Boston, MA -- (SBWIRE) -- 06/04/2013 -- Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Despite having one of the largest populations in the world, let alone ASEAN, the country remains largely poor, and most of the opportunities are centred around Manila and surrounding areas on the island of Luzon, with areas such as Mindanao lagging behind overall.

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The Philippines medical device market is expected to grow at a solid 8.1% in the medium term. This growth will be spearheaded by the growth of imports, health expenditure, the private sector and medical tourism.

The Philippines has a history of political instability. The current ruling administration has had its fair share of controversy. The highly devolved health sector makes it difficult to stamp out corruption and other bureaucratic problems.

Medical device spending is around US$4 per capita in 2011, similar to that in Vietnam and China. The Philippines has some domestic capacity to produce basic hospital items, but the majority of the market is supplied by imports. Private hospitals in Manila represent the best prospects for suppliers.

In June 2010, newly elected president President Benigno Aquino said he wants every citizen have access to healthcare by 2013. The Aquino administration plan to achieve this goal by expanding the coverage of the Philippine Health Insurance Corp (PhilHealth) to all citizens, particularly the poor.

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