Shortfall in Medical Facility: The Philippines experienced a major shortage of medical workers. Each Filipino has to wait for several hours to connect to a medical professional. It was also seen that the minimum time to reach a nearby healthcare facility was around 39 minutes. Another major problem associated with healthcare accessibility is the Philippines archipelago geography. All the medical facilities are concentrated in or around the capital city. Most of these issues can be addressed by the adaptation of technological tools in the healthcare sector. With an increase in the healthcare expenditure of the hospitals and clinics, the emergence of innovative healthcare IT solutions will be one of the major health tech markets in the coming years. This will also ensure a high increase in revenues in the industry.
Impact of Covid-19: Lockdown imposed during Covid pandemic has been a major growth driver of the health tech market. Covid-19 brought a moment of realization for the government, as it has highlighted all the existing gaps in the healthcare industry’s infrastructure. There has been a significant increase in the end-users for nearly all the sectors of the health tech industry that eventually resulted in the increase in the number of players in the market.
Rising Competition: All the sectors saw a rise in the number of players in the year 2020. The online consultation market saw the maximum number of entrants that includes both domestic and international players. Existing players diversified their portfolios and new players entered with different operating models. The market is expected to see tough competition in the coming years and players will be competing on the basis of the price, value-added services, and new technological advancements.
Collaborative Approach: As the healthcare market is flourishing in the Philippines, the health tech service providers are focusing more on collaborative approaches to expand their reach. Most players are focusing on introducing end-to-end solutions for the target end-users. Digital health solutions, such as e-pharmacies and online consultations are connecting to a common platform by keeping certain profit margins. Integration of various health tech sectors, all in one place has become a new trend in this market.
The report titled “Philippines Health Tech Market Outlook to 2025 – By Service Type (E-Pharmacy, Online Consultation and Healthcare IT Solutions) and By Region (Manila, Central Luzon, Mindanao/Davao, and Others)” by Ken Research suggested that the health tech market is expected to grow at a double-digit positive CAGR. Technological advancements and the availability of various services on these platforms is driving the health tech market in the Philippines. The health tech sales revenue in the Philippines is expected to grow over the next few years owing to the introduction of new domestic as well as international players in the country and an increase in product awareness amongst the rising population.
Key Segments Covered: –
E-Pharmacy Market Size, 2017-2025F
Online Consultation Market Size, 2017-2025F
Healthcare IT Solutions Market, 2017-2025F
Order Split (Prescribed, OTC and Others)
Order Platform (Mobile and Web)
Cities/Region (Manila, Region III-IV, Mindanao/ Davao and others)
Online Consultation Market
Mode of Consultation (Chat, Audio, Video)
Type of Doctor (General and Specialized)
Cities/Region (Manila, Region III-IV, Mindanao/ Davao and Others)
Healthcare IT Solutions Market
Products (HMS, CMS, PMS/PIS, EMR)
Cities/Region (Manila, Central Luzon, Mindanao/Davao others)
Key Target Audience
Government and Regulatory Bodies
Health Tech Companies
Health Tech Industry Consultants
Time Period Captured in the Report:
Historical Period: 2017-2020P
Forecast Period: 2020P–2025F
My Pocket Doctor
Healthcare IT Solutions
Key Topics Covered in the Report: –
Philippines Health Tech Market Introduction
Philippines Health Tech Market Size, 2017-2020P
Philippines Health Tech Market Segmentation, 2017-2020P (By GMV and on the basis of the type of product – E-Pharmacy, Online Consultation, and Healthcare IT Solutions)
Detailed Analysis on Philippines E-Pharmacy Market (By GMV – By Order Split on the basis of Prescribed drugs, OTC drugs, medical devices, and other products, By city – Manila, Region III-IV, Mindanao/ Davao and Others, By Order platform – Mobile application and web browser, By No. of Orders – By Order Split on the basis of Prescribed drugs, OTC drugs, medical devices, and other products, By city – Manila, Region III-IV, Mindanao/ Davao and Others, By Order platform – Mobile application and web browser)
Detailed Analysis on Philippines Online Consultation Market (By No. of Consultations: By Mode of Consultation – Chat, Video and Audio, By Type of Doctor – General Practitioners and Specialized Doctor, By City/Region – Manila, Region III-IV, Mindanao/ Davao and Others, By GMV – By Mode of Consultation – Chat, Video, and Audio, By Type of Doctor – General practitioner and Specialized Doctor, By City – Manila, Region III-IV, Mindanao/ Davao and Others)
Detailed Analysis on Philippines Healthcare IT Solutions Market (By Revenue –By Product Type – Software and IT Services)
Trends and Developments in Philippines Health Tech Market (Future Projections on
Regulatory Landscape in Philippines Health Tech Market
Target End Users (target End users for the E-Pharmacy segment, online consultation segment and healthcare IT solutions segment)
Competitive Landscape in Philippines Health Tech Market
International Success Case Study for Philippines Health Tech Market
Philippines Health Tech Market Future Outlook and Projections, 2020P-2025F (By GMV and on the basis of type of product – E-Pharmacy, Online Consultation and Healthcare IT
For More Information on the Research Report, Click on the below link: –
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Indonesia Health Tech Market Outlook to 2025 ( BY GMV – By Order Split on the basis of Prescribed drugs, OTC drugs, Medical devices and other products, By city – Jakarta, Bandung, Surabaya and Others, By Order platform – Mobile application and web browser, By No. of Orders – By Order Split on the basis of Prescribed drugs, OTC drugs, Medical devices and other products, By city – Jakarta, Bandung, Surabaya and Others, By Order platform – Mobile application and web browser)
Philippines Retail Pharmacy Market By Market Structure, (Organized and Unorganized Market) , By Type of Store Location (Standalone and Hospital Based Pharmacies) By Region (North, Central and South), By Type of Sales (Prescribed Medicines, OTC Products, Non-Pharmaceutical Products and Medical Equipment) By Type of Drug (Generic and Patented Drug) and by Therapeutic Class.
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Ankur Gupta, Head Marketing & Communications