Singapore’s private hospital market to grow at 13%
18-Mar-15, Singapore Business Reveiw
The government plans to add at least 1,700 acute beds in 5 years.
%20Singapore%20Business%20Review.jpg "Singapores private hospital market to grow at 13pc (c) Singapore Business Review")
Image: Singapore Business Review
Competition in the healthcare sector is likely to remain strong given the onslaught of new infrastructure coming into the public sector.
According to a report by OCBC, in response to capacity pressure faced by our public healthcare sector, the local government continues to place focus on the industry as they expect to add at least 1,700 acute beds by 2020. All in, Singapore’s healthcare expenditure is estimated to grow from US$9b in 2015 to US$13b in 2020.
Singapore’s private hospital market is expected to grow at a rate of 13% between 2015 and 2020. IHH is still ramping up its Mount Elizabeth Novena Hospital, and Raffles Medical Group’s hospital extension is expected to open in 2017.