Singapore healthcare industry : social trends and medical industry concentration.

• Main Authors: Ong, Ta-Hong., Wong, Kai Chi., Soh, Eileen Yi Ling.
• Other Authors: David Alexander Reisman
• Format: Final Year Project
• Language: English
• Published: 2012
• Subjects: DRNTU::Humanities
• Online Access: http://hdl.handle.net/10356/50798
• Institution: Nanyang Technological University

The global demand for high-quality healthcare is rising as developing countries are growing more affluent. Despite this increasing demand, the supply of top-notch hospitals remains inelastic. This mismatch has triggered a scramble by healthcare multi-nationals to acquire high-end hospitals. Our paper captures the impact of these social trends and healthcare supply concentration in Singapore’s medical tourism industry. We derived a statistical relationship between rising incomes and medical tourism growth as a basis of our forecast of Singapore’s medical tourist numbers. Finally, we review the recent wave of supplier concentration through the case study of IHH. We believe that these trends will propel Singapore into a successful regional medical tourism hub.