This report provides an overview of the medical technologies sector in the Philippines, which is one of the fastest growing economies in South East Asia. The Philippine Health Insurance Corp’s (PhilHealth) mandate to increase its coverage from 92% to 100% of the population is expected to drive demand for quality healthcare that is affordable and accessible. In anticipation of the surge in demand for healthcare services, the Philippines has launched an ambitious program to develop and upgrade its healthcare facilities to ensure equitable access to healthcare across the country.
For 2018, the Department of Health has secured a healthcare budget of PHP 103.6 billion (USD 2.1 billion) in which PHP 29 billion (USD 583.8 million) will be allotted for the enhancement of health facilities and PHP 6.8 billion (USD 136.9 million) will be allotted to purchase hospital equipment. The proposed health facilities enhancement program budget will be used to build 1,497 barangay health stations and improve 353 hospitals, which will fuel growth in the medical technologies sector. As the Philippines is almost fully reliant on imports of medical devices, abundant opportunities are available for medical device companies to meet the country’s growing demand. A confluence of factors, from a growing medical tourism sector, a burgeoning hospital sector and increased patient affluence, has made the Philippines an attractive prospect for medical device companies.
The report starts with a short profile of the Philippines, then goes on to provide a descriptive analysis of the country’s healthcare sector, from the healthcare trends shaping the market, to the healthcare infrastructure, as well as the role played by its government. Next to this more general introduction, the key characteristics of the medical technologies sector are presented, with a special focus on assistive technologies and ICT. One of the key sections of the report is a profile of key buyers in the country, namely hospitals, pharmacy chains and testing laboratories. We hope the report offers you a fresh perspective on the current landscape influencing the medical technologies sector in Thailand, and the range of opportunities it offers.
The report is designed to provide comprehensive and well-structured information to help a company understand the opportunities in the market, and offers a wide range of data and information collected from various sources that were built together in order to give a deeper insight into the industry.
Orissa International regularly undertakes market research projects in various sectors in South East Asia, for trade promotion agencies and individual companies. With more than 20 years’ experience of helping companies with their market entry into South East Asia, our in-country research teams have acquired extensive and practical hands-on specialist industry knowledge.
Research in each country is undertaken by an in-market analyst. Our physical presence in the market gives us an ability to engage directly with local industry contacts, keep track of commercial opportunities in the market, and monitor the latest market trends and industry events that impact the market.
We undertake desk research to gather as much secondary data and information from a variety of credible sources. These include our proprietary distributor databases, specialist trade press, business and mainstream press, industry news and events, market studies, financial reports, trade associations, as well as company profiles, publications, and annual reports. Orissa International applies various processes and a series of quality checks to validate data and information to ensure the quality, completeness and accuracy of our reports.
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