Singapore Home Healthcare Market Analysis

Singapore Home Healthcare Market Analysis

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Singapore's home healthcare market was valued at $435 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 7.93% from 2022-30 and will reach $801 Mn in 2030. One of the main reasons propelling the growth of this market is the introduction of newer technologies and the aging population. The market is segmented by component and product. Some key players in this market are Active Global Home & Community Care, Speedoc, Variantz, Prism, Jaga-Me Medical Home Care, Homage Home Care, NTUC Health Home Care Services, and Biocomm Pte Ltd.

ID: IN10SGHS010 CATEGORY: Healthcare Services GEOGRAPHY: Singapore AUTHOR: Nandini Shah

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Singapore Home Healthcare Market Executive Summary

Singapore's home healthcare market was valued at $435 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 7.93% from 2022-30 and will reach $801 Mn in 2030. Home healthcare is provided within the homes of frail and home-bound people who find it difficult to access services in the community. The services address both health and social care needs and support families in the care of their seniors with the aim of helping seniors age in place. The Home healthcare market is expected the growth during the forecast period. The home healthcare market is expected to grow considerably in the following years due to excellent treatment given to the patients with good quality home-based healthcare and social service, contributing to the country's market growth.

Singapore is a highly developed nation with a GDP per capita in 2021 that will be more than twice as high as the UK at purchasing power parity. Having a centralized administration and a reputation for excellent governance, it is a city-state with a population of 5.8 million. Singapore's population is aging quickly. By 2050, a third of Singapore's population will be over 65, making it the second-fastest aging civilization in the world, according to the United Nations. The government has highlighted this as one of Singapore's most significant challenges in the ensuing decades. Due to its long life expectancy and lower infant mortality than the UK, Singapore enjoys some of the finest health results in the world. Singapore has hospital beds, doctors, and nurses per 100,000 residents that are equivalent to those in the UK and other industrialized nations. By 2029, Singapore's government expects to have spent 160% more on healthcare.

singapore home healthcare market analysis

Market Dynamics

Market Growth Drivers

Market expansion in Singapore is anticipated to be fueled by increased demand and technological advances. A number of companies have dabbled in drug delivery, which has added to the advantages of in-home care for patients. More people are choosing home healthcare services over hospitalization as a result of increased knowledge of home healthcare as a viable option for patients. Modern healthcare technology is more convenient for patients who are at home or on the go because it is portable, user-friendly, and more practical. This industry's adoption of cutting-edge technologies has greatly improved the current patient-provider communication flow, allowing for better, faster, and more effective care. The rising prevalence of chronic diseases such as diabetes and heart disease is increasing the demand for home healthcare services as they are better suited to manage and monitor these conditions on an ongoing basis.

Market Restraints

Singapore's home healthcare services are frequently restricted to providing only the most basic care and may not have access to more specialized treatment, such as palliative or rehabilitation care. Depending on the area and population covered, the quality of home healthcare services offered by the SUS can vary greatly, and private home healthcare providers might not be subject to the same level of scrutiny and regulation. Singapore has several places that lack the infrastructure required to offer home healthcare services, such as reliable transportation and simultaneous communication networks. Many home healthcare providers lack access to the most recent medical technology and advancements, which might restrict the breadth of services they can offer. It is projected that the shortage of empathetic nursing staff will restrict the rate of growth of the Singapore home healthcare sector.

Competitive Landscape

Key Players

  • Active Global Home & Community Care
  • Speedoc
  • Variantz
  • Prism
  • Jaga-Me Medical Home Care
  • Homage Home Care
  • NTUC Health Home Care Services and Biocomm Pte Ltd
  • Homage Healthcare
  • Healthhub home healthcare

Healthcare Policies and Regulatory Landscape

All approved Home Healthcare services in Singapore under MOH, are managed by VWOs and depend on public donations to fund their activities, with partial subventions from the government. In addition, all patients accessing these services need to be means-tested. It is a 4-tier system where the percentage of subsidy could be 75%, 50%, 25%, or 0%. The patient is expected to co-pay the rest of the costs.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Home Healthcare Market Segmentation

By Device Type (Revenue, USD Billion):

Based on the Device Type the market is segmented into Testing, Screening, Monitoring Devices, Therapeutic Home Healthcare Devices, and Mobility Assist.

  • Testing, Screening, and Monitoring Device
  • Blood Glucose Monitors
  • Blood Glucose Monitors
  • Blood Pressure Monitors
  • Heart Rate Monitors
  • Temperature Monitors
  • Sleep Apnea Monitors
  • Coagulation Monitors
  • Ovulation and Pregnancy Test Kits
  • Pulse Oximeters
  • Home Hemoglobin A1C Test Kit
  • Therapeutic Home Healthcare Devices
  • Oxygen Delivery Systems
  • Nebulizers
  • Ventilators
  • Sleep Apnea Therapeutic Devices
  • Wound Care Products
  • IV Equipment
  • Dialysis Equipment
  • Insulin Delivery Devices
  • Inhalers
  • ?Other Therapeutic Products (ostomy devices, automated external defibrillators (AEDs)
  • Mobility Assist
  • Walkers and Rollators
  • Wheelchairs
  • Canes
  • Crutches
  • ?Mobility Scooters

By Service Type (Revenue, USD Billion):

  • Skilled Nursing Services
  • Rehabilitation Therapy Services
  • Hospice and Palliative Care Services
  • Unskilled Care Services
  • Respiratory Therapy Services
  • Infusion Therapy Services
  • Pregnancy Care Services?

By Indication Type (Revenue, USD Billion):

  • Cardiovascular Disorders & Hypertension
  • Diabetes
  • Respiratory Diseases
  • Pregnancy
  • Mobility Disorders
  • Hearing Disorders
  • Cancer
  • Wound Care
  • ?Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

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”.


Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:



Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

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.

Data Triangulation & Validation:

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.



Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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  • Qualitative, acute and result oriented market analysis
  • Market size and forecasts from 2022 to 2030
  • Opportunities for expansion and in-depth market analysis
  • Segmentation and regional revenue forecasts
  • Analysis of the market share and competitive landscape
  • Strategic Recommendations to chart future course of action
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Last updated on: 25 January 2024
Updated by: Riya Doshi

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