Singapore Diagnostic Labs Market By Provider Type (Stand-Alone Diagnostic Labs, Hospital-Based Diagnostic Labs, Diagnostic Chains), By Test Type (Pathology v/s Radiology), By End User (Referrals, Walk-ins, Corporate Clients), By Region, Competition Forecast and Opportunities, 2018-2028F

  • Industry : Healthcare
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Singapore diagnostic labs market is projected to witness an impressive growth during the forecast period. The industry has observed a huge transformation since the historic years. The growing consciousness among people about their well-being and longevity has urged them to get themselves regularly tested to keep a track record of their vital stats and to sustain their health quotient.

Singapore diagnostic labs market is expected to grow significantly in the projected period, owing to the increasing attraction of premium regional medical tourists in Singapore because of high quality healthcare treatment services offered by the country. Genetic tests that involve the identification of DNA, RNA, genes, and chromosomes are also gaining considerable popularity in the country which can boost the market. In addition, rising collaborations and acquisitions in diagnostic labs segment can unfold several growth opportunities.

Adoption of Point-of-Care Testing (PoCT) and Home Sample Collection Services

The COVID-19 pandemic altered the diagnostic market's reach and capabilities while highlighting the importance of diagnosis and treatment. Consumer adoption of point-of-care testing (PoCT) and home sample collection increased. Also, equating with online consultations, done with the help of telehealth as well as telemedicine services, diagnostic labs have started to offer diagnosis at the doorsteps of consumers. This has been achieved with the help of technological innovation and has reconditioned the entire healthcare segment. In addition, there are several people who, to get their regular health screening done, do not pay a visit to their physicians simply because of issues like standing in queues and long waiting hours. To assist this scenario, Singapore has house call doctors that perform a full-body check-up at home, thus, expanding the Singapore diagnostic labs market

Moreover, some companies like SATA CommHealth in Singapore are providing accessible and reasonable mobile medical amenities at the earliest and professionally. This is being carried out with the aid of their mobile medical services squad which is inclusive of a fleet of X-ray buses and a Mammo-on-Wheels bus. With a considerable assistance from a group of doctors, radiographers, nurses, drivers and clinic assistants, a broad range of facilities like health screening are brought together that can result in timely detection of chronic disorders like respiratory illnesses, high blood pressure and diabetes. This advancement in the country’s diagnostic services is likely to propel the Singapore diagnostic labs market..  

Automation in Diagnostic Laboratories

By carefully integrating robotics and laboratory automation software, laboratory automation systems are helping labs in simplifying procedures. Laboratories effectively manage rising test volumes, make better use of workers, and cut costs by automating processes related to testing.

To enable successful execution, price management, workforce management, and system integration are essential. With a limited labor force, automation strives to handle rising workload demands, eliminate errors, and improve laboratory performance. It takes a coordinated strategy that incorporates best practices in lean work processes, IT support, and qualified staff to improve laboratory functions rather than simply buying technologically advanced equipment. Adoption of technology is undoubtedly easing the challenges of these unpredictable times in this period of industry competition over a declining workforce.


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Market Segmentation

The Singapore diagnostic labs market is segmented based on provider type, test type, end user, region, and company. Based on provider type, the market is categorized into stand-alone diagnostic labs, hospital-based diagnostic labs, and diagnostic chains. Based on test type, the market is split into pathology & radiology. Based on end user, the market is fragmented into referrals, walk-ins, and corporate clients.

Market players

Innoquest Diagnostics Pte. Ltd., Raffles Diagnostica Pte. Ltd., Parkway Laboratory Services Ltd., Quest Laboratories Pte. Ltd., National Healthcare Group Diagnostics, Pathology & Clinical Laboratory Pte. Ltd., Reste Laboratories Pte. Ltd., Biomedics Laboratory Pte. Ltd., Acumen Diagnostics Pte. Ltd., Lifescan Imaging Pte. Ltd. are the key players operating in the Singapore Diagnostic Labs market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

Provider Type

Test Type

End User

Regional scope

Central & East Region; West Region; North Region & North-East Region

Key companies profiled

Innoquest Diagnostics Pte. Ltd., Raffles Diagnostica Pte. Ltd., Parkway Laboratory Services Ltd., Quest Laboratories Pte. Ltd., National Healthcare Group Diagnostics, Pathology & Clinical Laboratory Pte. Ltd., Reste Laboratories PTE. LTD., Biomedics Laboratory Pte. Ltd., Acumen Diagnostics Pte. Ltd., Lifescan Imaging Pte. Ltd.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, Singapore diagnostic labs market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  •  Singapore Diagnostic Labs Market, By Provider Type:
    • Stand-Alone Diagnostic Labs
    • Hospital-Based Diagnostic Labs
    • Diagnostic Chains
  • Singapore Diagnostic Labs Market, By Test Type:
    • Pathology
    • Radiology
  • Singapore Diagnostic Labs Market, By End User:
    • Referrals
    • Walk-ins
    • Corporate Clients
  •   Singapore Diagnostic Labs Market, By Region:
    • Central & East Region
    • West Region
    • North Region
    • North-East Region 

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Singapore diagnostic labs market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Singapore Diagnostic Labs market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Service Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

4.1.  Brand Awareness

4.2.  Factors Affecting the Choice of Diagnostic Laboratory

4.3.  Preference Among Population, By Provider Type

5.    Singapore Diagnostic Labs Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Provider Type (Stand-Alone Diagnostic Labs, Hospital-Based Diagnostic Labs, Diagnostic Chains)

5.2.2.     By Test Type (Pathology v/s Radiology)

5.2.3.     By End User (Referrals, Walk-ins, Corporate Clients)

5.2.4.     By Region (Central & East Region, West Region, North Region, North-East Region)

5.2.5.     By Company (2022)

5.3.  Market Map

5.3.1.     By Provider Type

5.3.2.     By Test Type

5.3.3.     By End User

5.3.4.     By Region

6.    Singapore Stand Alone Diagnostic Labs Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Test Type

6.2.2.     By End User

7.    Singapore Hospital Based Diagnostic Labs Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Test Type

7.2.2.     By End User

8.    Singapore Diagnostic Chains Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Test Type

8.2.2.     By End User

9.    Market Dynamics

9.1.  Drivers

9.1.1.     Automation in Diagnostic Laboratories

9.1.2.     Growing Awareness Amongst People about their Well-being

9.1.3.     Adoption of Point-of-Care Testing (PoCT) and Home Sample Collection Services

9.2.  Challenges

9.2.1.     Inaccuracy in Diagnostic Tests Results

9.2.2.     Dearth of Skilled Professionals

9.2.3.     Repetitive Tests due to Inappropriate Sample Volume

10.  Market Trends & Developments

10.1.              Growing Medical Tourism

10.2.              Evolution of Genetic Testing

10.3.              Mergers & Acquisitions

11.  Policy and Regulatory Landscape

12.  List of Top 10 Diagnostic Laboratories

12.1.              Top 10 Labs in Central & East Region

12.2.              Top 10 Labs in West Region

12.3.              Top 10 Labs in North Region

12.4.              Top 10 Labs in North-East Region

13.  Pricing Analysis of Different Tests Offered by Top Five Players

13.1.              Blood Glucose

13.2.              Cholesterol

13.3.              COVID-19

13.4.              Follicular Stimulating Hormone (FSH)

13.5.              Thyroid Stimulating Hormone (TSH)

13.6.              Magnesium

13.7.              Calcium

14.  Digitalization Across Laboratories in Singapore

15.  Singapore Economic Profile

16.  Competitive Landscape

16.1.              Business Overview

16.2.              Product Offerings

16.3.              Recent Developments

16.4.              Financials (In Case of Listed Companies)

16.5.              Key Personnel

16.5.1.                Innoquest Diagnostics PTE. LTD.

16.5.2.                Raffles Diagnostica PTE. LTD.

16.5.3.                Parkway Laboratory Services Ltd.

16.5.4.                Quest Laboratories PTE. LTD.

16.5.5.                National Healthcare Group Diagnostics

16.5.6.                Pathology & Clinical Laboratory PTE. LTD.

16.5.7.                Reste Laboratories PTE. LTD.

16.5.8.                Biomedics Laboratory PTE. LTD.

16.5.9.                Acumen Diagnostics PTE. LTD.

16.5.10.             Lifescan Imaging PTE. LTD.  

17.  Strategic Recommendations

Figures and Tables

Frequently asked questions

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A significant augmentation in medical tourism in Singapore, the growing necessity and adoption of genetic testing in the country and the rising number of national and international collaborations with the diagnostic labs will boost theSingapore diagnostic labs market in the near future.

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Innoquest Diagnostics Pte. Ltd., Raffles Diagnostica Pte. Ltd., Parkway Laboratory Services Ltd., Quest Laboratories Pte. Ltd., National Healthcare Group Diagnostics, Pathology & Clinical Laboratory Pte. Ltd., Reste Laboratories Pte. Ltd., Biomedics Laboratory Pte. Ltd., Acumen Diagnostics Pte. Ltd., Lifescan Imaging Pte. Ltd. are the key players operating in the Singapore diagnostic labs market.

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The Singapore diagnostic labs market is expected to undergo a significant growth in the forthcoming years. This can be attributed to the fact that a major percentage of diagnostic laboratories are opting for completely automated services that provide more accurate and precise results and thus aid in timely diagnosis and treatment options. Moreover, the growing prevalence of chronic diseases amongst people due to unhealthy lifestyle and the rising number of aged people in the country further boost the Singapore diagnostic labs market.

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The Singapore diagnostic labs market is indeed a successful business offering a profusion of growth opportunities. Diagnostic labs have come out to be a principal component of healthcare segment because of increased dependency of medical professionals on the diagnostic segment to authenticate and correctly diagnose the disease to begin with the required treatment.

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Sakshi Bajaal

Business Consultant
Press Release

Singapore Diagnostic Labs Market to be Dominated by Pathology Test Type Through 2028F

Jan, 2023

The facility of home sample collection and a progressively aging population are projected to fuel the Singapore diagnostic labs market in the forecast period, 2024-2028.

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