Private hospitals in Philippines have contributed the highest share towards the demand for Medical Devices in the country: Ken Research

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

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