The Philippines clinical diagnostics market size is expected to grow at a CAGR of 4.8% during the forecast period of 2024-2032, driven by rising healthcare and research associated investments, along with the rising incidence of infectious diseases across the region.
Clinical diagnostics are applied across multiple healthcare domains including infectious disease testing, complete blood count tests, along with liver and renal panels. The rising prevalence of chronic diseases in Philippines has elevated the demand for clinical diagnostics drastically. Being one of the most dynamic economies in the East Asia and Pacific region, Philippines has been witnessing rapid urbanization and an influx of investments to improve the medical sector, bolstering the market growth.
Philippines clinical diagnostics market demand is driven by the increasing improvements and adoption of modern technologies to offer better services to the patients. Philippines laboratories are increasingly adopting automated and digital solutions to streamline workflows and enhance accuracy of results. In addition, rising awareness on early disease detection and implementation of numerous screening programs by public as well as private institutions is expected to drive the market growth in the forecast period.
Investments in Infrastructure Improvement to Drive the Philippines Clinical Diagnostics Market Growth
In March 2023, the Philippines administration approved 123 new infrastructure projects worth USD 163 billion. The major investment was made to enhance the research and medical infrastructure in the country, which specific emphasis on building digital connectivity and facilitating remote consultations and services across the country. It is bound to initiate multiple public-private partnerships and boost the overall economic landscape of the region.
The Philippines clinical diagnostic market share is expected to increase by increasing integration of cutting-edge technologies. In September 2023, the Consul-General of Japan and Surigao city mayor signed an agreement to grant PHP 3.5 million (USD 62k) to establish mobile x-ray system in one of the city hospitals. The investment is a testament to rising government initiatives poised at enhancing the infrastructure and making quality services available at an affordable price.
Rising Prevalence for Artificial Intelligence
In August 2023, Japan International Cooperation Agency (JICA) and the Philippines Department of Health (DOH) collaborated to bring artificial intelligence (AI) Computer Aided Detection (CAD) to allow early tuberculosis diagnosis, and eventually help in disease prevention. The latest technology, when applied on 400 suspected tuberculosis patients, led to successful diagnosis in 382 patients, implying its efficacy to analyze infectious diseases. The technology is expected to be used in the detection of other diseases as well, solidifying artificial intelligence integration, which is one of the major Philippines clinical diagnostic market trends.
Using Advanced Solutions for Better Patient Outcomes
Over the years, the incidence of cardiovascular diseases and cancer has significantly seen an upswing. Lung, breast, colon, rectum, and prostate cancers are some of the most commonly occurring cancers, affecting around 189 in 100,000 Filipinos. As a result, the demand for improved clinical diagnostics has risen. Focused on providing improved solutions to the patients, the healthcare providers and professionals have been continuously working to upscale their services. For instance, the Manila Doctors Hospital (MDH) has adopted several quality services to enhance the quality of services. With a new cancer institute and cardiovascular center, equipped with cardiac catheterization laboratory (cath lab), coronary care unit, cardiac rehab, and heart care services, the hospital has been accredited for medical tourism as well.
Market Breakup by Test
Market Breakup by Product
Market Breakup by End User
The market growth can be attributed to an influx of investments from government, non-profit organizations as well as international healthcare companies. With easy availability of resources and academic talent, major MedTech companies are setting up new research facilities in the region, which is poised to boost the Philippines clinical diagnostics market growth in the forecast period. In addition, the growing incidence of geriatric population and a heightened focus on preventing infectious diseases is a notable market driver. In addition, other regions such as Baguio City and Central Luzon are also witnessing expedited market growth, owing to increasing infrastructure improvements.
In February 2023, Siemens Healthineers and Unilabs announced EUR 200 million worth collaboration, wherein Unilabs acquired around 400 laboratory analysers to improve their infrastructure and facilitate improved diagnostic services to the consumers. The market has been witnessing a significant boost in merger related activities, with several companies pushing their boundaries to expand their product portfolios. Heightened focus on sustainability and making high-end technology accessible and affordable is a major market trend being adopted by key companies.
The key features of the Philippines clinical diagnostics market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Scope of the Report
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Test
|Breakup by Product
|Breakup by End User
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Philippines Clinical Diagnostics Market Overview
3.1 Philippines Clinical Diagnostics Market Historical Value (2017-2023)
3.2 Philippines Clinical Diagnostics Market Forecast Value (2024-2032)
4 Philippines Clinical Diagnostics Market Dynamics
4.1 Market Drivers and Constraints
4.2 SWOT Analysis
4.3 Porter’s Five Forces Model
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Degree of Rivalry
4.4 Key Demand Indicators
4.5 Key Price Indicators
4.6 Industry Events, Initiatives, and Trends
4.7 Value Chain Analysis
5 Philippines Clinical Diagnostics Market Segmentation
5.1 Philippines Clinical Diagnostics Market by Test
5.1.1 Market Overview
5.1.2 Lipid Panel
5.1.3 Liver Panel
5.1.4 Renal Panel
5.1.5 Complete Blood Count
5.1.6 Electrolyte Testing
5.1.7 Infectious Disease Testing
5.1.8 Other Tests
5.2 Philippines Clinical Diagnostics Market by Product
5.2.1 Market Overview
5.2.4 Other Products
5.3 Philippines Clinical Diagnostics Market by End User
5.3.1 Market Overview
5.3.2 Hospital Laboratory
5.3.3 Diagnostic Laboratory
5.3.4 Point of Care Testing
5.3.5 Other End Users
6 Patent Analysis
6.1 Analysis by Type of Patent
6.2 Analysis by Publication Year
6.3 Analysis by Issuing Authority
6.4 Analysis by Patent Age
6.5 Analysis by CPC Analysis
6.6 Analysis by Patent Valuation
6.7 Analysis by Key Players
7 Grants Analysis
7.1 Analysis by Year
7.2 Analysis by Amount Awarded
7.3 Analysis by Issuing Authority
7.4 Analysis by Grant Application
7.5 Analysis by Funding Institute
7.6 Analysis by NIH Departments
7.7 Analysis by Recipient Organization
8 Funding Analysis
8.1 Analysis by Funding Instances
8.2 Analysis by Type of Funding
8.3 Analysis by Funding Amount
8.4 Analysis by Leading Players
8.5 Analysis by Leading Investors
8.6 Analysis by Geography
9 Partnership and Collaborations Analysis
9.1 Analysis by Partnership Instances
9.2 Analysis by Type of Partnership
9.3 Analysis by Leading Players
9.4 Analysis by Geography
10 Regulatory Framework
10.1 Regulatory Overview
11 Supplier Landscape
11.1.1 Financial Analysis
11.1.2 Product Portfolio
11.1.3 Demographic Reach and Achievements
11.1.4 Mergers and Acquisitions
11.2 ARUP Laboratories
11.2.1 Financial Analysis
11.2.2 Product Portfolio
11.2.3 Demographic Reach and Achievements
11.2.4 Mergers and Acquisitions
11.3 OPKO Health, Inc.
11.3.1 Financial Analysis
11.3.2 Product Portfolio
11.3.3 Demographic Reach and Achievements
11.3.4 Mergers and Acquisitions
11.4 Bioscientia Healthcare GmbH
11.4.1 Financial Analysis
11.4.2 Financial Portfolio
11.4.3 Demographic Reach and Achievements
11.4.4 Mergers and Acquisitions
11.5 Charles River Laboratories
11.5.1 Financial Analysis
11.5.2 Product Portfolio
11.5.3 Demographic Reach and Achievements
11.5.4 Mergers and Acquisitions
11.6 NeoGenomics Laboratories
11.6.1 Financial Analysis
11.6.2 Product Portfolio
11.6.3 Demographic Reach and Achievements
11.6.4 Mergers and Acquisitions
11.7 Genoptix, Inc.
11.7.1 Financial Analysis
11.7.2 Product Portfolio
11.7.3 Demographic Reach and Achievements
11.7.4 Mergers and Acquisitions
11.8.1 Financial Analysis
11.8.2 Product Portfolio
11.8.3 Demographic Reach and Achievements
11.8.4 Mergers and Acquisitions
11.9 The Laboratory Glassware Co.
11.9.1 Financial Analysis
11.9.2 Product Portfolio
11.9.3 Demographic Reach and Achievements
11.9.4 Mergers and Acquisitions
11.10 Laboratory Corporation of America Holdings
11.10.1 Financial Analysis
11.10.2 Product Portfolio
11.10.3 Demographic Reach and Achievements
11.10.4 Mergers and Acquisitions
11.11 Fresenius Medical Care AG and Co. KGaA
11.11.1 Financial Analysis
11.11.2 Product Portfolio
11.11.3 Demographic Reach and Achievements
11.11.4 Mergers and Acquisitions
11.12.1 Financial Analysis
11.12.2 Product Portfolio
11.12.3 Demographic Reach and Achievements
11.12.4 Mergers and Acquisitions
11.13 Quest Diagnostics Incorporated
11.13.1 Financial Analysis
11.13.2 Product Portfolio
11.13.3 Demographic Reach and Achievements
11.13.4 Mergers and Acquisitions
11.14 Siemens Healthcare Private Limited
11.14.1 Financial Analysis
11.14.2 Product Portfolio
11.14.3 Demographic Reach and Achievements
11.14.4 Mergers and Acquisitions
11.15 Tulip Diagnostics (P) Ltd.
11.15.1 Financial Analysis
11.15.2 Product Portfolio
11.15.3 Demographic Reach and Achievements
11.15.4 Mergers and Acquisitions
12 Philippines Clinical Diagnostics Market - Distribution Model (Additional Insight)
12.2 Potential Distributors
12.3 Key Parameters for Distribution Partner Assessment
13 Key Opinion Leaders (KOL) Insights (Additional Insight)
14 Company Competitiveness Analysis (Additional Insight)
14.1 Very Small Companies
14.2 Small Companies
14.3 Mid-Sized Companies
14.4 Large Companies
14.5 Very Large Companies
15 Payment Methods (Additional Insight)
15.1 Government Funded
15.2 Private Insurance
*Additional insights provided are customisable as per client requirements.
* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.
The market is anticipated to grow at a CAGR of 4.8% during the forecast period of 2024-2032, driven by increasing healthcare and research associated investments along with growing prevalence of infectious diseases across the region.
The market demand is driven by the rising emphasis on preventing infectious and fatal chronic diseases via early detection. The increasing integration of modern technologies, such as artificial intelligence and mobile systems, in clinical diagnostics is also fuelling the market demand.
The rising investments focused on improving the healthcare infrastructure is a major market trend. In September 2023, the Consul-General of Japan and Surigao city mayor signed an agreement to grant PHP 3.5 million (USD 62k) to establish mobile x-ray system in one of the city hospitals. Moreover, the government also sanctioned 123 new infrastructure projects worth USD 163 billion.
Based on test, the market is divided into lipid panel, liver panel, renal panel, complete blood count, electrolyte testing, and infectious disease testing, among other tests.
Instruments and reagents, among others are the common technologies available in the market.
Major end users include hospital laboratory, diagnostic laboratory, point of care testing, and others.
Key players involved in the market are Abbott, ARUP Laboratories, OPKO Health, Inc., Bioscientia Healthcare GmbH, Charles River Laboratories, NeoGenomics Laboratories, Genoptix, Inc., Healthscope, The Laboratory Glassware Co., Laboratory Corporation of America Holdings, Fresenius Medical Care AG, and Co. KGaA, QIAGEN, Quest Diagnostics Incorporated, Siemens Healthcare Private Limited, and Tulip Diagnostics (P) Ltd.
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