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Healthcare Industry in Singapore

The greatest superpowers in the world used to be at the forefront of the healthcare system worldwide. Due to the high cost of operations in most developed nations, the overall mishandling of funds, and inefficiency of clinical trials, many third world nations are beginning to find their place as an emerging alternative to the powers of the past. The healthcare and pharmaceutical industries are billion dollar ones that expand around the entire world. Being responsible for the health of human inhabitants and for the development of life saving medications, they continue to be an expanding and ever growing ones. Looking for new alternatives to the ways of the past, and the soaring costs incurred by the operations of both. all eyes are becoming focused on third world nations as a viable alternative.

Singapore is emerging in the healthcare industry as a powerful leading force. The cost of medicine, and medical research, is a fraction of that for developing nations. With so many hurdles that continually block the medical research field in the more developing nations, Singapore is a welcomed change. Being more efficient, having an expedient program operation, and operating at a fraction of the cost, many overseas medical companies are opting to move their healthcare systems to Singapore.

That means that there is a heavy responsibility being placed upon Singapore's healthcare industry to catch up to the developing nations. Taking from the Western model of healthcare administration and operations, their goal is to create a healthcare system that can compete on a global scale, but not be near as costly, and much more efficient. Helping in the development of pharmaceuticals, their clinical trial processes, are proving to be a great model for the rest of the world.

As with any new emerging field, the healthcare system is trying feverishly to stay ahead of the demands placed upon it, and to live up to the high expectations that are being placed upon it. With any success, it will be the catalyst for change not only in other healthcare markets in third world nations, but perhaps to revamp the systems to be more efficient, in the highly developed nations of the world. What it holds for the future, remains yet to be seen. But, the advances being made can make a difference for healthcare systems around the world. Keeping an eye on Singapore’s healthcare system as a viable option to emulate in the future of healthcare models, may be the new vision.

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