Singapore’s healthcare sector is advancing significantly by incorporating artificial intelligence (AI) into medical practices, marking a notable leap forward.
GlobalData’s research reveals that Singapore has witnessed 10 partnership deals in the medical devices sector in 2023 so far, signaling a commendable pace after finalizing approximately 12 similar partnership deals in 2022.
Lunit Inc, a leading South Korean medical AI company, has recently partnered with NTT DATA Singapore to introduce their AI-driven chest X-ray solution, Lunit INSIGHT CXR, in two medical institutions – Singapore General Hospital and Changi General Hospital.
Shreya Jain, Medical Devices Analyst at GlobalData, comments: “Singapore’s public hospitals are leading a transformative shift in the healthcare realm by integrating AI into the medical imaging process. This integration underscores the importance of enhanced international collaborations, which has played a crucial role in propelling rapid advancements in emerging technologies and facilitating improved data-sharing capabilities within the healthcare sector.”
Lunit’s AI solution, which has received FDA clearance and the CE mark, has already made a significant impact on the global medical community. Now, the introduction into Singapore’s healthcare system not only elevates the country’s status as a hub for medical AI in Southeast Asia but also establishes the groundwork for the growth of the health-tech industry throughout the region.
Jain concludes: “In the upcoming years, Singapore’s healthcare sector is poised to experience substantial growth, primarily attributed to consistent and strong government support. Through ongoing strategic initiatives such as AimSG and Healthier SG, Singapore is actively establishing itself as an appealing hub, enticing medtech companies to further amplify the extent and potential of their products and services by engaging in collaborative ventures.”
Notes
Quotes provided by Shreya Jain, Medical Devices Analyst at GlobalData
This press release is written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData’s team of industry experts
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