Eye Care Consultations in the Philippines are expected to rise to over 2.2 Million by the year ending 2023: Ken Research

Key Findings

• Revenue generated through Cataract registering CAGR of close to 12% during 2018-2023 while Retina Related Ailments would display strongest CAGR of close to 15% during the same.

• The consultation revenue in the Philippines Ophthalmology Market is expected to increase at CAGR of close to 9% during the period 2018-2023E while the number of eye surgery revenue is expected to rise at CAGR of close to 11% during the period 2018-2023E. NCR would register highest revenue growing at a CAGR of close to 9%, similar to Calabarzon, Ilocos Region, Central Visayas, Davao Region, MIMAROPA, Central Luzon, Cagayan Valley and others.

• Strongest growth would be witnessed in Zamboanga Peninsula region during the forecast period.

Philippines Ophthalmology Market is expected to witness a sound growth in terms of number of consultations, number of surgeries, consultation revenue and surgery revenue registering a CAGR of close to 6%, 6%, 9% and 11% respectively during 2018-2023. Surging unhealthy lifestyle, expanding geographical presence of eye clinic and hospitals and ophthalmologist and implementation of Universal Health Care by the government will support the growth of the market. Increase in eye health awareness would act as a prime driver in the market. Since eye treatments are expensive, it has been projected that increase in household income along with increasing awareness towards eye care will lead to increase in number of eye consultation and eye surgeries during the period 2018-2023. Philippines signed Universal Health Care (UHC) Bill in March 2019 into law (Republic Act No. 11223) that automatically enrolls all Filipino citizens in the National Health Insurance Program and prescribes complementary reforms in the health system. It has been estimated that Philippines’ population would increase to 117 million by the end of 2023E. Rising population would directly demand higher need for eye care. The old age population will also increase rapidly which will lead to further increase cataract surgeries which accounts for 70% of the total eye surgeries in the Philippines. According to a study conducted in February 2019, Philippines have topped the global list for time spent online with an average of 10 hours and two minutes of screen time via different media such as mobile phones, tablets and PCs every day. Moreover, in future it is expected that the number of hours spent on screen will increase due to increasing internet penetration in country, which will have harmful effects on the eyes and leads to prevalence of refractive errors such as Myopia and other eye ailments.

Diabetes has been one of the most prevalent ailments among the Filipinos, with 3,721,900 cases in adults (as of 2017) and this number is expected to increase in the next 5 years. Diabetes is one of the major causes of eye ailments like cataract and Glaucoma and therefore with an increase in number of diabetic patients, the market of Philippines Ophthalmology will also increase. Diabetic Retinopathy is an eye ailment that occur in diabetic patients who have been suffering from Diabetes for more than 15 years and it is also expected that number of patients having diabetic retinopathy will increase due to unhealthy eating habits and increasing consumption of aerated drinks and poor lifestyle of people. Cornea is the only part of the human body which receives oxygen supply directly from the atmosphere, whenever the human body is awake. Henceforth, with increasing air pollution in Philippines, there will be increase in number of patients suffering from an eye ailment such as Dry Eye. In future it is anticipated that, increasing exposure to ultraviolet rays will also impact the human eye and will lead to eye ailments such as Pterygium.

NCR and Calabarzon are expected to remain the dominant regions in terms of consultation revenue because of ease of doing business in these regions and also because new clinics and hospitals are expected to come up in these regions. Contribution of other remaining regions is expected to remain almost the same, but it is expected that by 2023 contribution of regions like Ilocos and Central Visayas will increase as the young graduates from ophthalmology institutes will plan to expand in these regions as the level of commercialization in these regions is expected to increase. Cataract is expected to remain the most prevalent eye ailment in Philippines, but it is projected that the number of percentage of cataract surgery will fall in next 5 years till 2023 on the back of expected awareness and technological improvements will lead to early detection of ailments. All this factors will help individuals to take precautions so that the ailment is cured without surgery. It is expected that overall percentage of surgeries for correction of refractive error will increase to 19% in 2023. It is expected that the number of hours spent on screen will increase due to increasing internet penetration in the country, which will have harmful effects on the eyes and leads to increase in prevalence of refractive errors such as Myopia and other eye ailments. Moreover many individuals who wear spectacles want to get rid of it for which they are undergoing Lasik surgeries.

Analysts at Ken Research in their latest publication “Philippines Ophthalmology (Eye Centers, Clinics and Hospital Chains) Market Outlook to 2023 - Investment Potential by Region and by Ailment Type (Cataract Surgery, Glaucoma Surgery, Refractive Error Surgery, Other Retina Related Surgeries and Others), Lasik & Aesthetics Centers” believed that the Philippines Ophthalmology Market will increase due to the increasing ageing population in the country, surge in the exposure to electronic devices coupled with lack of ophthalmologists and ophthalmology centers in the country.

For more information on the market research report, please refer to the below link:
https://www.kenresearch.com/healthcare/general-healthcare/philippines-ophthalmology-market-outlook/238841-91.html

Key Segments Covered

By Types of Ailments (On the basis of Surgery Fee, Surgery Revenue and Number of Surgeries)

• Cataract
• Refractive Error
• Glaucoma
• Retina Related Diseases
• Others

By Regions (On the basis of Average Consultation Fee, Number of Single Specialty Eye Clinics/Hospitals and Consultation Revenue)

• National Capital Region (NCR)
• Calabarzon
• Ilocos Region
• Central Visayas
• Davao Region
• MIMAROPA
• Central Luzon
• Cagayan Valley
• Western Visayas
• Zamboanga Peninsula
• Northern Mindanao
• Bicol Region
• Caraga Region
• SOCCSKSARGEN
• Cordillera Administrative Region
• Eastern Visayas
• Autonomous Region in Muslim Mindanao

Key Target Audience

• Single Specialty Hospitals
• Multi Specialty Hospitals
• Eye Clinics
• Ophthalmologist
• Medical Devices Companies
• Government Organizations
• Non- Profit Organizations
• Non- Governmental Organizations

Time Period Captured in the Report:

• Financial Year 2013-2018 – Historical Period
• Financial Year 2019 Onwards – Future Forecast

Companies Covered:

• Galileo Eye center
• Asian Eye Institute
• The American Eye centre
• Clinica Tamesis Eye Center
• Perfect Sight
• Roque eye clinic
• Manila Retina Specialist
• Larrazabal Eye
• Novagen Eye Center
• Peregrine Eye and Laser Institute
• Shinagawa Lasik and Aesthetics

Key Topics Covered in the Report

• Philippines Ophthalmology Market Ecosystem
Philippines Ophthalmology Market Revenue Streams
• Philippines Ophthalmology Market Size on the Basis of Number of Consultations, Number of Surgeries, Consultation Revenue and Surgery Revenue, FY’2013 – FY’2018
• Philippines Ophthalmology Market Segmentation by Region (National Capital Region (NCR), Calabarzon, Ilocos Region, Central Visayas, Davao Region, MIMAROPA, Central Luzon, Cagayan Valley, Western Visayas, Zamboanga Peninsula, Northern Mindanao, Bicol Region, Caraga Region, SOCCSKSARGEN, Cordillera Administrative Region, Eastern Visayas, Autonomous Region in Muslim Mindanao)
• Philippines Ophthalmology Market Segmentation by Ailment Type (Cataract surgery, Glaucoma surgery, Refractive error surgery, other retina related surgeries and others)
• Regulations in Philippines Ophthalmology Market
• Competitive Scenario of Philippines Ophthalmology Market
• Success Case Studies (Dr Agarwal’s Eye Hospital, Aravind Eye Care, Centre For Sight and AIER Eye Hospital Group)
• Market Share of Major Players in Philippines Ophthalmology Market
• Company Profile of Major Players in Philippines Ophthalmology Market
• Future Outlook and Projections in Philippines Ophthalmology Market (FY’2019 – FY’2023)
• Analyst Recommendations

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Contact Us:
Ankur Gupta, Head Marketing
Ken Research Private Limited
Ankur@kenresearch.com
+91-9015378249

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