Philippines CT Scan Market Analysis

Philippines CT Scan Market Executive Summary

Philippines CT Scan Market was valued at $10.14 Mn in 2023 and is predicted to grow at a CAGR of 8.37% from 2023 to 2030, to $17.80 Mn by 2030.

A CT scan, or computed tomography scan, is a sophisticated imaging procedure that uses X-rays to produce detailed cross-sectional images of the body. Unlike traditional X-rays, CT scans capture multiple views from various angles, which a computer then processes into a three-dimensional representation of internal structures such as organs, bones, and soft tissues. Before the scan, patients may prepare by wearing a gown and removing metal objects. Depending on the type of scan, they might need to ingest a contrast material to enhance the visibility of specific tissues. During the scan, patients lie on a table that moves through a donut-shaped scanner while X-ray images are taken. Afterward, a radiologist interprets the images to diagnose conditions like cancer, heart disease, bone fractures, internal bleeding, and injuries. While CT scans offer detailed diagnostic capabilities, they involve radiation exposure and can be costly, though advancements have minimized risks and enhanced safety. Other imaging options like X-rays, ultrasound, and MRI scans are considered based on specific medical needs and radiation concerns.

Chronic diseases, which account for over 74% of global deaths annually according to the World Health Organization (WHO), are primarily managed through ongoing medical interventions. Chronic diseases like hypertension (15%), diabetes (4%), and cardiovascular diseases (3%) are prevalent among Filipinos aged 15 and over, with rates rising sharply to 53% among those aged 60 and above. Higher socioeconomic status and education correlate with increased disease prevalence. 42.4% of trauma patients receive cranial CT scans in the Philippines.

The market is therefore driven by significant factors like the rising burden of chronic diseases, growing population, and technological advancements. However, limited reimbursement, skilled workforce shortage, and infrastructure challenges restrict the growth and potential of the market.

A prominent player in this field is GE Healthcare, which launched a new refurbishing unit in Bangladesh for A1-Sure Ultrasound Systems, aiming to enhance accessibility to affordable ultrasound technology in developing regions, and Siemens Healthineers partnered with Microsoft to utilize Azure cloud services for AI-powered medical imaging solutions, aimed at advancing healthcare delivery with secure and scalable cloud computing. Other contributors include Canon Medical Systems, and NeuroLogica Corp. among others.

Market Dynamics

Market Growth Drivers

Rising Burden of Chronic Diseases: The Philippines faces a growing burden of chronic illnesses like cancer and heart disease. According to the Philippine Statistics Authority (PSA), cancer is the second leading cause of death in the country, accounting for 13.5% of all fatalities in 2020. CT scans play a crucial role in early detection and treatment planning for such diseases, driving market growth.

Growing Population: The Philippines has a young and growing population, with a projected annual growth rate of 1.5% (World Bank, 2023). This expanding population will lead to a rise in overall healthcare demand, including diagnostic imaging like CT scans.

Technological Advancements: Technological advancements in CT scanners are making them more appealing. The development of low-dose CT scanners and portable CT scanners offers benefits like reduced radiation exposure and increased accessibility, particularly in remote areas.

Market Restraints

Limited Reimbursement: Reimbursement for CT scans under PhilHealth, the national health insurance program, can be complex. Coverage varies depending on the specific scan, medical condition, and PhilHealth benefit package. This can lead to significant out-of-pocket expenses for patients, potentially discouraging unnecessary scans but also limiting access for those who need them.

Skilled Workforce Shortage: Operating and interpreting CT scans requires specialized training. A lack of qualified radiologists and technicians, particularly outside major cities, can hinder the efficient utilization of CT scanners and restrict market growth.

Infrastructure Challenges: Uneven distribution of healthcare resources and infrastructure limitations in some regions can create challenges for widespread CT scan access. Reliable electricity supply and proper maintenance facilities are crucial for CT scanners, which may be lacking in certain areas.

Regulatory Landscape and Reimbursement Scenario

Philippine Food and Drug Administration (FDA) regulates the CT scan market in the Philippines. Manufacturers need approval for their CT scanners before they can be sold or used in the country. The FDA focuses on ensuring safety, efficacy, and quality standards are met. This process can be time-consuming but ensures a baseline level of quality.

Reimbursement for CT scans in the Philippines is a complex issue. The National Health Insurance Program (PhilHealth) covers a portion of the costs for CT scans deemed medically necessary. However, the specific coverage can vary depending on the type of scan, the patient's condition, and their PhilHealth benefit package. This can lead to out-of-pocket expenses for patients, potentially creating a financial barrier to CT scans. There are also private insurance plans that may offer additional coverage, but navigating the reimbursement landscape can be challenging for both patients and healthcare providers.

Competitive Landscape

Key Players

Here are some of the major key players in the Philippines CT Scan Market:

• GE HealthCare
• Koninklijke Philips N.V.
• Siemens Healthineers AG
• Canon Medical Systems
• NeuroLogica Corp.
• Shanghai United Imaging Healthcare Co., Ltd.
• Fujifilm Holdings Corporation
• Shenzhen Anke High-tech Co., Ltd.
• Koning Health
• Carestream Dental LLC.