Market Entry - Wireless Healthcare Industry in Singapore: Analysis of Growth, Trends and Progress (2020 - 2025)

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About the Market

On the basis of technology, the wireless health market is further segmented into WPAN, WLAN/WiFi, WiMAX, and WWAN. The WPAN technology market segment accounted for the largest share of the global wireless health market, in 2015, due to low cost and highly secure facilities. WPAN links wireless health devices with computers, increasing accessibility to care. It is further segmented into Bluetooth, RFID, Ant+, Zigbee, Z-wave, and UWB. The Bluetooth segment accounted for the largest share of the market in 2015. Owing to the relatively slow deployment of managed telehealth systems, which is in part due to a reluctance from health providers to move past trials; issues with reimbursement and stringent regulations related to the use and storage of medical data; medical devices used by consumers to independently monitor their health shall provide the biggest uptake of wireless technology in consumer health devices, over the next five years. Federal mandates such as ‘meaningful use stage II’ and growing adoption of wireless health devices among the elderly, and patients suffering from chronic illnesses are some of the factors driving the growth of the market. In the developed regions, the market is estimated to grow rapidly over the forecast period due to rising internet penetration, growing medical tourism, and increasing government initiatives for e-health. Some of the major players in this market are All Scripts Healthcare Solutions Inc., AT &T Inc., Cerner Corporation, Omron Corporation, Philips Healthcare, Verizon Communications Inc., Qualcomm Inc., Aerohive Networks Inc., Vocera Communications Inc., and Alcatel-Lucent.

About the Geography

Singapore is a small, but wealthy nation with an open and trade-driven economy.  It is ranked number one by the World Bank to start and run a business.

Singapore continued to develop since 2010 due to its exports. However, growth in 2014-15 was slower owing to sluggish global economy and Singapore’s weak manufacturing sector. The government is attempting to restructure the economy by reducing dependence on foreign labor and increasing productivity in certain sectors. To boost FDI, the country offers tax concessions, easier loan, and foreign firm’s majority stake in a local company. The liberal laws of the country also make it possible for foreign nations to buy real estate. The government gives preference to investments in manufacturing and services activities as a part of a strategy to replace labor-intensive activities that have migrated offshore to countries like China.

The main challenges of doing business in Singapore are high excise taxes on some products, monopolies in certain sectors, and being an expensive place to do business in. However, it is the leading global business hub, which tells us about the strengths of Singapore’s market. It has Asia’s strongest Intellectual Property (IP) Protection along with low corruption and strong rule of law making it the most popular choice for investors in Asia.

 

                 Component Name                

Unit

From Site

                                       GDP           

USD billion

293

GDP Annual Growth Rate

%

0.6

GDP Per Capita

USD

51855

Unemployment Rate

%

2.1

Wages

USD/Month

3,443.83

Inflation Rate

%

-0.3

Consumer Price Index (CPI)

Index Points

99.15

Interest Rate

%

0.12

                    Loans to Private Sector                   

USD million/billion

434,237.15 million

Balance of Trade

USD million/billion

4,566.40 million

Business Confidence

(No Units)

-1

Manufacturing PMI

Index Points

50.1

Ease of Doing Business

(No Units)

1

Competitiveness Rank

(No Units)

2

Corruption Rank

(No Units)

8

Consumer Spending

USD million/billion

Bank Lending Rate (Consumers)

%

5.35

Corporate Tax Rate

%

17

Sales Tax Rate

%

7

            

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

1. Introduction

                1.1 Scope of the Report

                1.2 Regional Analysis

                                1.2.1 PESTLE Analysis

                                1.2.2 Analysis of Ease of Doing Business

2. Market Dynamics

                2.1 Drivers

                2.2 Restraints

                2.3 Opportunities

3. Market Demand Analysis

                3.1 Socio-Economic Segmentation

                3.2 Demographic Strengths & Weaknesses

                3.3 Spending Patterns

                3.4 Target Market Identification

4. Market Size of Wireless Healthcare Industry (USD millions)

                4.1 By Technology

                4.2 By Components

                4.3 By Application

                4.4 By End User

5. Market Entry

                5.1 Market Entry: The Strategy

                                5.1.1 Types of Entry Modes, by Market Entry Objectives

                                5.1.2 Competition Analysis

                                                5.1.2.1 Market Share

                                                5.1.2.2 Strategies Adopted, Recent Events 

                                5.1.3 Pricing Strategy

                                5.1.4 Supply Chain Analysis

                                                5.1.4.1 Trade (Import-Export Analysis)

                                                5.1.4.2 Distribution Network & Retail Analysis

                5.2 Market Entry: The Administration

                                5.2.1 How to Register a Company (Flowchart)

                                5.2.2 Registration Processes 

                                                5.2.2.1 Ministries Involved

                                                5.2.2.2 Criteria and Conditions

                                5.2.3 List of Forms & Documents

                                5.2.4 Product Control Guidelines specified by the Government

6. Sources

7. Disclaimer

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