Medical tourism growth to slow in Singapore

 19-Jun-17, The Edge Markets 

UOB is remaining “market weight” on Singapore’s healthcare sector on expectations of decelerating medical tourism growth in Singapore, due to rising competition from neighbouring Asean countries such as Malaysia.

Image: The Edge Markets

“Going forward, we expect patient growth [in Singapore] to stem largely from local patients, underpinned by favourable demographic trends such as ageing demographics as well as rising income levels,” said lead analyst Thai Wei Ying.

While Thai expects patient volume growth to be supported organically, he believes the number of lower-margin local patient growth may outpace that of higher-margin international patients, which will lead to softer revenue intensity growth in Singapore.

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