We’re gearing towards opening new hospitals and providing more hospital beds, as well as modernizing our existing facilities. We anticipate increased investment in equipment and better protocols governing purchasing.
As a country of more than 100 million people, we need a healthcare system that can care for our huge population. Non-hospital based diagnostic centers help us deliver this care across the Philippines.
The estimated market value of the high-tech medical device market is over US$600 million. Medical devices and diagnostic imaging products account for more than 80% of this total.
Total healthcare expenditure in the Philippines
Spent by Philippine households on healthcare
Hospitals & Infirmaries
Expansion of healthcare services through public and private sector initiatives means demand for medical equipment and devices in the Philippines is growing. Our government is planning to build more health centers and hire more medical professionals. Provision of medical services in rural areas will increase. Alongside new facilities, existing health centers will be modernized, with equipment upgraded.
While there are a few ISO-accredited medical device manufacturers currently in the country, most of our medical equipment and devices are imported. The opportunity is there for foreign investors to help make healthcare expansion happen in the Philippines. Currently, almost 100% of medical equipment and devices are imported, with diagnostic imaging products making up the bulk of the market. The demand will be driven by both public and private sector initiatives now that the government is relaxing rules on private sector participation in the market.