Singapore medical device market growth cut to 8.4% for 2018-2023: Fitch Solutions
Singapore
SINGAPORE'S medical device market is projected to register a compound annual growth rate (CAGR) of 8.4 per cent from 2018 to 2023, down from a previous estimate of 9.1 per cent, with the industry valued at some S$1.3 billion in 2023, according to a report by Fitch Solutions Macro Research on Thursday.
This comes amid weaker global economic momentum, and the ongoing US-China trade tensions, though increased government expenditure on the growing healthcare needs of an ageing population will likely cushion the effects of a slowing economy, Fitch Solutions said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
OECD upgrades global growth outlook as US outperforms
US official urges China, Russia to declare only humans, not AI, control nuclear weapons
Banking giants race to Riyadh as MBS steps up pressure campaign
Biden now calls ally Japan ‘xenophobic’ along with China, Russia
Japanese companies struggle with yen’s continued weakness
Australia’s March goods trade surplus narrows to more than 3-year low