Singapore Urgent Care Center Market

Singapore Urgent Care Center Market Overview:

The Singapore urgent care center market is projected to exhibit a growth rate (CAGR) of 5.30% during ​2024-2032​. The expanding access and availability of healthcare facilities, growing population, and increased consciousness and utilization of preventive healthcare represents some of the key factors driving the growth of the market.

Singapore Urgent Care Center Market Trends:

Expanding Healthcare Accessibility and Availability

There has been a continuous increase in patients preferring easily accessible and convenient health facilities, driving the growth of urgent care centers in Singapore. As more people move to urban areas and the population grows, there is a rising demand for emergency medical facilities that provide faster and more efficient services compared to traditional large hospitals. AI investment in Singapore is currently focused primarily on administrative tasks like automating documentation, scheduling appointments and improving workflow, above clinical and diagnostic applications. However, this looks set to change in the near future, as Singapore’s healthcare leaders plan to invest in AI for clinical decision support (35%), to predict outcomes (33%) and to integrate diagnostics (28%). Urgent care centers present an even more compelling proposition with on-demand care, treatment of acute conditions, longer hours of operation, and no appointments required. This greatly improves the satisfaction of the patients and fulfills the medical requirements of a large number of people, thus leading to the strong growth of the urgent care center facilities in the area.

Increasing Awareness Regarding Preventive Healthcare

Increased consciousness and utilization of preventive and early intervention measures for diseases are key drivers to the market demand for urgent care facilities in Singapore. In 2021, 5% of the Ministry of Health’s (MOH’s) non-COVID-19 related budget, amounting to $720 million, was allocated for preventive healthcare efforts, including $330 million to fund the work of the Health Promotion Board. These efforts include public education campaigns, healthy lifestyle activities in schools, workplaces, and community settings, engaging industry to spur reformulation of staple food products, subsidies for health screening and recommended vaccinations, and regulations to protect health.  As people increasingly prioritize their health and seek to avoid illnesses, they are more likely to seek medical advice and treatment earlier. Urgent care centers are well-positioned to capitalize on this trend by offering a variety of preventive care services such as vaccinations, health checks, and minor emergency treatments. This proactive approach aids in the early identification of potential health issues. Consequently, the development of preventive healthcare is driving more people to utilize urgent care services, thereby fueling market growth in Singapore.

Singapore Urgent Care Center Market News:

• In July 2023, Singapore healthtech start-up Speedoc announced a partnership with Singapore’s primary healthcare provider Parkway Shenton. The partnership intends to leverage Speedoc’s expertise in providing hospital-level care and expand care options for patients of Parkway Shenton, extending their reach into the community while providing medical care within the comfort of patients’ homes.
• In April 2024, Fullerton Health Corporation Limited (“Fullerton Health” or the “Company”) announced that it has come into an agreement with Far East Drug (B.V.I.) Co. Ltd. (“Far East Drug” or “FED”), involving an investment in a majority stake in the business by Far East Drug.
   

Singapore Urgent Care Center Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2024-2032​. Our report has categorized the market based on service and ownership.

Service Insights:

• Trauma/Injury Services
• Vaccination Services
• Acute Illness Treatment Solutions
• Diagnostic Services
• Others
   

The report has provided a detailed breakup and analysis of the market based on the service. This includes trauma/injury services, vaccination services, acute illness treatment solutions, diagnostic services, and others.

Ownership Insights:

• Corporate Owned
• Hospital Owned
• Physical Owned
• Others
   

A detailed breakup and analysis of the market based on the ownership have also been provided in the report. This includes corporate owned, hospital owned, physical owned, and others.

Regional Insights: 

• North-East
• Central
• West
• East
• North
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North-East, Central, West, East, and North.  

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Singapore Urgent Care Center Market Report Coverage:

Key Questions Answered in This Report:

• How has the Singapore urgent care center market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Singapore urgent care center market?
• What is the breakup of the Singapore urgent care center market on the basis of service?
• What is the breakup of the Singapore urgent care center market on the basis of ownership?
• What are the various stages in the value chain of the Singapore urgent care center market? 
• What are the key driving factors and challenges in the Singapore urgent care center?
• What is the structure of the Singapore urgent care center market and who are the key players?
• What is the degree of competition in the Singapore urgent care center market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Singapore urgent care center market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Singapore urgent care center market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Singapore urgent care center industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.