Singapore Healthcare Artificial Intelligence
According to an Asia Pacific Medical Technology Association report, there is enormous potential for the greater use of artificial intelligence (AI) in medical technology in Asia Pacific, a market that is worth an estimated $250 million, with 50 percent growth projected between 2020 and 2028. AI is expected to deliver transformation in next generation healthcare in both the public and private sector.
Healthcare has been identified as one of the five strategic sectors for AI adoption under Singapore’s National AI Strategy, launched in 2023 at a budget of $743 million. The healthcare sector is expected to benefit from government initiatives, funding, and a strong regulatory framework overseen by Singapore’s Health Sciences Authority, driven primarily by Singapore’s demographic challenges stemming from a rapidly aging population. By 2030, 24% of Singapore’s population will be over the age of 65, creating an urgent need to manage healthcare demands by empowering the population to adopt AI. Remote monitoring technologies such as fall detection, social robots, and home monitoring to support independent living are some examples of AI technology to enhance elderly care and safety. AI and digital tools, via apps, also provide personalized health recommendations and monitoring.
Singapore is using AI in many health sectors including medical imaging and diagnostics, where AI can enhance the speed and accuracy of disease detection by analyzing x-rays, magnetic resonance imaging scans (MRIs), and computed tomography (CT) scans and identifying other pathology patterns and indicators. AI is also used in predictive diagnostics where it analyzes patient data to identify those at risk of developing chronic conditions to enable early intervention and preventive care. In time, AI will be harnessed in personalized and precision medicine. In the area of hospital operations, AI optimizes patient flow, bed management, operating room scheduling, and emergency room triage, which in turn improves efficiency. AI-powered wearables help with chronic disease management and remote monitoring. Lastly, for overall public health management, AI and digital health tools are used to personalize health plans for individuals and improve health monitoring at the population level.
U.S. companies in the medical technology space that incorporate AI and that are interested in the Singapore and the wider Southeast Asian market should contact Luanne Theseira, Commercial Specialist.