Outpatient Care - Philippines

Philippines

In the Philippines, the revenue in the Outpatient Care market is forecasted to reach US$1.42bn in 2024.
It is expected that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 10.22%, leading to a market volume of US$2.31bn by 2029.
Comparing globally, United States will generate the highest revenue, amounting to US$744.80bn in 2024.
The Philippines is experiencing a growing trend in outpatient care as more healthcare facilities are being established to meet the increasing demand for accessible and affordable healthcare services.

Key regions: United Kingdom, Japan, China, Brazil, Canada

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Analyst Opinion

The Outpatient Care market in Philippines has been experiencing significant growth in recent years.

Customer preferences: Customers in the Philippines are increasingly seeking affordable and accessible healthcare services. Outpatient care services provide a convenient and cost-effective alternative to traditional hospital-based care. Patients can receive treatment for a variety of conditions without having to stay overnight in a hospital, which can be expensive and time-consuming.

Trends in the market: One of the key trends in the Outpatient Care market in the Philippines is the growing popularity of walk-in clinics and urgent care centers. These facilities offer quick and convenient access to medical care for minor illnesses and injuries. Another trend is the increasing use of telemedicine technologies, which enable patients to consult with healthcare providers remotely.

Local special circumstances: One of the unique challenges facing the Outpatient Care market in the Philippines is the large number of people living in rural areas. Many of these individuals do not have easy access to healthcare facilities, which can make it difficult for them to receive timely medical treatment. To address this issue, some outpatient care providers have begun offering mobile clinics that travel to rural areas to provide medical services.

Underlying macroeconomic factors: The growth of the Outpatient Care market in the Philippines is being driven by a number of macroeconomic factors. These include the country's rapidly growing population, rising healthcare costs, and increasing demand for high-quality medical services. In addition, the government has been investing in healthcare infrastructure and promoting the use of technology to improve healthcare delivery. These factors are expected to continue driving growth in the Outpatient Care market in the Philippines for the foreseeable future.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on revenue received by hospitals from public or private sources, allocated to the country where the money is spent, including VAT if applicable.

Modeling approach / Market size:

Market sizes are determined by a bottom-up approach, based on a specific rationale for each market market. Next, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, public health spend, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.