New Analysis Forecasts Strong Growth for Advanced Diagnostic Imaging Services in Singapore

A new market analysis shows that revenues for the private outpatient diagnostic imaging services market in Singapore are forecast to grow from USD 127.8 million in 2013 to an estimated USD 273 million in 2019.

Private practitioners in Singapore provide 80% of the primary healthcare services, while the remaining 20% are provided by government polyclinics. To meet this demand, medical device manufacturers are focusing their efforts on developing innovative and sophisticated diagnostic imaging technologies and services for private practitioners.

The analysis was released by Frost & Sullivan (Mountain View, CA, USA), a global business consulting firm. According to the analysis, the driving forces behind the growth are an aging population, an increased prevalence of non-communicable diseases, and medical tourism. On the other hand, the high cost of medical equipment, and the service and maintenance costs of diagnostic imaging equipment modalities are slowing down growth.

Frost & Sullivan Healthcare consultant Poornima Srinivasan, said, "With the increasing number of elderly and chronic disease patients, there is a marked shift in attitude from disease treatment to prevention. Both patients and healthcare givers are seeking solutions that can aid in early diagnosis and regular monitoring, which, in turn, is driving the usage of diagnostic imaging services. The private outpatient diagnostic imaging market in Singapore is competing on technology and services rather than pricing."

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