Singapore Artificial Intelligence (AI) in Diagnostics Market Analysis

Singapore Artificial Intelligence (AI) in Diagnostics Market Analysis

$ 3999

The Singapore Artificial Intelligence (AI) in the diagnostics market is projected to grow from $1.2 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The market will be driven by increasing demand for healthcare services such as AI diagnostics to improve patient outcomes and the government's support for AI research and development. The market is segmented by component & by diagnosis. Some of the major players include IBM Watson Health, Siemens Healthineers & Claritas HealthTech.

ID: IN10SGDH002 CATEGORY: Digital Health GEOGRAPHY: Singapore AUTHOR: Vidhi Upadhyay

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Singapore Artificial Intelligence (AI) in Diagnostics Market Executive Summary

The Singapore Artificial Intelligence (AI) in the diagnostics market is projected to grow from $1.2 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022 - 2030. Singapore's healthcare system is often ranked among the finest in the world, and it is appreciated by many other countries due to its outstanding results. Singapore citizens and legal residents have access to subsidized healthcare services delivered by government-run facilities. The level of subsidy might range from 50% to 80% depending on a variety of circumstances. Singapore has the 42nd highest cancer rate in the world. According to the statistics, the age-standardized cancer rate in Singapore is 248.9 per 100,000 (both sexes).

The application of diagnostic AI is rapidly expanding in Singapore, with exciting research and activities taking place in a wide range of medical fields, including radiology, pathology, oncology, cardiology, neurology, and others. AI-powered diagnostic systems may analyze medical imaging and patient data to detect early warning signals of diseases such as cancer and heart disease. By analyzing medical imaging like CT scans, MRI scans, and X-rays, AI may be utilized to increase diagnosis accuracy. While artificial intelligence in diagnostics is still in its nascent stages in Singapore, it has enormous scope for improving healthcare outcomes and lowering costs.

In April 2022, NTU Singapore establishes two new AI-driven research centers for illness prediction. One is researching dementia among Asians, while the other is now working on predicting mental problems in at-risk youngsters.

singapore artificial intelligence in diagnostics market analysis

Market Dynamics

Market Growth Drivers

In July 2022, Tan Tock Seng Hospital (TTSH) and Taiwanese tech firm Asus created blade, an AI-powered program that may decrease the time required to analyze blood for various diseases in half, allowing for early clinical intervention for patients. The government has made significant investments in AI research and development. The National Research Foundation (NRF) has undertaken numerous efforts to assist AI research, such as the AI.SG Programme, which aims to create AI technology and applications in Singapore. The government's Enterprise Development Grant (EDG) assists SMEs in adopting and implementing AI technology. The Integrated Health Information Systems (IHiS) collaborated with artificial intelligence (AI) companies to create AI solutions that can assist physicians in making more accurate diagnoses. The Infocomm Media Development Authority (IMDA) has established a number of programs to deliver AI-related training and resources to professionals and students.

Market Restraints

There are also various impediments to the expansion of AI diagnostics in Singapore, such as worries about data privacy and security, as well as a lack of education and training for healthcare practitioners to successfully use and understand AI-generated diagnostic results. Furthermore, the high cost of AI equipment and the absence of AI diagnostic reimbursement methods may hinder the adoption of these solutions by healthcare professionals and patients.

Competitive Landscape

Key Players

  • IBM Watson Health
  • Siemens Healthineers
  • Philips Healthcare
  • GE Healthcare
  • Google Health
  • AliveCor, Inc.
  • Riverain Technologies
  • Claritas HealthTech (SGP)
  • Ubie (SGP)
  • (SGP)

Notable Deals

  1. November 2022, Claritas HealthTech a healthcare technology firm that specializes in advanced medical image processing applications and artificial intelligence (AI) aided diagnostic solutions to help and optimize doctors' diagnostic workflow, has extended its operations in India.
  2. In October 2022, Prudential plc and Google Cloud Establish Strategic Collaboration to Provide Access to Healthcare and Financial Security in Asia and Africa

Healthcare Policies and Regulatory Landscape

The Health Sciences Authority (HAS) is a statutory board of the Singapore Government's Ministry of Health. Before they may be provided in the Singapore market, all medical equipment (including in vitro medical devices) must be registered with the HSA by a locally registered firm. The Ministry of Health (MOH) is in charge of developing and implementing healthcare policy in Singapore. The (MOH) is active in the regulation of AI diagnostics in healthcare and collaborates closely with other organizations such as the HSA to guarantee that AI diagnostics in healthcare are safe and effective.

Reimbursement Scenario

Medical Services Payment Systems (MSPS) is in charge of the creation and oversight of Singapore's healthcare finance schemes, covering healthcare reimbursement. The MSPS is active in AI diagnostics reimbursement and collaborates with the MOH and other organizations to ensure that the usage of AI diagnostics is cost-effective and sustainable.

1. Report Description of the Singapore Artificial Intelligence (AI) in Diagnostics Market Segmentation
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report

2. Singapore Artificial Intelligence (AI) in Diagnostics Market Segmentation Executive Summary
2.1 Singapore Artificial Intelligence (AI) in Diagnostics Market Segmentation –Industry Snapshot & key buying criteria, 2022-2030
2.2 Market Size, Growth Prospects, and Key findings

3. Market Dynamics of Singapore Artificial Intelligence (AI) in Diagnostics Market Segmentation
3.1 Market Growth Drivers Analysis
3.2 Market Restrains Analysis

4. Singapore Artificial Intelligence (AI) in Diagnostics Market Segmentation Segmentation

4.1 By Component Outlook
4.1.1 Software
4.1.2 Hardware
4.1.3 Services

4.2 By Diagnosis Outlook
4.2.1 Cardiology
4.2.2 Oncology
4.2.3 Pathology
4.2.4 Radiology
4.2.5 Chest and Lung
4.2.6 Neurology
4.2.7 Others

5. Singapore Artificial Intelligence (AI) in Diagnostics Market Segmentation Share
5.1 Market Analysis, Insights, and Forecast – By Revenue

6. Competitive Landscape
6.1 Major Top Market Players

7. Key Company Profiles

7.1 Company 1
7.1.1 Overview
7.1.2 Financial Performance
7.1.3 Product & Services
7.1.4 Strategic initiatives

7.2 Company 2
7.2.1 Overview
7.2.2 Financial Performance
7.2.3 Product & Services
7.2.4 Strategic initiatives

7.3 Company 3
7.3.1 Overview
7.3.2 Financial Performance
7.3.3 Product & Services
7.3.4 Strategic initiatives

7.4 Company 4
7.4.1 Overview
7.4.2 Financial Performance
7.4.3 Product & Services
7.4.4 Strategic initiatives

7.5 Company 5
7.5.1 Overview
7.5.2 Financial Performance
7.5.3 Product & Services
7.5.4 Strategic initiatives

8. Healthcare Policies and Regulatory Landscape
8.1 Healthcare Policies in Singapore
8.2 Regulatory Framework in Singapore
8.3 Pricing & Reimbursement Scenario in Singapore Artificial Intelligence (AI) in Diagnostics Market Segmentation

9. Factors Driving Future Growth
9.1 New Trends and Development Singapore Artificial Intelligence (AI) in Diagnostics Market Segmentation
9.2 Future Opportunities

10. Strategic Recommendations

Artificial Intelligence (AI) in Diagnostics Market Segmentation

  • By Component Outlook Type (Revenue, USD Billion):
    • Software
    • Hardware
    • Services
  • By Diagnosis Outlook Type (Revenue, USD Billion):
    • Cardiology
    • Oncology
    • Pathology 
    • Radiology
    • Chest and Lung
    • Neurology
    • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.


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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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Stage III: Interpretation and Presentation

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Last updated on: 06 March 2023

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