Philippines Palliative Care Market Report 2022 to 2030

Philippines Palliative Care Market Analysis

$ 3999

The Philippines Palliative care market is projected to grow from $276.5 Mn in 2022 to $611.6 Mn by 2030, registering a CAGR of 10.43% during the forecast period of 2022 - 2030. The main factors driving the growth would be the increased prevalence of chronic diseases, increasing awareness, an aging population, government support, and technological advancements. The market is segmented by service type and by the end user. Some of the major players include Life Care, ActivCare Home Health Solutions, St. Luke’s Medical Center, Centura Health, and Cardinal Santos Medical Center.

ID: IN10PHHS013 CATEGORY: Healthcare Services GEOGRAPHY: Phillipines

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Philippines Palliative Management Market Executive Summary

The Philippines Palliative care market is projected to grow from $276.5 Mn in 2022 to $611.6 Mn by 2030, registering a CAGR of 10.43% during the forecast period of 2022 - 2030. The Philippines had an 18.5% increase in health spending from $16.8 Bn in 2020 to $20 Bn in 2021. This growth outpaced the 12.8% growth from the previous year.

The goal of palliative care is to enhance the quality of life for patients and their families who are struggling with a terminal illness. Through early detection, accurate diagnosis, and effective treatment of pain and other issues, whether they are physical, psychosocial, or spiritual, it avoids and alleviates suffering. Taking care of problems beyond bodily symptoms is part of alleviating misery. To support patients and their carers, palliative care employs a team approach. This includes attending to practical needs and offering counseling for grieving. It provides a system of assistance to enable patients to remain as active as they can until they pass away.

The rise of the palliative care market in the Asia Pacific region is projected to be fueled by the increased emphasis of major palliative care service providers on regional expansion into developing Asia-Pacific nations in order to achieve a sizable market share.

Market Dynamics

Market Growth Drivers

The Philippines' palliative care market is expected to be driven by factors such as the increased prevalence of chronic diseases, increasing awareness, an aging population, and technological advancements. Moreover, the Philippine government and other organizations are attempting to increase access to and the quality of care while also supporting palliative care to a greater extent. The market is growing as a result of this support, which is also advancing the nation's palliative care industry as a whole.

Market Restraints

The high cost of treatment and the fragmented delivery methods are factors that are restricting the growth of the palliative care market in the Philippines. Palliative care services are frequently dispersed, which can hinder market expansion, lead to poor care coordination, and result in less-than-ideal outcomes for patients.

Competitive Landscape

Key Players

Life Care (PHL)
ActivCare Home Health Solutions (PHL)
St. Luke’s Medical Center (PHL)
Centura Health (PHL)
Cardinal Santos Medical Center (PHL)

Healthcare Policies and Regulatory Landscape

The Department of Health (DOH) and the Philippine Health Insurance Corporation are principally in charge of regulating the market for palliative care in the Philippines (PHIC). Regarding policies, the DOH has put in place a number of programs and initiatives targeted at enhancing patients' access to palliative care services for those with life-limiting conditions. Additionally, the government has created hospice facilities across the nation and committed funds for the training of medical professionals in palliative care. The DOH is in charge of establishing standards and regulations for the provision of palliative care services. On the other side, the PHIC covers palliative care services within its health insurance policy, giving eligible clients access to these therapies. The FDA also controls the import and distribution of medications used in palliative care, assuring their efficacy and safety.

Reimbursement Scenario

The Philippine Health Insurance Corporation (PHIC), the nation's major health insurer, primarily offers reimbursement coverage for the palliative care sector in the Philippines. Palliative care services are covered under PHIC's health insurance program for qualifying beneficiaries, including those with terminal diseases. The price of medicines, medical equipment, and other items required for palliative care is covered by this insurance.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market 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 Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Philippines Palliative Care Market Segmentation

By Service Type (Revenue, USD Billion):

Based on service type, the Philippines palliative care market is divided into the following:

Private residence care
Hospice inpatient care
Hospital inpatient care
Nursing home and residential facility care
Others

By End User (Revenue, USD Billion):

Based on end-user type, the Philippines palliative care market is divided into the following:

Hospitals
Home Care Settings
Palliative Care Centers
Long-Term Care Centers & Rehabilitation Centers

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.