Philippines Physiotherapy Market Report 2022 to 2030

Philippines Physiotherapy Market Analysis

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The Philippines physiotherapy market size was valued at $34 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 16.30% from 2022 to 2030 and will reach $133 Mn in 2030. The Philippines' physiotherapy market is expected to grow due to the growing number of healthcare professionals and the increasing aging population. The market is segmented by Product Type, Application Type, and End User. The major players in the Philippines physiotherapy are Medtecs International Corporation, BTL Industries, EMS Physio Ltd., and others.

ID: IN10PHHS016 CATEGORY: Healthcare Services GEOGRAPHY: Phillipines

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Philippines Physiotherapy Market Executive Summary

The Philippines physiotherapy market size was valued at $34 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 16.30% from 2022 to 2030 and will reach $133 Mn in 2030. The Philippines' GDP was approximately $398.3 Bn in 2020. The country's health spending or Current Health Expenditure (CHE) reached $20 trillion in 2021. The Philippines has a mixed public-private healthcare system, with both government-funded and private healthcare providers. The government provides free healthcare services through its public healthcare system, which is funded by taxes, but the public healthcare system is often underfunded and overcrowded, leading many people to rely on private healthcare providers for their medical needs. The government also provides subsidies for certain medical treatments and prescription drugs for low-income individuals and families.

Physiotherapy-based rehabilitative care is becoming increasingly relevant in the Philippines as more people have access to more cutting-edge medical, emergency, and trauma treatment. For patients who have or are at risk of developing a short- or long-term impairment due to an illness or accident, rehabilitation care is a crucial part of treatment. Both patients and carers have benefited greatly from the integration of rehabilitation therapy into the healthcare continuum.

By reducing patient admission times while providing better care and hastening patient recovery, healthcare practitioners can meet value-based care standards. Patients may also guarantee the greatest outcomes for both medicinal and surgical operations. As a result, rehabilitation treatment is now a common part of the care continuum at many healthcare facilities. As a result, there is also a larger requirement for physiotherapy equipment as well as equipment for rehabilitation.

As an alternative to medication and surgery, patients can receive physiotherapy treatments from service providers to address injuries and illnesses. Cryotherapy is used in physiotherapy in a number of ways. Continuous passive motion machines can be used to successfully alleviate edoema and post-operative pain. In physical therapy, iontophoresis is a sort of electrical stimulation that aids in administering medication to the body. Heat therapy can help the muscles and soft tissues move more freely, increasing blood flow and circulation. High-level data from research has demonstrated the value of therapeutic exercise for patients across a variety of physiotherapy practice areas. The growing senior population, which requires therapeutic activity, is anticipated to drive the market for physiotherapy in the Philippines.

philippines physiotherapy market analysis

Market Dynamics

Market Growth Drivers

The growing number of healthcare professionals is one of the primary drivers of the physiotherapy industry's growth. Hospitals and other healthcare institutions use physiotherapy supplies and treatments when a patient is recovering from a medical condition. In order to meet the growing demand, healthcare providers are expanding their capacity in terms of services, goods, and machinery, which expands the opportunities for those who make and supply these products. Moreover, the growing population of the elderly requiring therapeutic exercise is set to drive the physiotherapy market.

Market Restraints

The healthcare insurance plan's coverage and pricing have a big impact on how much money people pay out-of-pocket. Service differences and a drop in care quality could come from this. Patients are frequently required to pay out of pocket due to coverage differences between government and private payers. Before co-insurance kicks in, patients might have to pay a co-pay, co-insurance, facility fees, and a sizable deductible. Co-pays for certain physiotherapy treatments could be quite expensive, which limits patients' access to therapies, resulting in situations where patients do not receive therapy.

Competitive Landscape

Key Players

Medtecs International Corporation (PHL)
Medtek Medical Equipment (PHL)
Bigaan Medical Equipment (PHL)
BTL Industries
EMS Physio Ltd.
DJO Global, Inc.
Dynatronics Corporation, Inc.
Medline Industries
Performance Health

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario of the Philippines Physiotherapy Market

In the Philippines, the practice of physiotherapy is regulated by the Professional Regulation Commission (PRC) through the Board of Physical and Occupational Therapy (BPTOT). Physiotherapy equipment and the device is regulated by the Food and Drug Administration (FDA) of the Department of Health (DOH). The FDA sets standards for the safety and quality of medical devices, including physiotherapy equipment, and it oversees the registration and monitoring of medical devices in the Philippines.

To import, distribute or sell physiotherapy equipment in the Philippines, registration of the device or equipment with the FDA is necessary, and obtain a certificate of product registration (CPR). The FDA also requires that the physiotherapy equipment meets the standards set by the International Electrotechnical Commission (IEC) for electrical safety.

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 Physiotherapy Market Segmentation

By Product: (Revenue, USD Billion):

Based on product, the physiotherapy equipment market is divided into two major segments, namely, equipment and accessories. The equipment segment accounted for the largest share of the physiotherapy equipment market in 2021. The equipment segment is further segmented into electrotherapy equipment, ultrasound equipment, exercise therapy equipment, heat therapy equipment, cryotherapy equipment, combination therapy equipment, continuous passive motion therapy equipment, shockwave therapy equipment, laser therapy equipment, magnetic pressure therapy equipment, traction therapy, and other physiotherapy equipment (hydrotherapy and vacuum therapy). Owing to the increasing use of electrotherapy equipment in the treatment of musculoskeletal disorders and owing to increasing concerns for patients’ safety and minimal/no side-effects during the physiotherapy treatments.

Equipment

Electrotherapy equipment
Ultrasound equipment
Exercise therapy equipment
Heat therapy equipment
Cryotherapy equipment
Combination therapy equipment
Continous passive motion therapy equipment
Shockwave therapy equipment
Laser therapy equipment
Magnetic pressure therapy equipment
Traction therapy
Other physiotherapy equipment

Accessories
Manual Therapy
Specialized treatment
Joint Mobilization Techniques
Suspension Therapy

By Application (Revenue, USD Billion):

Based on application, the physiotherapy equipment market is segmented into musculoskeletal applications, neurological applications, cardiovascular and pulmonary applications, pediatric applications, gynecological applications, and other applications (including sports and palliative care). The musculoskeletal applications segment holds a dominating share attributed to the increasing adoption of physiotherapies to accelerate recovery of accidental injuries, rising incidence of musculoskeletal disorders, and growth in the geriatric population.

By Applications

Musculoskeletal applications
Neurological applications
Cardiovascular and pulmonary applications
Pediatric applications
Gynecological applications
Other applications

By End-user (Revenue, USD Billion):

Based on end users, the physiotherapy equipment market is segmented into physiotherapy & rehabilitation centers, hospitals, home care settings, physician offices, and other end users (community health centers and elderly care facilities). In 2021, the physiotherapy & rehabilitation centers segment accounted for the largest share of the physiotherapy equipment market due to increasing demand for advanced physiotherapy equipment and their wide usage across the care continuum across these centers.

Physiotherapy & Rehabilitation centers
Hospitals
Home care settings
Physician offices

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.