Demand for Radiography Devices: General radiography devices and aids are in high demand in the Philippines. High incident rates of lung diseases, heart diseases, kidney diseases, hypertension, and other respiratory diseases prompt hospitals to make enhancements for medical equipment, thus, increasing the demand for general radiography devices such as linear accelerators, electro-cardiographs, ultrasonic scanning machines (ultrasound), magnetic resonance imaging, x-ray and radiation equipment, breathing appliances, electrocardiogram equipment, dialysis machines, and computed tomography apparatuses.
Growth in Demand for Cancer Therapy Equipments: There are around 24 hospitals under the Department of Health (DoH) that will be upgraded and turn into regional centers for cancer as mandated by the National Integrated Cancer Control Act (NICCA), according to Dr. Beverly Lorraine C. Ho, director for the Disease Prevention and Control Bureau of DoH (as of July 2021). The new centers are expected to have linear accelerators, treatment planning systems, computerized tomography stimulators and brachytherapy units. The strategy to establish new centers provides entry opportunities for other companies with the technological solutions for cancer treatment.
Growth in Telemedicine Industry of Philippines: There has been a significant expansion in the telemedicine industry of the Philippines. National Telehealth Center, led by University of the Philippines Manila and National Institutes of Health, has played a crucial role by bringing in modern technological solutions to the rural and urban areas of the country. The National Telehealth Service Program of the Telehealth Center involves physicians available in rural or remote areas to connect to tertiary hospitals of the metro cities via emails and calls for the purpose of tele-consulting. Moreover, Covid-19 has further led to rapid surge in the usage of application of Telemedicine.
Demand for Refurbished and Used Medical Devices: There is a growing demand for refurbished medical equipment in the Philippines. While public and government-owned hospitals tend to purchase only new equipment, the private sector is divided between the market segments of new and refurbished medical equipment. Private hospitals and clinics outside metropolitan Manila often tend to purchase used and refurbished equipment, such as x-rays, cardiology and surgery devices, given their limited budgets. To date, approximately 55% of all medical equipment supplied to hospitals and clinics are refurbished (Source: Interviews with Principal and Distributor for Medical Devices). With the growing demand for extensive healthcare coverage outside the main urban centers, Philippines provide opportunities to tap into this emerging market segment.
Analysts at Ken Research in their latest publication “Philippines Medical Devices Outlook to 2025 (Second Edition)- Rising Cases of Chronic Diseases and Expected Growth in Demand for Cancer Therapy and Dialysis Equipment” believe that the medical devices market in Philippines is projected to grow owing to factors such as increase in equipments demand for devices and centers for cancer in the country, increase in hospitals and clinics, increase in the number of deaths and increase in medical tourism. The market is expected to register a positive CAGR of 11% in terms of revenue during the forecast period 2018-2023E.
Key Segments Covered:-
By Mode of Sales
Direct Sales
Distributor Mediated
By Type of Medical Devices
Medical Consumables
Diagnostic Imaging Products
Dialysis Machine
Cardiac Device
Respiratory Products
Hospital Furniture
Auxiliary Devices
Dental and Orthopedic Products
Ophthalmic Devices
Others
By Diagnostics Devices
Diagnostics Equipment
Diagnostics Consumables
By Diagnostics Equipment
X-Ray
CT Scan
Ultrasound
Electrographic Apparatus
MRI
Others
By Dialysis Devices
Dialysis Equipment
Dialysis Consumables
By Cancer Therapy Equipment
Cancer Therapy Equipment
Cancer Therapy Consumables
By End Users
Hospitals
Clinics and Diagnostic Lab Centers
Others (Home Healthcare, Telemedicine Centers)
By Region
Luzon
Visayas
Mindanao
Key Target Audience:-
Hospitals
Medical Device Manufacturers
Healthcare Research Firms
Healthcare Associations
Government Bodies
Distributors
Medical Device Technology Suppliers
Time Period Captured in the Report:-
Historical Period: 2015-2020
Forecast Period: 2021-2025
Manufacturers Covered:-
GE Healthcare
Fresenius Philippines
Siemens Healthcare
Philips Healthcare
Medtronic
BD Healthcare
Terumo Healthcare
B Braun Philippines
Distributors Covered:-
Zuellig Pharma
Zafire
Medilines
Metro Drugs Inc.
Health Solution Enterprises
Berovan Marketing Inc.
Patient Care Corporation
RBGM Medical Express Sales Inc.
Saviour MedDevices Incorporated
Transmedic Group
RG Meditron Inc.
Carestream
Philippine Medical System
Aljeron Medical Enterprise
Progressive Medical Corporation
Fernando Medical Enterprise
Medical One
IDS Medical System
Key Segments:-
Comprehensive analysis of Medical Device Market in Philippines
Listed major Manufacturers and Distributers
Detailed Landscape on Diagnostic Medical Devices Market
Detailed Landscape on Dialysis Medical Devices Market
Detailed Landscape on Cancer and radiation Therapy
Future Projections by Revenue
COVID Impact
Value Chain Analysis
Government Regulations Supporting the Market
Trends and Challenges
For More Information, refer to below link:
Philippines Medical Device Market
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249
