Report Description of the Singapore Home Healthcare Market
Research Scope and Assumption
- The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
- The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
- We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
- All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
- Inflation has not been accounted for in order to estimate and forecast the market
- Numbers may not add up due to rounding off
Research Objective:
- To analyze and forecast the market size of Singapore Home Healthcare Drugs market
- To classify and forecast Singapore Home Healthcare Market market based on application, drugs, project type, and application.
- To identify drivers and challenges for Singapore Home Healthcare market
- To examine competitive developments such as mergers and acquisitions, agreements, collaborations and partnerships, etc., in Singapore Home Healthcare market
- To conduct pricing analysis for Singapore Home Healthcare Drugs market
- To identify and analyze the profile of leading players operating in Singapore Home Healthcare market
Reason to buy the report:
- Facilitate decision-making based on strong current and forecast data for Atopic Dermatitis drug market
- Develop strategies based on the latest regulatory framework
- Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
- Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Atopic Dermatitis market
- Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
- To strategically profile key players and comprehensively analyze their market shares and core competencies
- We have technically sound team which do a deep dive research and also provide strategy-based consulting analysis
Singapore Home Healthcare Market Executive Summary
Home healthcare are 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 to help seniors age in place. The Home healthcare market is expected the grow during the forecast period.
Market Size and Key Findings
The Singapore Home Healthcare market size is at around USD xx billion in 2021 and is projected to reach USD xx billion in 2028, exhibiting a CAGR of xx% during the forecast period.
The home healthcare market is expected to have considerable growth in the next years due to excellent treatment given to the patient with a good quality home-based healthcare and social service, which contributes to the market growth in the country.
Market Dynamics
Market Growth Drivers Analysis
Home Healthcare is a growing area of need in the spectrum of healthcare delivery in Singapore. Our country’s ageing population and increasing prevalence of chronic diseases is a major driving force in the establishment and utilisation of such services.
Market Restraints
There are many challenges facing home healthcare market in Singapore,the high cost combined with the repayment issues related to the selection of home healthcare devices would control the market development.
COVID-19 impact on “Singapore Home Healthcare Market”
Singapore Home healthcare market is accelerated by the COVID-19 pandemic, home healthcare is one of the fastest-growing healthcare sectors and includes services such as hospice care, home nursing, home medical supply delivery, and in-home diagnostics.
Competitive Landscape
Key Players
Key market players include 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
Products in Pipeline
Homage, the Singapore-based startup that matches families and caregivers, has launched a new service that provides home medical visits, telehealth consultations and medication delivery. Backed by investors, including HealthXCapital, Alternate Ventures and KDV Capital, This integrates with Homage Health because the platform’s caregivers, including nurses, are able to provide in-person support for online consultations with doctors and can help follow up on recommended healthcare regimens.
Notable Recent Deals
Homage, the Singapore-based startup that matches families and caregivers, has launched a new service that provides home medical visits, telehealth consultations and medication delivery.Backed by investors, including HealthXCapital, Alternate Ventures and KDV Capital, Homage launched in 2016 with a caregiving program that focuses on people who need long-term assisted living and rehabilitation care. This integrates with Homage Health because the platform’s caregivers, including nurses, are able to provide in-person support for online consultations with doctors and can help follow up on recommended healthcare regimens.
Healthcare Policies and Regulatory Landscape
Policy changes and Reimbursement scenario of Singapore Home Healthcare Services
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.
