunities and challenges in Singapores healthcare market
CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - UK
In 2012, the UK`s population was approximately 63.7 million. The major factors contributing to the growth in the population are increase in net migration and decrease in death rate. The UK policymakers are now presented with the problems of a Eurozone crisis, a declining population of the working age group and an increasing elderly population. The pharmaceutical market in the UK was estimated at $24.1 billion in 2012 and is expected to reach approximately $31.7 billion by 2020 with a projected Compound Annual Growth Rate (CAGR) of 3.5%. The medical devices market size was approximately $12 billion in 2012 and is expected to reach approximately $17.5 billion by 2020 with a projected CAGR of 4.8%.
CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - China
China is the most populated country in the world. In 2012, its population was approximately 1.3 billion, approximately one fifth of the global population. Growth has however been effectively controlled and has slowed down due to the strict enforcement of family-planning and one-child policies. The decline in the size of the young working-age group and the growing elderly population are however matters of concern for policy planners. China's pharmaceutical industry was estimated to be worth $287 billion in 2012. The market for western medicine was approximately $8.8 billion in 2007 and was estimated at $46.7 billion in 2012. The medical device market was worth approximately $20.1 billion in 2012 and is expected to reach approximately $53.5 billion by 2020 at a projected Compound Annual Growth Rate (CAGR) of 13.1%.
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