The Philippines Ophthalmology Market is currently at a growth stage. The market size has been evaluated in two parts, revenue from consultations and revenue from surgeries. Rising aging population in the age group of +65 years and lack of awareness about eye diseases has been complimenting the size of this industry. Coupled with increasing percentage of diabetes cases & more number of eye malfunctioning issues in adolescent population have surged market growth. Government support initiatives taken up towards increasing health insurance and significant shift of eye hospitals service providers towards high tech instruments has surged growth. The number of consultation in the single specialty eye hospitals and clinics has increased from ~ in 2013 to ~ in 2018 registering a CAGR of ~%.
The number of surgeries has significantly increased from ~ (2013) to ~ (2018), registering a CAGR of ~% (2013-2018) while the revenue generated from the same has surged from PHP ~ million to PHP ~ million from 2013 to 2018. Hence there has been a strong increase in the number of consultations and surgeries as well as increase in consultation fee. As of 2018, cataract was the most prevalent eye ailment followed by refractive error, glaucoma and retinal disorders. Most of the eye clinics and hospitals are situated in the Metro Manila and Calabarzon region because majority of the urban and wealthy population resides in these regions. Metro Manila and Calabarzon have been preeminent regions for consultations in 2018.
WHAT HAS BEEN THE SHARE OF DIFFERENT REGIONS BASED ON CONSULTATION FEE, CONSULTATION REVENUE & NUMBER OF SINGLE SPECIALTY CLINICS & HOSPITAL IN PHILIPPINES IN 2018?
Majorly, NCR and Calabarzon are concentrated in terms of the number of single specialty eye hospitals and clinics. NCR had approximately ~ number whereas Calabarzon, Ilocos and Davao have ~, ~ & ~ number of clinics respectively in 2018. NCR and Calabarzon regions are the leading regions because urbanization level and ease of doing business in the two regions. NCR had the highest average consultation fee of PHP ~ followed by Calabarzon, Zamboanga Peninsula and the others. The consultation fee is high in NCR and Calabarzon region because of commercialization and high standard of living in these regions. The consultation fee is high in Zamboanga Peninsula region because of demand-supply gap. It covers almost 12% of the total population but the number of eye clinics and hospitals are only around ~. NCR generates maximum revenue from consultation which was noted to PHP ~ million in 2018, followed by Calabarzon, Ilocos and Central Visayas. Even though the estimated number of eye hospitals and clinics in Western Visayas region are ~ which is higher than most of the regions, the revenue generated by it is very less because the average consultation fee is low when compared to other regions this is because most people living here are farmers and their disposable income is low. There is huge scope of future expansion in these areas. Difference in average consultation fees between NCR and Eastern Visayas is of close to PHP 600 per visit.
WHAT HAS BEEN THE SHARE OF DIFFERENT AILMENTS IN 2018 BASED ON SURGERY FEE, REVENUE FROM SURGERIES AND NUMBER OF SURGERIES?
Cataract accounted for ~ number of surgery and PHP ~ million surgery revenue in Philippines for 2018, it is the most prevalent eye disorder and also the second most expensive eye surgery, the reason for this is the increasing aging population in the country and late detection of other eye diseases which leads to cataract diseases. Increase in government support for providing free cataract surgery through PhilHealth which is the government’s insurance policy as well as increasing awareness through CSR programs and NGO activities has lead to further increase in cataract surgeries in the country. Surgeries for correction of refractive error were found to be ~ in 2018 and it accounted for revenue of PHP ~ million and it ranks second both in number of surgeries and revenue from surgeries because of changing lifestyle and increased exposure to electronic devices such as mobiles, tablets and PC etc. Increasing number of diabetic patients in the country, rising air pollution and rapid surge in ageing population in the country have surged growth.
WHAT IS THE STATE OF COMPETITIVE LANDSCAPE IN PHILIPPINES OPHTHALMOLOGY MARKET IN 2018?
Philippines Ophthalmology market is highly fragmented with ~ single specialty hospitals and clinics in 2018. No single entity occupies large proportion of the market in terms of both, number of consultation and surgeries & revenue generated. Galileo Eye Center, Asian Eye Institute, American Eye Center and Clinica Tamesis are some of the major players with a high market share.
Regional Clusters: ~ and ~ are the two major hubs driving the ophthalmology sector of Philippines. This is due to ease of doing business, presence of commercial hubs, offices and large number of wealthy population with resources to pay for the expensive eye treatment in these regions.
Major Entry Barriers: The major challenges faced by the hospitals and clinics include infrastructural limitations, stringent regulations, high operating costs and preference to old and reputed doctors and clinics.
Bargaining Power: The market is competitive in nature. The bargaining power of the patients is low as the fee for any service depends on the doctor, the type of equipments used and the brand value of the clinic.
Competing Parameters: The major parameters on the basis of which the players in the market compete with each other have been technological advancement in equipments, type and number of equipments facilitated, facilities offered, experienced and qualified ophthalmologist and fee for consultation and surgeries. Mastering these factors has helped the major players to yield higher revenue and popularity in the market during the review period.
For more information on the research report, refer to below link:
Indonesia Ophthalmology Market Outlook to 2023 – By Ailment Type (Cataract, Myopia, Glaucoma, Conjunctivitis and Others) and by Regions (DKI Jakarta, West Java, Central Java, North Sumatra and Others)
Vietnam Ophthalmology Market Outlook to 2023 – By Diseases (Cataract, Myopia, Glaucoma, Retina related Diseases, Blindness with Poor Eyesight, Conjunctivitis and Others), By Regions and By Hospitals (Single Specialty Eye Hospitals and Multi Specialty Hospitals)
Ankur Gupta, Head Marketing & Communications
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