Philippines Artificial Intelligence (AI) in Healthcare Market Analysis

Philippines Artificial Intelligence (AI) in Healthcare Market Analysis


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The Philippines Artificial Intelligence (AI) In healthcare market is projected to grow from $0.02 Bn in 2022 to $xx Bn by 2030, registering a CAGR of xx% during the forecast period of 2022-2030. The market will be driven by the rise in investment in healthcare infrastructure, technical expertise, and improvement in regulatory frameworks. The market is segmented by healthcare components & by healthcare applications. Some of the major players include IBM Watson Health, Lifetrack Medical Systems & Zennya.

ID: IN10PHDH003 CATEGORY: Digital Health GEOGRAPHY: Phillipines AUTHOR: Vidhi Upadhyay

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Philippines Artificial Intelligence (AI) In Healthcare Market Executive Summary

The Philippines Artificial Intelligence (AI) In healthcare market is projected to grow from $0.02 Bn in 2022 to $0.31 Bn by 2030, registering a CAGR of 45.72% during the forecast period of 2022-2030. PhilHealth, a government-owned corporation, manages public healthcare in the Philippines. PhilHealth covers a wide range of treatments, including inpatient care and non-emergency surgery. A PhilHealth programme is open to both local citizens and legal residents. Large hospital groups drive hospital development across the country and provide capital for facility upgrades and equipment modernization. The majority of hospitals are located in the Calabarzon region, which has approximately 228 hospitals. After which comes Central Luzon, which has about 196 hospitals. The National Capital Region (Metropolitan Manila) is comprised of sixteen independent cities and one independent municipality, with a total of 186 hospitals.

Artificial Intelligence (AI) adoption and utilisation in healthcare in the Philippines is still in its early stages, but it is expanding gradually. AI-powered healthcare solutions, such as telemedicine platforms, diagnostic tools, and personalised health monitoring systems, are being developed by a number of private companies and startups. The use of AI in healthcare is likely to increase as the government and private sector continue to invest in digital healthcare technologies and regulatory frameworks are established, improving healthcare outcomes for the people of the Philippines.

Philippines Artificial Intelligence (AI) In Healthcare Market

Market Dynamics

Market Growth Drivers

The Philippine Department of Health and the Philippine Health Insurance Corporation (PhilHealth) issued Joint Administrative Order 2021-002, or the Mandatory Adoption and Use of National Health Data Standards for Interoperability, with the goal of establishing national health data standards, developing the Philippine market, and identifying governance implementation for health information technology services. The increasing use of digital technologies in the healthcare sector is one of the main drivers of AI in healthcare in the Philippines. It is being driven by the government's effort for digital transformation as well as the rising demand for healthcare services as the country's population grows. AI technologies such as machine learning, natural language processing, and computer vision can assist healthcare professionals in quickly and accurately analysing vast amounts of data, resulting in more efficient diagnoses and treatment plans.

Market Restraints

There are several impediments to the growth of AI in healthcare in the Philippines. The shortage of resources and technical expertise required to implement AI technologies is one of the major impediments. Many healthcare organisations in the Philippines lack the resources and knowledge required to integrate AI into their existing systems, and there is a qualified professional shortfall in the field of AI.

Competitive Landscape

Key Players

  • IBM Watson Health
  • Google Health
  • Microsoft Healthcare
  • GE Healthcare
  • NVIDIA
  • Philips Healthcare
  • Zennya (PHL)
  • Lifetrack Medical Systems (PHL)
  • Advanced Abilities (PHL)

Notable Insights

In March 2023, AGS Health, a leader in revenue cycle management solutions, announced the establishment of operations in Manilla, Philippines. The expansion will provide AGS Health and its customers with increased access to global talent as a strategic growth partner to more than 100 major healthcare providers across the United States.

In May 2022, Advanced Abilities, a Filipino startup, officially launched Smartscan, an AI-enabled X-ray platform.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy 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 Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Artifical Intelligence (AI) in Healthcare Market Segmentation

The Artificial Intelligence (AI) in Healthcare Market is segmented as mentioned below:

By Healthcare Component (Revenue, USD Billion):

  • Software Solutions
  • Hardware
  • Services

By Healthcare Applications (Revenue, USD Billion):

  • Robot-Assisted Suregery
  • Virtual Assistants
  • Administrative Workflow Assistants
  • Connected Machines
  • Diagnosis
  • Clinical Trials
  • Fraud Detection
  • Cybersecurity
  • Dosage Error Reduction

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 30 May 2023
Updated by: Keta Vora

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