Philippines Ophthalmology Market Surging Owing to Growing Old Age Population and Growing Exposure to Electronic Devices: Ken Research

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“Philippines Ophthalmology Market will be majorly driven by increasing penetration of insurance, rise in the number of ophthalmologists, increase in diabetes patients and increase in air pollution in Philippines.”

Ophthalmology market has witnessed positive growth in number of consultations, number of surgeries, revenue from consultation and revenue from surgeries in the past five years due to increasing old age population, increasing exposure to electronic devices, increasing diabetic population and increasing air pollution. Many NGOs have taken up the responsibility of spreading awareness about eye health. Eyes Mo, Care Mo celebrated Philippines’s first ever National Eye Care Awareness Month that was dedicated to spread awareness about causes and ways to fight eye related issues.

Major constraints faced by the ophthalmology market have been high operational cost, difficulty in ease of doing business, complicated government policies and shortage of ophthalmologist. Philippines Ophthalmology Market is growing at promising rate currently placed in growth stage. Government’s National Health Insurance program’s coverage increased from 75% in 2012 to 93% in 2018 and is expected to increase at a faster rate in future. The revenue generated from eye surgeries & eye care consultations in the review period increased registering a CAGR of close to 10% and 8% respectively during last 5 years. Hospitals and clinics use the modern equipment’s and technologies so as to keep up with the international standards. The medical equipment device market is import driven; equipment’s are imported from Japan, China and Korea. By using the modern technology eye clinics and hospitals have managed to keep 90% of their patients as day care patients. Awareness about eye health is spread by various campaigns organized by the government and the NGOs. In 2014, Philippines celebrated its first ever National Eye Care Awareness Month through Eyes Mo, Care Mo, in this campaign awareness about causes and ways to fight the 5 signs of EYEritation—Sore Eyes, Itchy Eyes, Red Eyes, Watery Eyes and Dry Eyes was generated among the Filipinos. Apart from this all the major hospitals and clinics spread awareness about eye care through their websites, newspaper advertisements and magazine articles.

Philippines Ophthalmology Market

Major players of the Ophthalmology industry in Philippines majorly operate in NCR and Calabarzon region. Majority of the urban and wealthy population resides in these regions. This set of audience usually prefers a healthy lifestyle and has enough resources to spend on eye care. The disposable income in Philippines has been increasing with CAGR of 8.4% in the last five year, which increases the affordability of eye care and it also means that more individuals are able to afford education which increases the level of awareness among the population. With increasing disposable income individuals are also able to afford private health insurance.

Analysts at Ken Research in their latest publication “Philippines Ophthalmology (Eye Centers, Clinics and Hospital Chains) Market Outlook to 2023 – Investment Potential by Region and by Ailment Type (Cataract Surgery, Glaucoma Surgery, Refractive Error Surgery, Other Retina Related Surgeries and Others), Lasik & Aesthetics Centers” believed that the Philippines Ophthalmology Market will grow due to the increasing ageing population in the country, surge in the exposure to electronic devices coupled with lack of ophthalmologists and ophthalmology centers in the country. The market is expected to register a positive CAGR of close to 6% in terms of eye consultations during the forecast period 2018-2023E.

Key Segments Covered

By Types of Ailments (On the basis of Surgery Fee, Surgery Revenue and Number of Surgeries)

Cataract

Refractive Error

Glaucoma

Retina Related Diseases

Others

By Regions (On the basis of Average Consultation Fee, Number of Single Specialty Eye Clinics/Hospitals and Consultation Revenue)

National Capital Region (NCR)

Calabarzon

Ilocos Region

Central Visayas

Davao Region

MIMAROPA

Central Luzon

Cagayan Valley

Western Visayas

Zamboanga Peninsula

Northern Mindanao

Bicol Region

Caraga Region

SOCCSKSARGEN

Cordillera Administrative Region

Eastern Visayas

Autonomous Region in Muslim Mindanao

Key Target Audience

Single Specialty Hospitals

Multi-Specialty Hospitals

Eye Clinics

Ophthalmologist

Medical Devices Companies

Government Organizations

Non- Profit Organizations

Non- Governmental Organizations

Time Period Captured in the Report:

Financial Year 2013-2018 – Historical Period

Financial Year 2019 Onwards – Future Forecast

Companies Covered:

Galileo Eye center

Asian Eye Institute

The American Eye centre

Clinica Tamesis Eye Center

Perfect Sight

Roque eye clinic

Manila Retina Specialist

Larrazabal Eye

Novagen Eye Center

Peregrine Eye and Laser Institute

Shinagawa Lasik and Aesthetics

Key Topics Covered in the Report

Philippines Ophthalmology Market Ecosystem

Philippines Ophthalmology Market Revenue Streams

Philippines Ophthalmology Market Size on the Basis of Number of Consultations, Number of Surgeries, Consultation Revenue and Surgery Revenue, FY’2013 – FY’2018

Philippines Ophthalmology Market Segmentation by Region (National Capital Region (NCR), Calabarzon, Ilocos Region, Central Visayas, Davao Region, MIMAROPA, Central Luzon, Cagayan Valley, Western Visayas, Zamboanga Peninsula, Northern Mindanao, Bicol Region, Caraga Region, SOCCSKSARGEN, Cordillera Administrative Region, Eastern Visayas, Autonomous Region in Muslim Mindanao)

Philippines Ophthalmology Market Segmentation by Ailment Type (Cataract surgery, Glaucoma surgery, Refractive error surgery, other retina related surgeries and others)

Regulations in Philippines Ophthalmology Market

Competitive Scenario of Philippines Ophthalmology Market

Success Case Studies (Dr Agarwal’s Eye Hospital, Aravind Eye Care, Centre For Sight and AIER Eye Hospital Group)

Market Share of Major Players in Philippines Ophthalmology Market

Company Profile of Major Players in Philippines Ophthalmology Market

Future Outlook and Projections in Philippines Ophthalmology Market (FY’2019 – FY’2023)

Analyst Recommendations

For More Information click on the below mentioned link:

https://www.kenresearch.com/healthcare/general-healthcare/philippines-ophthalmology-market-outlook/238841-91.html

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Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

Ankur@kenresearch.com

+91-9015378249

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