Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

Philippines Medical Devices Market Driven by Growing Number of Hospitals and Clinics and Surge in Demand for Refurbished/Used Equipments: Ken Research

Medical Device Market
Buy Now

“Increase in the number of geriatric population coupled with rising demand for modern and sophisticated medical equipments has driven the medical devices market in Philippines.”

Surge in Demand for Refurbished/Used Medical Equipment: 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. With the growing demand for extensive healthcare coverage outside the main urban centers, Philippines provide opportunities to tap into this emerging market segment

Increase in Medical Tourism: The Philippines is becoming increasingly popular as a medical tourist destination for foreign nationals. The country has been observed to cater 80,000 to 250,000 patients annually, with clients primarily coming from regions such as East Asia, Sri Lanka, Pacific Islands, Australia, North and South America, Europe, and the UK, and the Middle East. In addition to this, the Department of Health of the government along with Department of Tourism of the Philippines initiated the Philippine Medical Tourism Program in 2006 which has attracted foreign patients for procuring medical services.

Demand for Radiography Devices: The country observes high incidence of lung diseases, heart diseases, kidney diseases, hypertension and other respiratory challenges prompt hospitals to make enhancements for medical equipments. Thus, an increasing 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 has been observed in the country.

Constant Change in Price of the Medical Devices: Medical Devices have to undergo continuous research and development. They have a much shorter product life-cycle in comparison with pharmaceutical products. This is especially true for electronic medical devices, where the product life-cycle is presently around 1 to 3 years. A major drawback of the continuous development for medical devices is that the older technologies appear to be more cost-effective as the prices of older technologies drop considerably once the new technology is introduced. Thus, there are significant methodological difficulties while conducting the economic evaluations for medical devices.

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” published by Ken Research suggests that the medical devices market of Philippines has been growing owing to key contributing factors such as ageing population, rise in number of hospitals and clinics, growing medical tourism and increasing government expenditure on the health sector of the country. The market registered a positive CAGR of 10.8% on the basis of revenue during the review period 2013-2018.

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

Philippines Medical Device Market Research Report

Philippines Medical Device Industry Research Report

Health Solution Enterprises Philippines

Saviour MedDevices Incorporated Philippines

Philippines Medical Device Industry

Medical Device Companies Philippines

Medical Device Philippines

Companies Medical Devices Philippines

Auxiliary Devices Philippines Sales

For more information, refer to below link:

Philippines Medical Devices Market

Related Reports

Singapore Medical Devices Market Outlook to 2022 – by Type of Medical Device (Consumables, Diagnostic Imaging, Patient Aids, Orthopedic & Prosthetics, Dental Products and Others)

Kuwait Medical Device Market Outlook to 2022 – By Type (Diagnostic Imaging Products, Medical Disposables, Auxiliary Devices, Orthopedic Devices, Dental Products, Aesthetic Devices, Diabetic Products and Others)

Indonesia Medical Devices Market Outlook to 2022 – By Medical Consumable Products, Diagnostic Imaging Products, Auxiliary Devices, Orthopedic Implants, Dental Products, Aesthetic Devices, By Imports & Domestic Production

Contact Us:

Ken Research

Ankur Gupta, Head Marketing & Communications

[email protected]

+91-9015378249

The post Philippines Medical Devices Market Driven by Growing Number of Hospitals and Clinics and Surge in Demand for Refurbished/Used Equipments: Ken Research appeared first on Ken Research.



This post first appeared on Ken Research: Market Research Reports, Market Rese, please read the originial post: here

Share the post

Philippines Medical Devices Market Driven by Growing Number of Hospitals and Clinics and Surge in Demand for Refurbished/Used Equipments: Ken Research

×

Subscribe to Ken Research: Market Research Reports, Market Rese

Get updates delivered right to your inbox!

Thank you for your subscription

×