Philippines Biomaterials in Healthcare Market Report 2022 to 2030

Philippines Biomaterials in Healthcare Market Analysis

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The Philippines Biomaterials in Healthcare Market is expected to witness growth from $344 Mn in 2022 to $960 Mn in 2030 with a CAGR of 13.70% for the forecasted year 2022-30. In the Philippines, the prevalence of chronic diseases is on the rise, the population is ageing, and the medical tourism industry is expanding. These factors are some of the main market expansion drivers for manufacturers of the Biomaterials Healthcare market. The market is segmented by type and by application. Some key players in this market include SpectruMed, Getz Healthcare, BASF SE, Johnson and Johnson, Medtronic and Evonik Industries.

ID: IN10PHMD003 CATEGORY: Medical Devices GEOGRAPHY: Phillipines AUTHOR: Jigyasu Bhandari

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Philippines Biomaterials in Healthcare Market Executive Analysis

The Philippines Biomaterials in Healthcare Market size is at around $344 Mn in 2022 and is projected to reach $960 Mn in 2030, exhibiting a CAGR of 13.70% during the forecast period. Health expenditure in the Philippines increased from $14.32 billion in 2019 to $16.12 billion in 2020. Consequently, at current rates, it represented 5.6% of the Gross Domestic Product (GDP). In 2021, the household Out-Of-Pocket contribution in the Philippines made up about 41.5% of the country's present health spending. Household final health-related expenditure in the Philippines was estimated at $11.65 billion in 2022.

The use of biomaterials in multiple healthcare applications throughout the Philippines makes up the Biomaterials in Healthcare market. In medical devices, implants, tissue engineering, drug delivery, and other healthcare uses, biomaterials can be synthetic or natural materials. Orthopaedic and dental implants, such as tooth implants and bone screws, are frequently made from biomaterials like titanium, ceramics, and polymers. In order to encourage tissue regeneration and wound closure, biomaterials like collagen, hyaluronic acid, and chitosan are frequently used in wound healing goods like dressings and scaffolds. In tissue engineering, biomaterials are used to make artificial tissues and systems, such as heart valves and skin grafts. These substances act as a scaffold on which cells can expand and form healthy structures.

Biomaterials can be used to transport medicines and other therapeutic agents to particular parts of the body in a controlled way, such as tumours or damaged tissues. The danger of infection and other problems related to medical device implantation can be decreased with the use of biomaterials that are created to be biocompatible and encourage tissue regeneration. Biomaterials that are made to last a long time can help patients and healthcare workers save money by reducing the need for frequent replacements. Previously impractical medical applications like tissue engineering and drug delivery now have cutting-edge treatment choices thanks to biomaterials.

philippines biomaterial in healthcare market

Market Dynamics

Market Growth Drivers

The Philippines Biomaterials in Healthcare market has experienced rapid expansion in recent years, propelled by a number of market factors that offer manufacturers chances to develop their clientele and take market share. In the Philippines, the prevalence of chronic diseases is on the rise, the population is ageing, and the medical tourism industry is expanding. These factors are some of the main market expansion drivers for manufacturers in the Biomaterials in Healthcare market. In the Philippines, conditions like diabetes and gout are becoming more common. The demand for biomaterials in the healthcare industry is being driven by the efficient management of these situations provided by medical devices and implants made of biomaterials. Patients from all over the globe travel to the Philippines in search of cost-effective and high-quality healthcare options. This industry receives a significant boost from the Biomaterials in Healthcare market, where makers can profit from the rising demand for implants and medical devices made of biomaterials.

Market Restraints

The Philippines Healthcare Market may be unable to produce cutting-edge devices and solutions due to a lack of government funding for biomaterials research and development (R&D). It may be challenging for new manufacturers to join the market and successfully compete with established players in the healthcare sector. The demand for biomaterials in the healthcare sector may fluctuate as a result of the Philippines' unstable economy, making it challenging for manufacturers to effectively plan and predict.

Competitive Landscape

Key Players

SpectruMed (PH)
Getz Healthcare (PH)
BASF SE
Johnson and Johnson
Medtronic
Evonik Industries

Notable Recent Deals

2022: One of the biggest firms in the Philippines, Aboitiz Equity Ventures, revealed that it had purchased a 51% share in Bio Therapeutics (BTI), a biotechnology firm that specialises in the creation of novel biomaterials for tissue regeneration and wound healing.

Healthcare Policies and Regulatory Landscape

Government organisations in the Philippines, including the Department of Health (DOH) and the Food and Drug Administration, are in charge of overseeing the healthcare laws and regulations in the country's Biomaterials in Healthcare industry (FDA). In the Philippines, policies and laws pertaining to healthcare must be developed, put into effect, and monitored by the DOH. It establishes standards for pharmaceuticals, medical devices, and biomaterials to guarantee their effectiveness and safety. The FDA, on the other hand, is in charge of policing and keeping an eye on the production, importation, and distribution of medicines, medical devices, and other healthcare goods in the nation. It has set standards for the registration and approval of biomaterials products, including testing and assessing their quality, effectiveness, and safety. Innovative medical device and biomaterial research is financed and supported by the Innovative Drug and Device Development Program (IDDP). The Philippine National Health Research System (PNHRS) system encourages and finances national initiatives for health research and development, including investigations into biomaterials and other medical advances.

1. Executive Summary
1.1 Device Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Regulatory Landscape for Medical Device
1.6 Health Insurance Coverage in Country
1.7 Type of Medical Device
1.8 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

Biomaterials in Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on type, the market is segmented into Metallic Biomaterials, Polymeric Biomaterials, Ceramic Biomaterials, and Natural Biomaterials. The Metallic Biomaterials segment accounted for the largest share of the Philippines market in 2019. The growing geriatric population Philippinesly is expected to drive growth for this segment.

Metallic Biomaterials
- Stainless Steel
- Titanium & Titanium Alloys
- Cobalt-Chrome Alloys
- Gold
- Silver
- Magnesium
Polymeric Biomaterials
- Polymethylmethacrylate
- Polyethylene
- Polyester
- Silicone Rubber
- Nylon
- Polyetheretherketone
- Other Polymeric Biomaterials
Ceramics
- Calcium Phosphate
- Zirconia
- Aluminum Oxide
- Calcium Sulfate
- Carbon
- Glass
Natural Biomaterials
- Hyaluronic Acid
- Collagen
- Gelatin
- Fibrin
- Cellulose
- Chitin
- Alginates
- Silk

By Application (Revenue, USD Billion):

The cardiovascular, orthopaedic, dental, plastic surgery, wound healing, tissue engineering, ophthalmology, neurological/CNS, and other applications segments are made up of the biomaterials market. The market category for wound healing is anticipated to have the highest CAGR in 2019. The market will increase as a result of factors including expanding healthcare infrastructure, a large population pool, a rising diabetic population, and rising healthcare spending. Surgical Guides

Cardiovascular
- Catheters
- Stents
- Implantable Cardiac Defibrillators
- Pacemakers
- Sensors
- Heart Valves
- Vascular Grafts
- Guidewires
- Others
Orthopedic
- Joint Replacement
  - Knee Replacement
  - Hip Replacement
  - Shoulder Replacement
  - Others
- Viscosupplementation
- Bioresorbable Tissue Fixation
- Spine?
  - Spinal Fusion Surgeries
  - Minimally Invasive Fusion Surgeries
  - Motion Preservation & Dynamic Stabilization Surgeries
    - Pedicle-Based Rod Systems
    - Interspinous Spacers
    - Artificial Discs
- Fracture Fixation Devices
  - Bone Plates
  - Screws
  - Pins
  - Rods
  - Wires
- Synthetics Bone Grafts
Ophthalmology
- Contact Lenses
  - Intraocular Lenses
  - Functional Replacement of Ocular Tissues
  - Synthetic Corneas
  - Others
Dental
- Dental Implants
- Dental Bone Grafts & Substitutes
- Dental Membranes
- Tissue Regeneration
Plastic Surgery
- Soft-Tissue Fillers
- Craniofacial Surgery
Wound Healing
- Wound Closure Devices
  - Sutures
  - Staples
- Surgical Hemostats
- Internal Tissue Sealants
- Adhesion Barriers
- Hernia Meshes
Tissue Engineering
- Scaffolds for Regenerative Medicine
- Nanomaterials for Biosensing
- Tailoring of Inorganic Nanoparticles
  ?
Neurological/Central Nervous System Applications
- Shunting Systems
- Cortical Neural Prosthetics
- Hydrogel Scaffolds for CNS Repair
- Neural Stem Cell Encapsulation
  ?
Other Applications
- Drug Delivery Systems
- Gastrointestinal Applications
- Bariatric Surgery
- Urinary Applications

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.