Philippines ENT Devices Market Report 2022 to 2030

Philippines ENT Devices Market Analysis

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The Philippines ENT Devices Market is projected to grow from $50 Mn in 2022 to $80 Mn by 2030, registering a CAGR of 6% during the forecast period of 2022-30. The rising prevalence of ENT disorders, such as hearing loss, sinusitis, and tonsillitis, is a major driver of the ENT device market. The market is highly competitive, with a large number of players operating in the space, ranging from small, specialized companies to large multinational corporations. The domestic key players in the Philippines ENT devices market include Biolink, Amesco Drug Corporation, and Medtecs International Corporation.

ID: IN10PHMD009 CATEGORY: Medical Devices GEOGRAPHY: Phillipines AUTHOR: Dr. Vishwa Modhia

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Philippines ENT Devices Market Analysis Summary

The Philippines ENT Devices Market is projected to grow from $50 Mn in 2022 to $80 Mn by 2030, registering a CAGR of 6% during the forecast period of 2022-30.

The Philippines is a lower-middle-income country (LMIC) in Southeast Asia with a population of more than 110 million people. As of 2020, the Philippines had 1,915 hospitals, including 1,148 commercial hospitals and 767 government hospitals, with a total bed capacity of 22,773. 66 hospitals are directly controlled and managed by the Philippine Department of Health. The National Health Insurance Program - PhilHealth - covers around 900 hospitals. In the Philippines, there is a growing awareness of ENT issues, which is leading to an increase in the number of persons seeking medical treatment and diagnosis for their conditions. The Philippines' government spent 5.1% of its GDP on healthcare in 2020.

Philippines ENT Devices Market

Market Dynamics

Market Growth Drivers Analysis

In 2019, the Philippines signed the Universal Health Care Law (UHC). To encourage more Filipinos to consult specialised doctors and undergo expensive medical procedures, the UHC plans to cover at least half of the medical expenses. Large hospital groups, which continue to purchase existing facilities and invest in new ones, increase demand for medical devices. In the Philippines, the prevalence of ENT problems such as hearing loss, sinusitis, and tonsillitis is rising. This is increasing demand for diagnostic and treatment options, such as ENT devices. The Philippine government is aggressively investing in healthcare infrastructure and putting the healthcare industry first. These aspects could boost the Philippines ENT Devices Market.

Market restrains.

The Philippine medical device industry is heavily reliant on imports. Local medical device manufacturing is limited to spare parts, medical consumables, and spare parts. China, Germany, Singapore, and Japan are the primary suppliers. These factors may deter new entrants into the Philippines ENT Devices Market.

Competitive Landscape

Key Players

Medtecs International Corporation - Based in Manila, Medtecs International Corporation produces a range of medical devices, including ENT devices such as ear speculums, nasal speculums, and tonsil instruments
Amesco Drug Corporation - Based in Quezon City, Amesco Drug Corporation produces a range of medical devices, including ENT devices such as ear syringes, nasal aspirators, and throat mirrors
Meridian Medical Supplies - Based in Makati City, Meridian Medical Supplies produces a range of medical devices, including ENT devices such as ear irrigators, ear curettes, and nasal catheters
Biolink - Based in Pasig City, Biolink produces a range of medical devices, including ENT devices such as nasal packs, ear wicks, and septal buttons
Tenso Medical Instruments Co., Ltd. - Based in Cebu City, Tenso Medical Instruments Co., Ltd. produces a range of medical devices, including ENT devices such as ear forceps, nasal forceps, and tonsillectomy instruments

Recent Notable Updates

July 2021: The Philippines has announced the implementation of a list of critical medical devices as well as price ceilings. The Philippines Necessary Medical Device List, or PEMDL, is a list of essential medical equipment that will be published by the Philippine government. All PEMDL-listed products will be subject to a required maximum price known as the Medical Devices and Supplies Price Reference Index, or MDSRPI. The PEMDL and the MDSRPI will apply to all purchases made by DOH-owned healthcare facilities, including hospitals and rehabilitation centres.

Healthcare Policies and Reimbursement Scenarios

The Philippine Food and Drug Administration's Center for Device Regulation, Radiation Health, and Research is in charge of medical device registration (CDRRHR - FDA). The Philippines is a member of the ASEAN Medical Device Directive, which categorises medical devices into four risk classes: A, B, C, and D. In the Philippines, the regulation and reimbursement of medical devices, including ENT (Ear, Nose, and Throat) devices, are overseen by the country's Food and Drug Administration (FDA) and the Philippine Health Insurance Corporation (PhilHealth). PhilHealth provides coverage for a range of medical devices, including ENT devices, through its various health insurance plans.

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

ENT Device Market Segmentation

The ENT Device Market is segmented as mentioned below:

By Product Type (Revenue, USD Billion):

Diagnostic Devices
Surgical Devices
Hearing Aids
Hearing Implants
Co2 Lasers
Image-Guided Surgery Systems

By Diagnostic Devices (Revenue, USD Billion):

Endocsopes
Hearing Screening Devices

By Surgical Device (Revenue, USD Billion):

Powered Surgical Instruments
Radiofrequency (RF) Handpieces
Handheld Instruments
Balloon Sinus Dilation Devices
ENT Supplies
Ear Tubes
Voice Prosthesis Devices

By End Users (Revenue, USD Billion):

Hospitals and Ambulatory Settings
Home Use
ENT Clinics

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.