Philippines Healthcare Industry to Flourish with Government Initiatives-Ken Research

According to Health Care Industry Analysis, Philippines healthcare sector is witnessing growth and adjustment as the government is aiming to provide universal healthcare in the public and the private health sectors. Most of the pharmaceutical companies are also modifying their systems according to the governmental, regulatory and public awareness. Filipinos’ healthcare has witnessed a dramatic improvement over the years in many categories such as infant mortality, communicable diseases falling and life expectancy cases. Maternal mortality is still at a high rate due to incidents such as tuberculosis. Earlier tuberculosis cases were high and there was a threat of multiple-drug-resistant. Philippines healthcare sector along with the government has focused on maternal, neonatal, child health programs and tuberculosis. Over the past 50 years, incidents of non-communicable diseases (NCDs) have steadily increased and rate of communicable diseases has fallen. All the prevailing communicable diseases in Philippines accounts for the causes of morbidity, while non-communicable diseases are leading causes of mortality.

Philippines has very limited medical resources and is focusing on improving to provide universal healthcare, poverty reduction and sustainable medical education over the next few years. Philippines possesses a dominant and large private healthcare sector compared to the public healthcare sector. Despite the governments’ effort to reform the healthcare regulations, financial conditions and inequalities in the country, the healthcare sector is highly fragmented and less quality services. The government has provided access to quality medicines because it is a fundamental human right to health and has established five foundations for the use and manufacture of pharmaceuticals in the Philippines. These medicines are safety, efficacy and quality; affordable and available; used as rational drug; accountability and good governance; and supports healthcare systems.

An ageing population, urbanisation, and increase in middle class have led to an increasing demand for quality healthcare services. There is a huge gap in the Philippines' healthcare delivery system and abundant opportunities are available for domestic and international players to invest in the country’s healthcare sector. Philippines government has implemented a policy to protect public health by supplying affordable quality drugs and medicines to the population. This has encouraged the market for generic pharmaceuticals and consumers have a choice of drugs to purchase. Majority of the consumers are opting for generic medicines because they save much money. Philippines healthcare sector comprises of a huge number of healthcare workers such as medical professionals, nurses, midwives and medical technologists. Majority of the healthcare workers are concentrated in the urban areas compared to the rural areas.

Quality healthcare is an issue at public healthcare facilities across Philippines. Health Care Industry Research and Market Reports provides solution of Financial funding, infrastructure, facilities, technology, patient safety, support services, and public facilities often struggle to meet the patients demands compare to the other countries. To overcome these issues almost all the public healthcare centres are partnered with the private healthcare centres to improve the medical facilities and conditions in the public health facilities. Public-private partnerships (PPPs) encourage healthcare developments in terms of technology transfer, training, funding and optimising operational efficiencies. Medical tourism in Philippines is still under-marketed and undeveloped. The country is undeveloped in many sectors such as transport, poor air connections, costly airfares and poor transport infrastructure which reflect on Philippines health tourism market.

Universal health insurance coverage is provided for almost 80% of the citizens in Philippines. It is single-payer insurance, premium-based and has a universal coverage. Universal medical insurance coverage needs more attention and government coordination. To promote medical tourism, the department of health in Philippines needs to be more dedicated towards the healthcare system within the country. Philippines population are witnessing a huge financial burden on healthcare. With the coordination of government and foreign investment, the healthcare sector can build on its strengths to provide the best healthcare in South-East Asia.

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Related Report:

https://www.kenresearch.com/healthcare/general-healthcare/philippines-hospitals-market-report/105284-91.html

 

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