BMI View: Singapore will continue to be one of the fastest growing markets in developed Asia. Market growth will be supported by strong government financial backing for the healthcare sector, new healthcare development projects and a well-established medical tourism industry. The country will strengthen its status as a distribution hub for the region despite adverse trading conditions.
Latest Updates And Key Forecasts
We maintain our forecast that the market will expand by a 2015-2020 CAGR of 9.1% in local currency terms, which will take expenditure to SGD1.1bn in 2020. Market growth in US dollar terms will be higher at a 2015-2020 CAGR of 11.0%, which should see it increase to USD857.7mn in 2020.