Philippines Telemedicine Market Analysis


  • Type: Service area
  • Published : February 2022
  • Region: Philippines
  • Country: Other
  • Report ID : 5081

  • Format: PPT, PDF

Philippines Telemedicine Market Analysis: Segmented by Service, Type, Specialty, Delivery Mode – Growth, Market Size, Future Prospects & Competitive Analysis, 2020 – 2028

SKU: 5081 Categories: ,

Report Description of the Philippines Telemedicine Market Analysis

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Reason to buy the report:

  • Facilitate decision-making based on strong current and forecast data for Philippines Telemedicine Market Analysis
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Philippines Telemedicine  Market  Analysis
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

Philippines Telemedicine Market Analysis Executive Summary

Telemedicine is defined by the World Health Organization as “the delivery of health care services, where distance is a critical factor, by all health care professionals using information and communication technologies for the exchange of valid information for diagnosis, treatment and prevention of disease and injuries, research and evaluation, and for the continuing education of health care providers, all in the interests of advancing the health of individuals and their communities”. Teleconsultation refers more specifically to the consultation done using telecommunications, with the purpose being diagnosis, or treatment of a patient with the sites being remote from patient or physician.

Market Size and Key Findings

The Philippines Telemedicine Market Analysis size stood at around USD xx billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Market Dynamics

Market Growth Drivers Analysis

The telemedicine market in Philippines is expected to present lucrative opportunities in the forthcoming years and driven by a plethora of factors such as increasing government initiatives for introduction and advancement of healthcare infrastructure, R&D activities, and rapid penetration of technology. Healthcare facilities have begun embracing telemedicine, which has resulted in minimization of long waiting time along with better overall patient outcome.

Market Restraints

The high initial setup cost and error in sampling pathological data would be catastrophic for global telemedicine market.

Covid-19 Market Impact Analysis           

The incidence of COVID-19 has resulted into travel restrictions due to government regulations such as nationwide lockdown and social distancing. This has offered significant spike in demand for telemedicine services during the pandemic. With rising number of COVID-19 cases and awareness regarding telemedicine benefits, people are shifting towards telemedicine platforms for appointments and check-up to combat the spread of COVID-19 infection. Furthermore, healthcare centers are adopting digital tools in terms of virtual care and telemedicine services. This will propel the market growth.

Competitive Landscape

Key Players

Some of the major industry players involved in Asia Pacific telemedicine market include Koninklijke Philip N.V., In Touch Technologies Inc., Resideo Technologies Inc. and AMD Global Telemedicine Inc. among others. Companies undertake various strategies such as new product launch geographic expansions to strengthen their market share.

Products in Pipeline

  • Globe Telecom’s KonsultaMD, a 24/7 health hotline service manned by skilled and licensed Filipino doctors, also boasts of more than 1.5 million paying subscribers.

Notable Recent Deals

  • Lifeline is partnering with Philippine based company MyDocNow and US-based Company Avizia, a pioneer in the delivery of a telehealth platform that works with large health systems and insurance providers to connect patients to healthcare specialists anywhere in the world.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

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. E-Health strategic framework and act was initiated back in 2014 but its full force implementation started in the year 2019-2020.

The team at Lifeline is pleased to announce their easy to use telemedicine platform is now available in the Philippines for their Lifeline members. The new service offers virtual medical services that connect medical professionals and patients seamlessly using a mobile app that has been successful in the United States. The new platform will offer a real-time experience for Lifeline patients, offering everything from free video consultations with doctors, comprehensive patient education, free delivery of prescriptions and medications and free doctors/nurse home visits in the greater Metro Manila area. This comprehensive service will be offered as a monthly subscription plan for a fixed monthly fee of PHP 400 per member.

1. Report Description of the Philippines Telemedicine Market Analysis
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Philippines Telemedicine Market Analysis Executive Summary
2.1 Philippines Telemedicine Market Analysis – Industry Snapshot & key buying criteria, 2020-2028
2.2 Market Size, Growth Prospects and Key findings
3. Market Dynamics of Philippines Telemedicine Market Analysis
3.1 Market Growth Drivers Analysis
3.1.1 Increasing government initiatives
3.1.2 Advancement of healthcare infrastructure
3.2 Market Restraints Analysis
3.2.1 Poor Infrastructure and Technological Barrier to Hinder Growth
3.3 Covid-19 Market Impact Analysis
4. Philippines Telemedicine Market Segmentation
4.1 By Service:
4.1.1 Tele-consulting
4.1.2 Tele-monitoring
4.1.3 Tele education/ training
4.1.4 Others
4.2 By Type:
4.2.1 Telehospital
4.2.2 Telehome
4.3 By Specialty:
4.3.1 Cardiology
4.3.2 Dermatology
4.3.3 Mental Health
4.3.4 Neurology
4.3.5 Orthopedics
4.3.6 Gynecology
4.3.7 Others
4.4 By Delivery Mode:
4.4.1 Web/Mobile
4.4.2 Call centers
5. Philippines Telemedicine Market Share
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
6.2 Products in Pipeline
6.3 R&D Initiatives Telemedicine Market
6.4 Notable recent deals in Telemedicine Market
6.4.1 Joint Ventures
6.4.2 Partnerships
6.4.3 Mergers & Acquisitions
6.4.4 Strategic divestments
7. Key Company Profiles
7.1 Koninklijke Philips N.V. Company overview
Product & Services, Strategies & Financials
7.2 In Touch Technologies Inc. Company overview
Product & Services, Strategies & Financials
7.3 Cerner Corporation Company overview
Product & Services, Strategies & Financials
7.4 AMD Global Telemedicine Inc. Company overview
Product & Services, Strategies & Financials
7.5 Aerotel Medical System Company overview
Product & Services, Strategies & Financials
7.6 McKesson Corporation Company overview
Product & Services, Strategies & Financials
7.7 Cisco Company overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape
8.1 Policy changes and Reimbursement scenario
8.2 Government Initiatives / Intervention programs
9. Factors Driving Future Growth
9.1 New Trends and Development of Telemedicine market
9.2 Future Opportunities
10. Strategic Recommendations

Philippines Telemedicine Market Analysis Segmentation

By Service:

By service, the telemedicine market is segmented into tele-monitoring, tele-consulting, tele educational/ training and others. Tele-Monitoring is leading the market in this segment.

By Type:

Based on type, the telemedicine market is segmented into telehospital and telehome. Telehome care segment held a lucrative market share in 2019 and is expected to show significant growth during the analysis timeframe. Telehome services can be availed in remote areas where it becomes difficult to reach hospitals and requires long traveling. TeleECG system can be made available at patient’s home as well as in ambulance with equipment. TeleECG transmit ECG images at hospitals that have receiver and storage system. Such services are increasing the demand for telehome, thus, foresting the segmental growth.

By Specialty:

Based on speciality, the telemedicine market is classified into cardiology, dermatology, mental health, neurology, orthopaedic, gynaecology and others. Telemedicine has been helpful during the COVID-19 pandemic for gynaecologist to consult pregnant women, as visiting hospitals might cause infection. Furthermore, the options of regular check-ups for pregnant women via video conferencing will further drive the application of telemedicine in gynecology.

By Delivery Mode:

By delivery mode, the telemedicine market is bifurcated into web/mobile and call centre. The web/mobile is further divided into telephone and visualized. Telephone telemedicine is mainly designed to communicate the clinical health issues between doctors and patient. Interactive voice system is designed with recorded voice for patient. Thus, this has increased its adoption rate and propel the segmental share.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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