Top Singapore healthcare stocks to watch in 2026
Singapore's healthcare sector offers attractive trading and investing opportunities with its combination of established hospital operators, specialist medical services and healthcare REITs. Find out which Singapore healthcare stocks you should pay attention to this year.
Important to know
This article is intended for educational and informational purposes only and does not constitute any form of investment advice. Please ensure that you understand the risks and consider your specific investment objectives, financial situation or particular needs before making a commitment to trade.
Understanding healthcare stocks and what drives their prices
Healthcare stocks represent shares in companies that provide medical services, products or technologies. The healthcare sector makes up about 10% of global spending, making it a substantial market segment for traders and investors1.
In Singapore, healthcare spending is projected to reach S$30 billion by 2030, according to the Ministry of Health2. This growing investment reflects the sector's increasing importance in the local economy, driven by an ageing population and emphasis on medical excellence.
Singapore has positioned itself as a medical hub in Southeast Asia, attracting patients from neighbouring countries seeking high-quality care. This regional prominence creates unique opportunities in the Singapore healthcare stock market3.
Types of healthcare stocks and price drivers
Singapore's healthcare sector encompasses several distinct categories, each influenced by different market factors:
- Hospital operators: Companies managing private hospitals and medical centres. Their prices are influenced by patient volumes, medical tourism trends, and operational efficiency.
- Specialist care providers: Firms focusing on specific medical areas such as women's health or aesthetic medicine. These stocks are sensitive to demographic trends and discretionary spending patterns.
- Healthcare REITs: Real Estate Investment Trusts that own healthcare properties. Their performance is tied to property values, interest rates, and the strength of their tenant relationships.
- Medical suppliers: Companies that manufacture medical equipment and consumables. Their stock prices often respond to global supply chain dynamics and healthcare facility spending.
- Health technology: Businesses developing healthcare software and innovative technologies. These stocks are driven by technological advancements and adoption rates by healthcare providers4.
Trading vs investing in SG healthcare stocks: what to know
As with any other assets, it’s crucial to distinguish between trading and investing when taking on the securities of Singapore-listed healthcare companies.
Trading healthcare stocks typically focuses on short-term price movements. Traders often capitalise on earnings announcements, regulatory approvals, or biotech trial results. For example, a sudden spike in shares of a Singapore-listed medtech firm following a Health Sciences Authority (HSA) approval can present a quick profit opportunity. Traders also rely heavily on technical analysis, momentum indicators, and market sentiment. Here, volatility is embraced, rather than feared.
In contrast, investing in healthcare stocks means taking a long-term view. Investors look for companies with durable competitive advantages, such as strong R&D pipelines, scalable diagnostics platforms, or recurring revenue from hospital services. They analyse fundamentals like earnings growth, return on equity, and healthcare demand trends in Singapore’s aging population. Investing typically rewards patience and compound growth.
Both strategies can be profitable, but they require different mindsets. Traders need agility and risk tolerance, while investors need discipline and a focus on intrinsic value.
Interestingly, what’s worth noting is that some Singapore healthcare stocks, like IHH Healthcare or Raffles Medical Group, offer liquidity and stability suitable for both approaches. In such cases, it’s important that you decide which strategy you plan on applying to a particular stock right from the outset, so as to avoid any confusion further down the line.
For optimal results, align your strategy with your goals. Are you seeking short-term gains from biotech catalysts, or long-term exposure to Singapore’s resilient healthcare sector?
Understanding this distinction helps you choose the right stocks, tools, and timing. Whether you’re trading breakouts or investing in long-term healthcare trends, knowing the difference is the first step toward building a winning portfolio.
Quick fact
Trading is taking a position on financial market underlyings through instruments like CFDs without having to own them; whereas, investing is taking outright ownership of financial assets.
Read all about CFD trading vs investing.
Company
|
Latest share price*
|
Year-to-date (YTD) share price return*
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Available for CFD trading with IG?
|
Available for investing with IG Markets Singapore app?
|
|
S$2.55
|
+14.9%
|
✔
|
✔
|
|
S$0.98
|
+16.1%
|
✔
|
✔
|
Parkway Life Real Estate Investment Trust (REIT)
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S$3.96
|
+5.3%
|
✔
|
✔
|
| Thomson Medical Group | S$0.06 | +16.0% | ✔ | ✔ |
| First REIT | S$0.27 | +3.9% | ✔ | ✔ |
*As of November 2025
1. IHH Healthcare Berhad (Stock symbol: SGX: Q0F)
What it does: IHH Healthcare is Asia’s largest private healthcare group, operating over 80 hospitals across Singapore, Malaysia, India, Turkey, and beyond. Flagship Singapore brands include Gleneagles and Mount Elizabeth.
Latest earnings (Q2 FY2025):
- Revenue: S$1.97 billion (+3% YoY)
- Net profit: S$177.3 million (-24% YoY)
- Cash and cash equivalents: S$465.46 million (30 June 2025)
Trading data (November 2025):
- Three-month average price: S$2.52
- Three-month average daily volume: ~3.1 million shares
- Volatility: Low to moderate (±1.2% daily average)
- Liquidity: High
Stock outlook: IHH Healthcare has a consensus rating of ‘moderate buy’ alongside a target of S$2.66, according to the latest SGX StockFacts data as of 18 November 2025. DBS analysts rated IHH shares a ‘buy’ as its ‘diversified footprint and strong growth prospects underpin earnings resilience’.
2. Raffles Medical Group (Stock symbol: SGX: BSL)
What it does: Raffles Medical Group runs Raffles Hospital and a network of clinics across Singapore, China, Cambodia, and Vietnam.
Latest earnings (1H 2025):
- Revenue: S$378.4 million (+3.5% YoY)
- Net profit: S$32.1 million (+4.8% YoY)
- Cash and cash equivalents: S$334.2 million (30 June 2025)
Trading data (November 2025):
- Three-month average price: S$0.98
- Three-month average daily volume: ~2.2 million shares
- Volatility: Moderate (±1.8% daily average)
- Liquidity: Moderate
Stock outlook: Analyst data provided by SGX StockFacts show a consensus rating of just above ‘outperform’ on Raffles Medical as of 18 November 2025. The stock also has an average target price of S$1.18, indicating an upside of 20.4% from its latest share price of $0.98.
3. Parkway Life REIT (Stock symbol: SGX: C2PU)
What it does: Parkway Life REIT owns healthcare properties across Singapore, Japan, and Malaysia, including assets leased to IHH Healthcare.
Latest earnings (H1 FY2025):
- Revenue: S$78.3 million (+8.1% YoY)
- Net property income: S$73.8 million (+8.0% YoY)
- Cash and cash equivalents: S$49.04 million (30 June 2025)
Trading data (November 2025):
- Three-month average price: S$3.95
- Three-month average daily volume: ~500,000 units
- Volatility: Low (±0.6% daily average)
- Liquidity: Moderate
Stock outlook: Analysts from Maybank rated Parkway Life REIT a ‘buy’ alongside a higher price target of S$4.70 on 6 November 2025. They cited the REIT’s ‘good track record, visible distribution per unit growth and attractive sub-sector thematic’ as positive factors.
4. Thomson Medical Group (Stock symbol: SGX: A50)
What it does: Thomson Medical Group focuses on women’s health, fertility, and maternity care, with operations in Singapore, Malaysia, and China.
Latest earnings (H2 2025):
- Revenue: S$195.6 million (+6.9% YoY)
- Net loss: S$34.7 million (-186.8% YoY)
- Cash and cash equivalents: S$37.9 million (30 June 2025)
Trading data (November 2025):
- Three-month average price: S$0.06
- Three-month average daily volume: ~12 million shares
- Volatility: High (±3.0% daily average)
- Liquidity: High
Stock outlook: While not widely covered by institutional analysts, Thomson Medical has been flagged by some retail-focused platforms like ShareInvestor as a possible speculative growth play. Marketscreener showed a consensus rating of ‘moderate buy’ and an average target price of S$0.06 as of 18 November 2025.
5. First REIT (Stock symbol: SGX: AW9U)
What it does: First REIT owns hospitals and nursing homes in Singapore, Indonesia, and Japan, with tenants like Siloam Hospitals.
Latest financials (9M FY2025):
- Distributable income: S$34.8 million (-6.1% YoY)
- Distribution per unit: 1.65 Singapore cents (-7.3% YoY)
- Total debt: S$463.6 million (30 September 2025)
Trading data (November 2025):
- Three-month average price: S$0.265
- Three-month average daily volume: ~1.8 million units
- Volatility: Low to moderate (±1.1% daily average)
- Liquidity: Moderate
Stock outlook: DBS analysts rated First REIT as a ‘hold’ alongside a lower price target of S$0.28 (down from S$0.29) on 4 November 2025. The stock has a consensus rating just below ‘buy’ and an average price target of S$0.295, based on the latest data published by Beansprout.
How to trade and invest in healthcare stocks with IG Singapore
CFD share trading
- Create a live or demo account
- Find an opportunity among one of our 10,000+ stocks with our stock screener
- Click ‘buy’ to go long or ‘sell’ to short
- Set your position size
- Take steps to manage your risk
- Open and monitor your position
Investing
- Open an account via IG Markets Singapore app
- Search for Singapore healthcare stocks on the app
- Choose the shares you want to buy
- Determine how many shares you want to purchase
- Place your order
- Monitor your investment and collect any dividends
Singapore healthcare stocks FAQs
Can I trade Singapore healthcare stocks from Singapore?
Yes. You can trade top Singapore healthcare CFD stocks such as IHH Healthcare, Raffles Medical Group, Parkway Life REIT, Thomson Medical Group, and First REIT through SGX-approved brokers like IG Singapore. These platforms offer real-time access to healthcare counters with competitive commissions and advanced trading tools.
For investing, use the IG Markets app.
Can I invest in Singapore healthcare stocks for the long term?
Absolutely. Many healthcare stocks in Singapore, including Parkway Life REIT and IHH Healthcare, are considered defensive plays due to their stable earnings, long-term lease structures, and exposure to growing healthcare demand. As of November 2025, several of these companies have reported resilient earnings, supported by aging demographics and regional expansion.
What are the risks of investing in Singapore healthcare stocks?
Risks include regulatory changes in healthcare policy, currency fluctuations (especially for companies with overseas exposure), and operational risks such as rising costs or changes in patient volumes. For REITs, interest rate movements and lease renewals can also impact distributions and valuations.
Are dividends from Singapore healthcare stocks taxable?
No. Dividends paid by SGX-listed healthcare companies and REITs are not taxable for individual investors. Under Singapore’s one-tier corporate tax system, dividends are distributed from post-tax profits and are exempt from further taxation for both local and foreign individuals.
When is the best time to trade Singapore healthcare stocks?
The most active trading occurs during SGX market hours (9:00 AM to 5:00 PM SGT). Volatility often increases around quarterly earnings releases, regulatory announcements, and macroeconomic events affecting healthcare demand or interest rates.
Are Singapore healthcare stocks suitable for beginner investors?
Yes. Large-cap healthcare stocks and REITs like IHH Healthcare and Parkway Life REIT offer transparency, consistent dividends, and lower volatility, making them ideal for beginners. Investors can consider dollar-cost averaging and diversification to manage risk effectively.
Footnotes:
Important to know
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