Singapore is renowned for its role as a healthcare hub for the region. With patients traveling from neighboring countries, Singapore draws over 400,000 patients to receive its high-quality healthcare. Regularly listed in the top ranks for global healthcare, Singapore continues to be a lucrative medical device market with high demand for healthcare and research communities.
The government is very committed to Singapore’s healthcare needs, installing a long-term plan to raise GDP spending on healthcare to 8%, up from 4.6% currently. The National Health Expenditure is expected to rise to US$9.6 billion per year by 2020. Singapore has strong fundamentals in healthcare excellence, providing strong infrastructure and universal health coverage, further increasing the demand in the Singapore medical device market.
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Asia Actual is available to help navigate the complex medical device registration requirements and regulatory pathway for medical device and IVD distribution in Singapore.
Contact Asia Actual for a free consultation discussing the potential for your medical device or IVD in the Singapore medical device market.