,Singapore

Chart of the Day: SG healthcare spending to reach $45.9b in 2030

Fitch Solutions expects the government to ramp up its healthcare expenditure in the coming years.

This chart from Fitch Solutions shows its forecast of the Singapore government’s healthcare spending, which it expects to reach $45.9b (US$36.7b) in 2030 or 5.8% of the gross domestic product.

“The government’s commitment towards ensuring affordable healthcare through providing sufficient medical funding will see its healthcare expenditure continue to grow at a rapid pace over the coming years,” Fitch Solutions said in a report.

Fitch expects healthcare spending to reach $25.9b (US$19.5b) by the end of 2021, higher than the $24.5b (US$17.7b) recorded the year previous.

By 2025, it expects health expenditure to reach a value of $33b (US$26.3b), representing a compound annual growth rate of 6.1%.

Get Healthcare Asia Magazine in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Treatment options for NSCLC patients with EGFR mutation can now be accessed.
The report surveyed 500 senior-level hospital leaders.
Openspace Ventures led the Series A round.
Furthermore, Washington's vaccine donations are now at six million.
Meanwhile, 100% of public hospitals have installed hospital information systems as of July 2019.
It will guide the better application of Internet medical care in the prevention and control of AIDS.
The procedure is a breakthrough in treating leaking heart valves.
The hospital reportedly violated COVID guidelines and charged a patient excessively.
It also announces the addition of nearly 7,000 new beds, which will all be available in mid-2022.
Operation Surge Capacity helped reduce the usage from 130% to 80%.
Robotics are innovating the Singaporean healthcare industry through precision and power.
The machine aims to improve the diagnosis and treatment of pediatric cardiac conditions in the country.
This is following a net loss of $98m in the same period last year.
Fitch Solutions expects the government to ramp up its healthcare expenditure in the coming years.