The Singapore infection control market is projected to grow at a CAGR of 9.16% during the forecast period. One of the major driving forces toward the growth of the infection control market in Singapore is the booming tourism industry. To this end, it is important to note that From January to September 2019, international visitor’s arrival increased by 2.1 percent over the same period last year to reach 14.3 million visitors. Gazetted hotel room revenue for January to September 2019 was estimated at $3.1 billion, a year-on-year growth of 3.4 percent. Average Occupancy Rate (AOR) and Average Room Rate (ARR) held steady at 87.2 percent and S$219 respectively, while Revenue Per Available Room (RevPAR) rose slightly by 1.0 percent to reach S$191. Markets accounted for 55 percent of total IVA from January to September 2019 are China (2.8 million), Indonesia (2.3 million), India (1.1 million), Malaysia (0.9 million) and Australia (0.8 million). These markets were also Singapore’s top 5 international visitor-generating markets in 2019.
From the perspective of the hotel industry Gazetted hotel room revenue for Q3 2019 came in at an estimated S$1.1 billion, a growth of 6.4 percent year-on-year. Average Occupancy Rate (AOR) was at 91.2 percent in Q3 2019, a 1.5 percentage point increase compared to the same quarter last year. Average Room Rate (ARR) grew by 2.5 percent to S$226, and Revenue per Available Room (RevPAR) also rose by 4.2 percent year-on-year to S$206 in Q3 2019 [Source: Department of Statistics, Government of Singapore].
Further, with tourism receipts pertaining to food and beverage sales amounted to 2,593 million dollars in 2018. Additionally, for the year 2016, it can be delineated form the aforesaid graph that there has been a steady rise in tourists further necessitating the need for various establishments to observe stringent adherence to infection control methods and procedures. Thereby leading to an increase in demand for various products that constitute the infection control market of Singapore.
The other factor that is poised to drive the growth of the market for infection prevention is the chemical and chemical products industry. On a different note when it comes to devices that are sensitive to high heat, irradiation or ultra-low temperatures, chemical sterilization is the method that is mostly implemented. Therefore, for reusable devices that are a staple in emergency services such as paramedics and hospitals, chemical sterilization is best suited. To this extent, it may be noted that during 2019, the exports of the chemical and chemical products industry the same was to the tune of S$ 74.8 billion while the imports for the same being to the tune of US$ 40.8 billion. This section was also constituent of the top 3 commodity sections under the non-oil domestic exports as well as reexports.
Segmentation
By Product
By End User Industry
From the perspective of the hotel industry Gazetted hotel room revenue for Q3 2019 came in at an estimated S$1.1 billion, a growth of 6.4 percent year-on-year. Average Occupancy Rate (AOR) was at 91.2 percent in Q3 2019, a 1.5 percentage point increase compared to the same quarter last year. Average Room Rate (ARR) grew by 2.5 percent to S$226, and Revenue per Available Room (RevPAR) also rose by 4.2 percent year-on-year to S$206 in Q3 2019 [Source: Department of Statistics, Government of Singapore].
Further, with tourism receipts pertaining to food and beverage sales amounted to 2,593 million dollars in 2018. Additionally, for the year 2016, it can be delineated form the aforesaid graph that there has been a steady rise in tourists further necessitating the need for various establishments to observe stringent adherence to infection control methods and procedures. Thereby leading to an increase in demand for various products that constitute the infection control market of Singapore.
The other factor that is poised to drive the growth of the market for infection prevention is the chemical and chemical products industry. On a different note when it comes to devices that are sensitive to high heat, irradiation or ultra-low temperatures, chemical sterilization is the method that is mostly implemented. Therefore, for reusable devices that are a staple in emergency services such as paramedics and hospitals, chemical sterilization is best suited. To this extent, it may be noted that during 2019, the exports of the chemical and chemical products industry the same was to the tune of S$ 74.8 billion while the imports for the same being to the tune of US$ 40.8 billion. This section was also constituent of the top 3 commodity sections under the non-oil domestic exports as well as reexports.
Segmentation
By Product
- Disinfectants
- Sterilization
- Low-Temperature Sterilization
- Heat Sterilization
- Contract Sterilization
By End User Industry
- Healthcare
- Food and Beverage
- Chemical
Companies Mentioned
- 3M
- MEDIVATORS Inc. (Cantel Medical Asia/Pacific Pte Ltd)
- Miele
- Reckitt Benckiser (Singapore) Pte Ltd (Reckitt Benckiser Group plc)
- Tuttnauer
Methodology
LOADING...
