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Deep dive into the Healthcare System and Medical Device Market in Philippines – report incl. surgical procedures

  • January 2016
  • 104 pages
  • TforG
Report ID: 3559692

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This TforG report includes the Surgical Procedures Database with 620 surgical interventions, reported by the ICD-9 coding system in the Philippines. To add context to the surgical procedure volumes, the report provides written and numerical analysis on the current trends, size, changes and dynamics of the local markets. In addition, the latest reforms of the local Healthcare system are clearly outlined.

The report helps businesses gain a unique insight into the socio-economic dynamics until 2015, and helps analyze how they affect healthcare systems and their evolution. It can serve as an essential tool for sales, marketing, R&D and business managers with industry related interests.

Four chapters cover the numerical and written analysis for the following topics: Economic Outlook (38 Key industry indicators), The Healthcare System (HC system structures), Reforms (restructuring, re-engineering or austerity efforts) and the Healthcare Market (Capital Equipment, Medical Devices, Disposables and Pharmaceuticals).

The report includes 620 surgical interventions (in pdf format), reported by the ICD-9 international coding system in 13 specialisms, with data for three years: last year’s actuals (2014), one year of historical data, and one year of forecast. The specialisms included are: Cardiology, Neurology, Orthopedics, Urology, ENT, Ophthalmology, OBGYN, Endocrinology, Plastic, General, Thoracic, Hemic and Lymphatic system, Oncology.

Economic Outlook:
- GDP growth rate has remained stable from 2014 to 2015 at a rate of 6.5 percent. The GDP is composed of 10.7 percent from the agricultural sector, 31.5 percent from industry, and 57.8 percent from the service sector.
-The Philippines has demonstrated a strong sense of sustainability and economic vigor, after overcoming the devastation of the typhoon two years ago. Despite such a set-back, the average economic growth rate has been over 5 percent in the past 5 years.
-The current inflation rate lies at 3.3 percent, which is a gentle increase from previous years.
-The current unemployment rate is 7.1 percent.
-The Philippines have a credit rating of BBB, stable.
-The Philippine economy is in transition from agriculture based to manufacturing and services. It is forecasted that it will become the largest economy in Southeast Asia, the 5th largest economy in all of Asia, and the 16th largest economy of the world in the coming decades.

The Healthcare System:
-Healthcare spending in 2014 was 4.65 percent of GDP. The average spending of OECD nations is 9.3 percent of their GDP.
- 37.79 percent of healthcare spending is paid for through public health expenditure, and 62.2 percent via private health expenditure.
-The private sector is larger than the public sector in many regards, from human and financial capital to technological resources.
-There is a low level of financial protection and medical expense reimbursement from the national public insurance provider PhilHealth further trouble the equality of health provision.
-The Philippines rank 9th in the list of countries where TB is most extensive.
-The Philippines have made great progress in the past decades tackling infant mortality; the rate dropped by over 50% in the last 25 years.
-In 2013, of the total health costs paid for, 48.9 percent was financed by out-of-pocket payments, PhilHealth provided 11.1 percent, local governments coverd 13.32 percent, and the national government financed 15.54 percent. The remaining 11.1 percent fall under the other category, which includes a large share of charity contributions.

Reforms:
- Kalusugan Pangkalahatan (KP), or Universal Health Care, under the National Health Insurance Act (2013) This reform extends healthcare insurance coverage to include the poorest classes, via government subsidies, develop benefit packages and to remove co-payments
-Increasing bed capacity and public health facilities
-The Department of Health national objectives and the Aquino Health Agenda.
These objectives and reforms seek to provide financial risk protection, through expansion of the National Health Insurance Program and to improve access to healthcare and quality hospitals and facilities.

The Markets:
-The medical device and product market is currently worth around 500 m Euro, including medical consumables (21.9 percent), diagnostic imaging (35.8 percent), orthopedics and implants (3.2 percent), dental products (8.6 percent), auxiliary devices (9.1 percent) and other medical devices (21.5 percent).
-The pharmaceutical industry was worth approximately 145.05 bln PHP (2.85 bln Euro) in 2014. It is estimated to increase by 3.5 percent in local currency by 2015, equivalent to a total worth of 2.95 bln Euro.
-The Philippine medical industry is largely dependent upon foreign imports.
-Over 80 percent of medication sold in the Philippines is done through retail pharmacies.
-Both local and foreign generic manufacturers are quickly gaining larger market shares.
-National Public-Private Partnership program calling for support and business opportunities with private entities.

Country Overview:
Includes tables centralizing all relevant data on socio-demographics, macroeconomics and national Healthcare.

National Care Provision data:
Provides an overview of the Healthcare demographics: Nation Care provision data, Intensive Care units, Operating rooms, Emergency Rooms, Hospital services, Healthcare professionals.

Reasons to buy:
- Accurate analysis of trends, opportunities and challenges of the economy and healthcare industry
- Relevant healthcare reforms
- Written and numerical analysis on important healthcare indicators (eg.: acute care data, critical care data, anesthesia data, emergency data, healthcare professionals)
- Regularly updates, at least once year
- Every update published by TforG within 6 months after your purchase will be made available to you
- Global coverage, available for + 40 countries
- Surgical Procedure Volumes section incl. 620 ICD9 coded procedure volumes for five years: last year’s actuals (2014) (2014), three years of historical data, and two years of forecast
- Actionable information to capture size, trends and potential of the market

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