Analyst firm has estimated that the healthcare IT spending in Philippines will reach $60 million in 2019, growing with a compound annual growth rate of 4% during 2016 to 2019.
In a recent published IDC research titled “Philippines: Healthcare IT Spend Market Analysis, Forecasts and Trends,” findings showed that the largest spending group in health IT is the healthcare providers market including hospitals with 88% share in 2015.
In the same year, spending on the hardware segment is the highest at 79% share, with services and software spending ranked the second and third places, clearly indicating the country’s current priority is focused on upgrading existing IT infrastructure. This is consistent with many other countries in the Asean region.
“The primary macroeconomic indicators driving growth in the country include upheaval of infrastructure in healthcare and education services and a growing number of private hospitals in the Philippines. These indicators will bolster the IT spending growth in the Philippines healthcare market,” said Arpana Bharti, market analyst at IDC Health Insights.
At present, spending on healthcare IT is still limited, with clear disparities between the private and the public sectors. The private sector, which aims for medical tourism impetus, is the leader when it comes to IT adoption.
Meanwhile, IT spending in the public sector is still centered on developing hardware infrastructure as the government aims to make existing health services more accessible, added Jubert Daniel Alberto, head of operations in IDC Philippines.
The primary focus for both public and private healthcare institutions is to bridge health disparities between the urban and rural populations in the Philippines, IDC said.
Private hospitals will move toward an “intensity of care” delivery model that will require new physical environments, processes reorganization, and an overhaul of existing ICT structures that will aid growth, it added.
According to IDC, mobility solutions, tele-health and CRM solutions will be the key needs the market will look for from tech vendors.