The doctor is in: Singapore healthcare firms poised for growth next year

But watch out for these key risks.

"Looking ahead, positive fundamentals which are structural and entrenched in nature will continue to drive growth in 2014," said OCBC Investment Research analyst Wong Teck Ching Andy in its growth outlook for the Singapore healthcare sector.

The positive outlook came as healthcare companies such as Raffles Medical Group, IHH Healthcare Berhad and Riverstone managed to show resilience and robust financial performance despite continued macroeconomic uncertainties in 2013, suggesting their sterling defensive qualities.

"However, key risks would stem from intensifying competition and continued depreciation of emerging market currencies (especially the IDR)," warned the OCBC analyst.

"We are also cautious on medical device and pharmaceutical companies with significant exposure to the Chinese market due to ongoing regulatory price controls."