Future Growth of Health Tech Market In Philippines |Ken Research

The Philippines government introduced universal health coverage (UHC) in 2019. The UHC Act embodies this choice and was carried by a broad coalition of parliamentarians across the political spectrum. With the advent of advancements in the Healthcare sector, another law was introduced to promote health technology in the country. eHealth strategic framework and act was initiated back in 2014 but its full force implementation started in the year 2019-2020.

Philippines’ digital health ecosystem is rapidly growing, creating opportunities for new entrants as well as new areas for partnership and collaborations. The Philippines have a mixed but unorganized model of public and private delivery of healthcare which requires an immediate improvement to bridge the gap of healthcare accessibility. Philippines’s increasing technologically engaged population is providing a strong foundation for digital health. End user’s preference to adapt to technological platform is a subset of the “tech ability age”. Older doctors/patients are less acclimated to technology. The health tech solutions are becoming important for the healthcare system in the country to improve the delivery of precision healthcare and to tackle the huge unharmonized data. Digital health has emerged as a key area of disruptive innovation in the Philippines in the last 2-3 years and is gaining momentum as the Philippines’ sizeable youth population increasingly looks to digital solutions to access goods and services.

Digital health is emerging in the Philippines, to address a number of challenges in the country’s healthcare system. The healthcare improvements are expected to overcome the geographical challenges as well as major doctor shortages per Filipino.

In the last 2-3 years, a range of digital health companies and digital health solutions have emerged in Philippines. Philippines’s has a growing population who are geographically dispersed are a strong user base for the Philippines’ emerging digital health applications.

Philippines Health Tech Market Segmentation

By Product Type:

The health tech market is segmented on the basis of four major types of products available in the Philippines. The Philippines health tech market is segmented into the E-pharmacy market, online consultation market, and healthcare IT solutions market.

The Health IT segment holds a higher share in the Philippines health tech market during 2020 owing to the increasing need to organize and structure the previously existed unharmonized data.  Lockdown in the initial months of 2020 helped both E-Pharmacy and Online Consultation market to boon. Whereas on the other hand, the appointment booking segment held almost zero share in the market due to its low product awareness and an almost negligible number of players in the market.

Detailed Analysis On E-Pharmacy Market

E-Pharmacy Market:

The E-pharmacy market was observed to be in its initial growing stage around the year 2015. A vast increase in growth was witnessed over the recent years. The reason behind the slow growth was the strict government regulations. Prescription-based drugs/products are slowly contributing more towards the sales revenue in the E-pharmacy market.

The E-pharmacy market is further segmented on the basis of order split, order platform, and cities. The competition in the E-pharmacy market was observed to be concentrated with major players competing on the basis of availability of products, pricing/discounts, product variety, and other factors. Some of the major players include Mercury, MedGrocer, Muramed, and others, with Mercury Pharmacy leading the market in terms of GMV in 2020P. Owing to clear government regulations for the e-pharmacy platforms along with the increase in product listings on E-platforms platforms, the online sale is expected to grow in the near future.

Detailed Analysis On Online Consultation Market

 The online consultation market was in its nascent growth stage in its initial years. It witnessed regular growth over the years as it bridged the gap for healthcare availability in the Philippines. Video consultation contributes the maximum towards the revenue by value of the online consultation market. The online consultation market is further segmented on the basis of mode of consultation, type of doctor, and cities. The competition in the online consultation market was observed to be highly concentrated amongst the domestic players. They compete on the basis of availability of doctors, type of doctors, and other factors.

Detailed Analysis On Healthcare It Solutions Market

The Healthcare IT Solutions market was observed to be in its steady growth stage initially as compared to other markets, alongside witnessing adequate growth over the years. Clinics being the majority of end-user contribute the largest revenue value for the healthcare IT solutions market. The competition in the healthcare IT solutions market was observed to be highly concentrated with major players competing on the basis of product variety, service offerings, clientele, and other factors.

Comparative Landscape In Philippines Health Tech Market

 The competition was observed to be moderately fragmented however, within some product segments; the competition has become concentrated with the entry of domestic players such as BizBox, Serious MD, and others. Nevertheless, the international/domestic players have a presence in the market in terms of revenue, product variants, and others.

Philippines Health Tech Future Outlook And Projections

 Factors such as cheap product variants, additional availability of doctors, shifting from traditional to online health services will drive the Philippines Health Tech market in the near future both in terms of revenue and sales volume. Apart from domestic players, numerous other international players might enter the market and contribute towards the growth in the future in Philippine’s health tech market.

Key Segments Covered: –

E-Pharmacy Market Size, 2017-2025F

Online Consultation Market Size, 2017-2025F

Healthcare IT Solutions Market, 2017-2025F

Product Type

E-Pharmacy Market

Order Split (Prescribed, OTC and Others)

Order Platform (Mobile and Web)

Cities/Region (Manila, Region III-IV, Mindanao/ Davao and others)

Online Consultation Market

Mode of Consultation (Chat, Audio, Video)

Type of Doctor (General and Specialized)

Cities/Region (Manila, Region III-IV, Mindanao/ Davao and Others)

Healthcare IT Solutions Market

Products (HMS, CMS, PMS/PIS, EMR)

Cities/Region (Manila, Central Luzon, Mindanao/Davao others)

Key Target Audience

Healthcare Professionals

Hospitals& Clinics

Venture Capitalists

Government and Regulatory Bodies

Health Tech Companies

Health Tech Industry Consultants

Time Period Captured in the Report:

Historical Period: 2017-2020P

Forecast Period: 2020P–2025F

Companies Covered:

Online Consultation

AIDE

Konsulta MD

Medifi

Medgate

Zennya

eZConsult

Dima

HealthNow

My Pocket Doctor

Kitika

icliniq

E-Pharmacy

Mercury Pharmacy

Watson

Southstar drug

Rose Pharmacy

AIDE

Muramed

GetMeds

MedGrocer

Healthcare IT Solutions

Hybrain

Exist Healthcare

BizBox

KCCI Medsys

Comologik

Medcurial

Serious MD

Ascendant Technologies

MedCheck

MedProjects

Segworks

Key Topics Covered in the Report: –

Philippines Health Tech Market Introduction

Philippines Health Tech Market Size, 2017-2020P

Philippines Health Tech Market Segmentation, 2017-2020P (By GMV and on the basis of type of product – E-Pharmacy, Online Consultation and Healthcare IT Solutions)

Detailed Analysis on Philippines E-Pharmacy Market (By GMV – By Order Split on the basis of Prescribed drugs, OTC drugs, Medical devices and other products, By city – Manila, Region III-IV, Mindanao/ Davao and Others, By Order platform – Mobile application and web browser, By No. of Orders – By Order Split on the basis of Prescribed drugs, OTC drugs, Medical devices and other products, By city – Manila, Region III-IV, Mindanao/ Davao and Others, By Order platform – Mobile application and web browser)

Detailed Analysis on Philippines Online Consultation Market (By No. of Consultations: By Mode of Consultation – Chat, Video and Audio, By Type of Doctor – General Practitioners and Specialized Doctor, By City/Region – Manila, Region III-IV, Mindanao/ Davao and Others, By GMV – By Mode of Consultation – Chat, Video and Audio, By Type of Doctor – General practitioner and Specialized Doctor, By City – Manila, Region III-IV, Mindanao/ Davao and Others)

Detailed Analysis on Philippines Healthcare IT Solutions Market (By Revenue –By Product Type – Software and IT Services)

Trends and Developments in Philippines Health Tech Market (Future Projections on

Regulatory Landscape in Philippines Health Tech Market

Target End Users (target End users for the E-Pharmacy segment, online consultation segment and healthcare IT solutions segment)

Competitive Landscape in Philippines Health Tech Market

International Success Case Study for Philippines Health Tech Market

Philippines Health Tech Market Future Outlook and Projections, 2020P-2025F (By GMV and on the basis of type of product – E-Pharmacy, Online Consultation and Healthcare IT

For More Information on the Research Report, Click on the below link: –

Future of Philippines Health Tech Market

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Philippines Retail Pharmacy Market By Market Structure, (Organized and Unorganized Market) , By Type of Store Location (Standalone and Hospital Based Pharmacies) By Region (North, Central and South), By Type of Sales (Prescribed Medicines, OTC Products, Non-Pharmaceutical Products and Medical Equipment) By Type of Drug (Generic and Patented Drug) and by Therapeutic Class.

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