The Philippines' home healthcare market was valued at $0.79 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 7.93% from 2022 to 2030 and will reach $1.46 Bn in 2030. A rapidly ageing population, and an increase in the prevalence of chronic conditions. These factors are all critical drivers of the Philippine home healthcare market's growth. The market is segmented by device type, service type, and indication type. The key players in the market are Alaya Health Care, Pure Swiss Wellness Mckenzie & Jones Healthcare, Shema Healthcare Products, Hi-Tech hearing centre Inc., and others
The Philippines home healthcare market size was valued at $0.79 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 7.93% from 2022 to 2030 and will reach $1.46 Bn in 2030. The Philippines is one of the fastest-growing emerging markets, and the 3rd highest economy in Southeast Asia by nominal GDP, following Thailand and Indonesia.
The healthcare services industry is composed of businesses, single proprietorships, and partnerships that provide human healthcare services and sell healthcare services and associated products. Businesses in this industry provide nursing care, residential substance abuse, and mental health facilities, dental treatment, and medical and diagnostic laboratory services, among other healthcare services. The primary categories of healthcare services include residential substance abuse and mental health facilities, hospitals and outpatient care facilities, doctors and other health practitioners, all other ambulatory healthcare services, ambulance services, dental services, home health care, residential nursing care services, and medical and diagnostic laboratory services. Hospitals and outpatient care centers offer medical diagnosis and treatment to patients with a range of medical problems.
The Philippines home healthcare market represents a wide range of home medical devices and services to support patients with chronic disease conditions. The risk and prevalence of chronic and lifestyle-related diseases are constantly increasing in the Philippines which would drive the acceptance of home medical devices and services, consequently leading to the growth of the market. Home healthcare is provided in a patient’s home, which includes skilled professionals through physical, speech, and occupational therapy. According to WHO, people aged 65 years may rise from 605 million in recent years to 2 Bn by 2050. Philippine's Home healthcare market is expected to gain market growth in the forecast period of 2022 to 2030
Market Growth Drivers
The demand for cost-effective healthcare delivery is rising due to rising healthcare costs, a rapidly aging population, and an increase in the prevalence of chronic conditions. These factors are all important drivers of the Philippines home healthcare market's growth.
The lack of skilled nursing personnel with a compassionate attitude is anticipated to slow the rate of expansion of the Philippines home healthcare market.
Ayala Healthcare Holdings (AC Health), a wholly-owned subsidiary of Philippines-based Ayala Corporation, a conglomerate with multiple business interests in real estate, banking, telecom, etc., has made an investment in AIDE, a startup delivering healthcare services at patients’ doorsteps.
The Philippines government expanded the Senior Citizen’s Act of 2010 [Republic Act No. 9994] granting additional benefits and privileges to senior citizens, including a 20% discount and exemption from the value-added tax (VAT) on home healthcare services. Also free medical and dental services, diagnostic and laboratory fees in all private outsourced, medical facilities, outpatient clinics, and home health care services.
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)
184.108.40.206 Product Applications and Services
220.127.116.11 Recent Developments
18.104.22.168 Partnerships Ecosystem
22.214.171.124 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
By Device Type (Revenue, USD Billion):
Based on the device type the market is segmented into testing, screening, monitoring devices, therapeutic home healthcare devices, and mobility assist.
By Service Type (Revenue, USD Billion):
By Indication Type (Revenue, USD Billion):
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