Philippines Artificial Intelligence (AI) in Diagnostics Market Report 2022 to 2030

Philippines Artificial Intelligence (AI) in Diagnostics Market Analysis

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Philippines Artificial Intelligence (AI) in the diagnostics market is projected to grow from $2.2 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The market will be driven by the growing healthcare investments and rising incidence of chronic diseases. The market is segmented by component & by diagnosis. Some of the major players include IBM Watson Health, Siemens Healthineers & Philips Healthcare.

ID: IN10PHDH002 CATEGORY: Digital Health GEOGRAPHY: Phillipines AUTHOR: Vidhi Upadhyay

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Philippines Artificial Intelligence (AI) in Diagnostics Market Executive Summary

Philippines Artificial Intelligence (AI) in the diagnostics market is projected to grow from $2.2 Mn in 2022 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2022-30. The Philippines consists of over 7,500 islands and has more than 20,000 kilometres of coastline. This geography has several distant locations. There are now 400 IT parks and buildings in the Philippines that can accommodate healthcare information management (HIMS) services. The HIMS industry provides 10.3% of the Philippine economy, according to the Department of Trade and Industry. Cancer affects 189 of every 100,000 Filipinos in the Philippines, with four Filipinos dying of cancer per hour or 96 cancer patients each day.

The employment of diagnostic AI in the Philippines is rapidly increasing, with exciting research and initiatives taking place in a range of medical fields like radiology, pathology, oncology, cardiology, neurology, and others. While there are still challenges to overcome, such as regulatory limits and data availability problems, the potential benefits of diagnostic AI are considerable, and it is projected to play an increasingly important role in Philippines healthcare in the future years. Artificial intelligence (AI) is expected to have a substantial impact on the Philippines’ medical practice.

philippines artificial intelligence in diagnostics market analysis

Market Dynamics

Market Growth Drivers

The Department of Trade and Industry (DTI) emphasized that innovative technologies such as artificial intelligence (AI) can help the nation thrive in a post-pandemic environment.

In June 2021, During COVID-19, the Philippines developed AI technologies to benefit healthcare. The two COVID AI technologies were featured in a list of AI technologies and programs created and implemented by the agency in the midst of the ongoing coronavirus epidemic. In July 2022, INTERVENN BIOSCIENCES, a Filipino-founded biotechnology business located in the United States, begin delivering artificial intelligence (AI)-powered early cancer detection tests to the Philippines.

Market Restraints

The biggest hurdles to quality healthcare in the Philippines are a lack of facilities and surgical equipment. Half of the inhabitants in the Philippines live in rural regions, where there are frequently no certified medical physicians and facilities with damaged medical devices. Moreover, High acquisition costs add to the existing challenges.

Competitive Landscape

Key Players

IBM Watson Health
Siemens Healthineers
Philips Healthcare
GE Healthcare
Google Health
AliveCor, Inc.
Riverain Technologies

Notable Deals

February 2023, GE HealthCare to Acquire Caption Health The acquisition adds AI-enabled image guiding to the ultrasound device portfolios of GE HealthCare's $3 billion Ultrasound division
November 2022, Google Health reached an agreement with iCAD to commercialize mammography AI
In October 2022, Prudential plc and Google Cloud Establish Strategic Collaboration to Provide Access to Healthcare and Financial Security in Asia and Africa

Healthcare Policies and Regulatory Landscape & Reimbursement Scenario

PhilHealth, a government-owned business, manages public healthcare in the Philippines. PhilHealth covers a wide range of therapies, including Inpatient and outpatient treatment, diagnostic tests, prescription medicines, rehabilitation, and preventative services. A PhilHealth program is open to both local citizens and legal residents. The Philippines enacted the Universal Healthcare Act, in 2019, which established universal healthcare for all Filipinos. It also acknowledges the importance of evidence-based decision-making in establishing and implementing improved initiatives. There is currently no law in the Philippines to encourage eHealth.

Private medical institutions and care providers are part of the Filipino healthcare system. To aid with the expenditures of private healthcare, many Filipinos join Health Maintenance Organizations (HMOs) through their employer.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Artificial Intelligence (AI) in Diagnostics Market Segmentation

By Component Outlook Type (Revenue, USD Billion):
- Software
- Hardware
- Services

By Diagnosis Outlook Type (Revenue, USD Billion):
- Cardiology
- Oncology
- Pathology
- Radiology
- Chest and Lung
- Neurology
- Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.