The report titled “Philippines
Medical Devices Market Outlook to 2023 - Surge in Demand for Used/Refurbished
Medical Equipments and New Healthcare Infrastructure Projects to Maintain Healthy
Growth” provides a comprehensive analysis on the medical devices market
in Philippines. The report covers a brief introduction of the medical devices
market in the country, value chain analysis of the market, the overall size of
the market in terms of revenue; market segmentation on the basis of business
activity, mode of sales, type of medical devices, end users and regions;
decision making process and pain points encountered by end users in the
industry, trends and developments, issues and challenges, porter’s forces
analysis, regulatory environment of the industry; competitive landscape
including competition stage, competition parameters and company profiles of
major players. The report concludes with market projections and analyst
recommendations highlighting the major opportunities and cautions for existing
players and new entrants in the industry.
Philippines
Medical Devices Market Overview and Genesis:
Philippines Medical Device market is at the growing stage. Philippines Medical
Device market in terms of revenue has increased at a positive CAGR during the
period 2013-2018. Philippines heavily rely on imports for medical devices and
local production is limited to prototype units and disposables such as surgical
gloves, syringes, and needles. The market is price-sensitive and major factors
impacting demand are population growth, increase in geriatric population,
steady economic growth at 6.7% (2017), and hospital expansion and up-gradation.
Philippines
Medical Device Market Segmentation:
By Procurement: Imports have accounted
for major revenue share in Philippines Medical Device Market in 2018. The imports
are largely related to more sophisticated medical and surgical instruments and
infrastructure. Local production is limited to prototype units and disposables
such as surgical gloves, syringes, and needles.
By
Type of Medical Device: Medical
Consumables have accounted for the largest revenue share in Philippines Medical
Devices market in 2018 followed by Diagnostic Imaging product, Dialysis
Machine, Cardiac Devices and Respiratory Products. Hospital Furniture,
Auxiliary devices, Dental and Orthopedic Products and Ophthalmic Devices have
accounted for the least share in the overall market revenue. Medical consumable
products include Syringes, Needles, Catheters, Bandages, Dressing, Suturing
Materials and Ostomy products and other consumables. Diagnostic imaging
products is increasing due to the increase in the number of hospitals
specializing in cancer, cardiology and the increase of non-communicable
diseases who demand specialized medical devices in order to provide better
quality services. The number of specialized hospitals and clinics increased
from 1,829 in 2013 to 1,840 in 2018.
By
Type of Medical Consumables:
Syringes, Needles and Catheters have accounted for the major share of in the
Philippines medical consumables market in 2018. Bandages and dressings have
accounted for the second largest share followed by suturing materials and
ostomy products.
By
Type of Diagnostic Imaging Product:
X-ray Based Products have accounted for the major share followed by
Ultrasounds, CT scan and MRI. Electrodiagnostic apparatus and ECG have
accounted for least share in the Diagnostic Imaging Product Market in 2018.
Medical imaging encompasses different imaging modalities and processes to image
the human body for diagnostic and treatment purposes and therefore plays an important
role in initiatives to improve public health for all population groups.
Furthermore, medical imaging is frequently justified in the follow-up of a
disease already diagnosed and/or treated.
By
Type of Cardiac Device: Angioplasty
Device have accounted for the major share of in the Philippines medical
consumables market in 2018. CRM Devices such as Cardiac Rhythm Management: ICD,
Implants and Pacemaker have accounted for relatively lesser share in the
cardiac device market. Cardiac Surgery Devices such as Heart-Lung Machine and
Valves have the least contribution to the revenue share.
By
Type of Respiratory Product:
The demand for Therapeutic Appliances is higher than Diagnostic Devices and
Monitoring due to which Therapeutic Appliances have accounted for the major
share in the Philippines Respiratory Product market in 2018. Growth in sales
for this product is mainly attributed to the high prevalence of respiratory
diseases such as Chronic Obstructive Pulmonary disorder and sleep apnea.
By
Type of Auxiliary Product: Increase in
hearing loss, rapidly ageing global population and a subsequent increase in the
number of people suffering from organ failures represent the key factors
driving the artificial organs market and hearing aids devices in the country.
Increase in hearing loss is the main reason for the growth of hearing aids
devices in the country. The absolute number of people with hearing loss has
been steadily increasing during the last decade. In Philippines, the population
suffering from hearing loss has risen from 5.5 Million in 2008 to 7 Million in
2018
By
End Users: The demand for clinical laboratory
and diagnostics equipment has increased due to prevalence of diseases related
to circulatory problems, diabetes, infections, parasites, and respiratory
problems which drives the growth of Hospitals, Clinics and Diagnostic Lab
Centers across the country. Philippine government is focused on improving
healthcare access and affordability by expanding Universal Healthcare coverage
from 91% to 100% by 2020. This is further supported by increase in number of
hospitals. Number of hospitals increased from 1,829 in 2013 to 1,840 in 2018.
The majority of the hospitals are located in Metro Manila.
By
Regions: Metro Manila which includes Central
Luzon have accounted for the major share of revenue in the Philippines medical
device market in 2018. Elsewhere, many hospitals lack adequate equipment and,
therefore, spending in those areas is likely to focus on acquiring basic
medical equipment and devices. Almost two thirds of hospital beds are on the
island of Luzon, which includes the NCR. There are 23 hospital beds for 10,000
people in the NCR while the rest of Luzon, Visayas and Mindanao have only 8.2,
7.8 and 8.3 beds, respectively.
Competitive
Landscape: The Philippines medical device market
is highly fragmented. GE Healthcare is the market leader and has the highest
market share followed by companies such as Fresenius, Siemens and Philips.
Major distributors include Zuellig Pharma, Zafire, Metro Drugs Inc. and Health
Solution Enterprises. These market players compete on the basis of distribution
network, product portfolio, pricing, support services and marketing activities.
Future
Outlook of Philippines Medical Device Market:
Philippines Medical Device market in terms of revenue will increase at a
positive CAGR during the period. An aging population coupled with the increase
in morbidity and deaths in Filipinos will drive the growth of the medical
market. A shift towards more advanced medical equipment in the country, the
expansion of private healthcare providers, increased government spending on
healthcare and infrastructure development projects will additionally support
this high market growth.
Key
Segments Covered:
By
Type of Business Activity
Imports
Domestic Production
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
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: 2013-2018
Forecast
Period: 2019-2023E
Manufacturers
Covered:
GE Healthcare
Fresenius Philippines
Siemens Healthcare
Philips Healthcare
Medtronic
BD Healthcare
Terumo Healthcare
B Braun Philippines
Distributors
Covered:
Zuellig Pharma
Zafire
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
Key
Topics Covered in the Report
Philippines Medical Device Market
Introduction
Value Chain Analysis in Philippines
Medical Devices
Philippines Medical Device Market
Size, 2013-2018
Philippines Medical Device Market
Segmentation
Philippines Medical Device Market
Segmentation by Type of Business Activity (Imports and Domestic Production)
Philippines Medical Device Market
Segmentation by Mode of Sales (Direct Sales and Distributor Mediated)
Philippines Medical Device Market
Segmentation by Type of Medical Devices (Medical Consumables, Diagnostic
Imaging, Dialysis Machine, Cardiac Device, Respiratory Product, Hospital
Furniture, Auxiliary Devices, Dental and Orthopedic Products, Ophthalmic
Devices and Others)
Philippines Medical Device Market
Segmentation by Type of Medical Consumables (Syringes, Needles, Catheters,
Bandages, Dressings, Suturing materials, Ostomy Products and Others)
Philippines Medical Device Market
Segmentation by Type of Diagnostic Imaging Products (X-ray Based Products,
Ultrasound, CT Scan, MRI, Electrodiagnostic Apparatus, ECG and Others)
Philippines Medical Device Market
Segmentation by Type of Cardiac Device (Angioplasty Device, CRM Devices and
Cardiac Surgery Devices)
Philippines Medical Device Market
Segmentation by Type of Respiratory Product (Therapeutic Appliances, Diagnostic
Devices and Monitoring Devices)
Philippines Medical Device Market
Segmentation by Type of Auxiliary Product (Hearing Aids, Artificial Body Parts
and Others)
Philippines Medical Device Market
Segmentation by End Users (Hospitals, Clinics and Diagnostic Lab Centers and
Others)
Philippines Medical Device Market
Segmentation by Region (Luzon, Visayas and Mindanao)
Decision Making Process to Shortlist
Medical Device in Philippines
Pain Points Faced by Customers from
Buying Medical Devices in Philippines
Trends and Developments in Philippines
Medical Devices Market
Issues and Challenges in Philippines
Medical Device Market
Porters Five Forces Analysis in
Philippines Medical Device Market
Regulatory Environment for Philippines
Medical Devices Market
Competitive Landscape in Philippines
Medical Devices Market
Company Profiles of Major Players in
Philippines Medical Devices Market
Company Profiles of Major Local
Distributors in Philippines Medical Devices Market
Company Profiles of Local Players in Philippines
Medical Devices Market
Philippines Medical Devices Market
Future Outlook and Projections, 2019-2023
Analyst Recommendations in Philippines
Medical Device Market
For
more information, refer to below link:
Related
Reports
Contact
Us:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-9015378249