General & Plastic Surgery Devices - Singapore

The projected revenue in the General & Plastic Surgery Devices market market in Singapore is estimated to reach US$57.47m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 9.37%, leading to a market volume of US$89.92m by 2029.
In comparison to other countries worldwide, the United States is anticipated to generate the highest revenue, amounting to US$9.84bn in 2024.
The General & Plastic Surgery Devices market in Singapore is experiencing a surge in demand due to the country's growing medical tourism industry.

Definition:
The General & Plastic Surgery Devices market represents medical devices designed for general and plastic surgery procedures, such as disposable surgical supplies, open surgery instruments, minimally invasive surgery instruments.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Medtronic, Johnson & Johnson, Becton Dickinson, Conmed Corporation. Further information on the key players can be found in the Market Shares boxes.

Disposable surgical supplies
Open surgery instruments
Minimally invasive surgery instruments

Services (i.e., treatment expenses)
Blood and transplants derived from the human body
In vitro diagnostics
Diagnostic imaging

The General & Plastic Surgery Devices market in Singapore has been experiencing steady growth in recent years.

Customer preferences: In Singapore, customers have shown a growing interest in cosmetic procedures and plastic surgery. This can be attributed to several factors, such as the increasing disposable income of the population and the influence of social media and celebrity culture. Singaporeans are becoming more aware of the various options available to enhance their appearance and are willing to invest in cosmetic procedures to achieve their desired look.

Trends in the market: One of the key trends in the General & Plastic Surgery Devices market in Singapore is the rising popularity of minimally invasive procedures. Customers are increasingly opting for non-surgical treatments that offer shorter recovery times and fewer risks compared to traditional surgical procedures. This trend is driven by advancements in technology, which have made it possible to achieve significant results without the need for invasive surgery. Additionally, minimally invasive procedures often require less downtime, allowing individuals to resume their daily activities more quickly. Another trend in the market is the growing demand for body contouring procedures. Singaporeans are increasingly seeking treatments to address issues such as excess fat, loose skin, and cellulite. This trend can be attributed to changing beauty standards and the desire to achieve a more sculpted and toned physique. Body contouring procedures, such as liposuction and non-surgical fat reduction treatments, are becoming more popular as they offer effective solutions to these concerns.

Local special circumstances: Singapore is known for its medical tourism industry, attracting patients from around the world who seek high-quality healthcare services at competitive prices. The General & Plastic Surgery Devices market in Singapore benefits from this influx of international patients, as they contribute to the overall growth of the market. The country's reputation for excellent healthcare facilities and skilled medical professionals makes it an attractive destination for individuals seeking cosmetic procedures.

Underlying macroeconomic factors: The growth of the General & Plastic Surgery Devices market in Singapore can also be attributed to the country's strong economy. Singapore has a high GDP per capita and a stable political environment, which creates a favorable business climate for the healthcare industry. The government has also implemented policies to encourage medical tourism and attract foreign investments in the healthcare sector, further supporting the growth of the market. In conclusion, the General & Plastic Surgery Devices market in Singapore is experiencing steady growth due to increasing customer preferences for cosmetic procedures, the popularity of minimally invasive treatments, and the demand for body contouring procedures. The country's reputation as a medical tourism hub and its strong economy are additional factors driving the growth of the market.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.