Business opportunity
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Digital Disruptions in Healthcare in Singapore

05.04.2017
Singapore wants to be and stay in the forefront of Smart City and Smart Nation initiatives, and healthcare is one of the key investment areas. Success in Singapore acts as a good reference to Southeast Asia, China and India. Finnish companies should at least test their value propositions in Singapore and if the offering matches to the needs, do their best to be in the short lists of the potential buyers.
Interested parties can join Finnish delegation to the following events in Singapore:
  • Ageing Asia event series 24.-27.4.2017
  • Finnish Health Tech to Singapore events 20.-22.9.2017
  • EU funded SME delegation to Singapore and Thailand Sept 2017
  • and connect to Team Finland Singapore expert riku.makela@formin.fi for further discussions.
Changes in the market that have opened up this opportunity:
 
Singapore has established strong fundamentals in healthcare excellence, having established the world’s 4th best healthcare infrastructure. The Singapore government is dedicated to continually improving its medical industry with innovation, and a focus on improving cost-effectiveness and optimising operations throughout the healthcare system. This confluence of factors presents Singapore as a fundamentally sound environment to introduce and testbed product-market fit for HealthTech companies. Singapore can serve as a primary stage ahead of expansion to the rest of the Southeast Asia region.
 
The estimated volume of the demand, growth rate and time window:
 
Singapore's public healthcare spending is only 3% of GDP, but as the country had double GDP/capita compared to Finland, the total healthcare spending is estimated to rise 8.9 percent annually, to $17.8 billion in 2018.
 
Offerings (products, services, solutions) relevant to this opportunity:
 
Singaporean healthcare organizations want to have the best concepts, services and technologies that are available while we have to acknowledge the slowness of change processes in medical community. Finnish companies can offer digital solutions for boosting the efficiency of healthcare processes, moving out existing processes from hospitals and other service providers to third parties (e.g, reservations of appointments) and piloting the future of personalized healthcare (Health 3.0).
 

A webinar to be organized on 20.4. 9:00-10:00 FIN time. In ​ Singapore, both public and private sector are interested in finding new digital solutions to boost the efficiency and enable better outcomes of healthcare services. Singapore as a small nation is a good testbed and location for partnerships to access larger Southeast Asian market as well as China and India. Registration to the webinar: https://www.lyyti.in/singapore_digi_health. The webinar is in Finnish.

EU delegation to Singapore and Thailand in September 2017 - almost zero cost opportunity for Finnish companies!


Healthcare and Medical Technologies business delegation 5.-8.9.2017 to Singapore and Medical Fair Thailand is almost zero cost opportunity to meet prospective customers and partners. The package is provided by EU Business Avenues program. Embassy of Finland will organize additional match-making for participating Finnish SMEs.

Companies benefit from coaching, match making and big logistical and financial support. Deadline for applications is May 12th. APPLY NOW and see more information at https://www.eu-gateway.eu/business-missions/missions-calendar/healthcare-medical-technologies-thailand-singapore. If you have any questions, please contact riku.makela@formin.fi in Singapore.

If you are interested in this opportunity, please contact. Contact details can be found on the right hand side of this page.

See also:

20.4.2017 Singapore DigiHealth webinar slides
See the Singapore webinar, 20.4.2017

Digital Health Technology Guide for Singapore and Southeast Asia
Singapore – Healthcare Delivery and its Roadmap to Digital Health
TF Singapore Roadmap to Digital Health - Overview, appendix
 

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