Singapore Biomaterials in Healthcare Market Report 2022 to 2030

Singapore Biomaterials in Healthcare Market Analysis

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Singapore Biomaterials in Healthcare Market is expected to witness growth from $188 Mn in 2022 to $527 Mn in 2030 with a CAGR of 13.80% for the forecasted year 2022-2030. Tissue engineering and other regenerative therapies that depend on biomaterials are becoming more widely known and used in Singapore, which has led to an expansion of the country's Biomaterials in the Healthcare market. The market is segmented by type and by application. Some key players in this market include Biosensors International, Everlife, BASF SE, Johnson and Johnson, Medtronic and Evonik Industries.

ID: IN10SGMD003 CATEGORY: Medical Devices GEOGRAPHY: Singapore AUTHOR: Jigyasu Bhandari

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Singapore Biomaterials in Healthcare Market Executive Analysis

Singapore Biomaterials in Healthcare Market is expected to witness growth from $188 Mn in 2022 to $527 Mn in 2030 with a CAGR of 13.80% for the forecasted year 2022-30. Singapore's projected government healthcare spending for 2020 is $13.2 Bn, and by 2029, it is anticipated to have tripled to $36 Bn. From $21.4 Bn in 2017 to $23 Bn in 2023, it is predicted that Singapore's healthcare industry will grow by 9%. By 2029, it is projected that the sector will have more than doubled, reaching $49.4 Bn. Healthcare spending in Singapore, which encompasses both public and private expenses, is projected to account for 5.9% of GDP in 2019 and up to 9% by 2029.

In order to grow fresh tissue or organs for transplantation, biomaterials are used in Singapore healthcare market, which can help to solve the shortage of donor organs. Hydrogels and dressings made of biomaterials are used to encourage wound healing and stop infection. Dental uses utilizing biomaterials, such as dental implants, can enhance the function and appearance of teeth. Using biomaterials to deliver medications directly to specific body locations can increase therapy effectiveness and minimize side effects. In order to be used securely in medical devices and implants, biomaterials must be biocompatible, which means they must not have any negative effects on the body. Many biomaterials have great wear resistance, making them suitable for use in implants and medical devices that are subjected to daily use. Biomaterials are adaptable and can be tailored to fit a variety of medical needs, giving healthcare professionals many options. Biomaterials are frequently more affordable to produce than conventional materials, making them an economical choice for healthcare practitioners.

singapore biomaterials in healthcare

Market Dynamics

Market Growth Drivers

Tissue engineering and other regenerative therapies that depend on biomaterials are becoming more widely known and used in Singapore, which has led to an expansion of the country's Biomaterials in Healthcare market. To support the expansion of the biomedical sector, the Singaporean government has made significant investments in biomaterials research and development. Manufacturers now have more chances to create and market new biomaterials thanks to this support. Due to a population that is growing older, rising healthcare costs, and an increase in the prevalence of serious illnesses, Singapore is anticipated to see a continued increase in demand for medical devices that integrate biomaterials. Biomaterials manufacturers now have new opportunities to develop and sell new products in Singapore's Biomaterials in Healthcare market thanks to quick advances in materials science and biomedical engineering.

Market Restraints

With a population of roughly 5.8 million, the Singaporean healthcare industry is quite small. It may be difficult for manufacturers of biomaterials to achieve economies of scale and create sizable revenue due to the small size of the market. Singapore's Biomaterials in Healthcare industry is extremely competitive, with a number of well-established players who have a solid reputation for their brands and a long list of loyal customers. Due to this, it may be difficult for new competitors to acquire ground and establish themselves.

Competitive Landscape

Key Players

Biosensors International (SG)
Everlife (SG)
BASF SE
Johnson and Johnson
Medtronic
Evonik Industries

Healthcare Policies and Regulatory Landscape

The regulatory authority in charge of making sure that medical devices and biomaterials are safe, high-quality, and effective in Singapore is the Health Sciences Authority (HSA). Through a risk-based classification system, the HSA controls all medical equipment and biomaterials and makes sure they adhere to the necessary laws. The creation, production, and marketing of medical devices in Singapore are regulated by a set of laws known as the Medical Device Regulations (MDR). Before they can be used in Singapore, biomaterials must pass stringent testing and assessment procedures mandated by the MDR. Through the promotion of innovation, the development of talent, and the improvement of regulatory procedures, the Medical Technology Industry Transformation Map (ITM) is a government effort designed to transform the medical technology industry in Singapore. With an emphasis on creating cutting-edge patient solutions, the ITM offers a roadmap for the industry's expansion and development.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 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
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

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

6. Methodology and Scope

Biomaterials in Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on type, the market is segmented into Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, and Natural Biomaterials. The Metallic Biomaterials segment accounted for the largest share of the Singapore market in 2019. The growing geriatric population Singaporely is expected to drive growth for this segment.

Metallic Biomaterials
- Stainless Steel
- Titanium & Titanium Alloys
- Cobalt-Chrome Alloys
- Gold
- Silver
- Magnesium
Polymeric Biomaterials
- Polymethylmethacrylate
- Polyethylene
- Polyester
- Silicone Rubber
- Nylon
- Polyetheretherketone
- Other Polymeric Biomaterials
Ceramics
- Calcium Phosphate
- Zirconia
- Aluminum Oxide
- Calcium Sulfate
- Carbon
- Glass
Natural Biomaterials
- Hyaluronic Acid
- Collagen
- Gelatin
- Fibrin
- Cellulose
- Chitin
- Alginates
- Silk

By Application (Revenue, USD Billion):

The cardiovascular, orthopaedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological/CNS, and other applications segments are made up of the biomaterials market. The market category for wound healing is anticipated to have the highest CAGR in 2019. The market will increase as a result of factors including expanding healthcare infrastructure, a large population pool, a rising diabetic population, and rising healthcare spending. Surgical Guides

Cardiovascular
- Catheters
- Stents
- Implantable Cardiac Defibrillators
- Pacemakers
- Sensors
- Heart Valves
- Vascular Grafts
- Guidewires
- Others
Orthopedic
- Joint Replacement
  - Knee Replacement
  - Hip Replacement
  - Shoulder Replacement
  - Others
- Viscosupplementation
- Bioresorbable Tissue Fixation
- Spine?
  - Spinal Fusion Surgeries
  - Minimally Invasive Fusion Surgeries
  - Motion Preservation & Dynamic Stabilization Surgeries
    - Pedicle-Based Rod Systems
    - Interspinous Spacers
    - Artificial Discs
- Fracture Fixation Devices
  - Bone Plates
  - Screws
  - Pins
  - Rods
  - Wires
- Synthetics Bone Grafts
Ophthalmology
- Contact Lenses
  - Intraocular Lenses
  - Functional Replacement of Ocular Tissues
  - Synthetic Corneas
  - Others
Dental
- Dental Implants
- Dental Bone Grafts & Substitutes
- Dental Membranes
- Tissue Regeneration
Plastic Surgery
- Soft-Tissue Fillers
- Craniofacial Surgery
Wound Healing
- Wound Closure Devices
  - Sutures
  - Staples
- Surgical Hemostats
- Internal Tissue Sealants
- Adhesion Barriers
- Hernia Meshes
Tissue Engineering
- Scaffolds for Regenerative Medicine
- Nanomaterials for Biosensing
- Tailoring of Inorganic Nanoparticles
  ?
Neurological/Central Nervous System Applications
- Shunting Systems
- Cortical Neural Prosthetics
- Hydrogel Scaffolds for CNS Repair
- Neural Stem Cell Encapsulation
  ?
Other Applications
- Drug Delivery Systems
- Gastrointestinal Applications
- Bariatric Surgery
- Urinary Applications

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.