Philippines Ophthalmology (Eye Centers, Clinics and Hospital Chains) Market Outlook to 2023 : Ken Research

New Delhi, August 06, 2019: The report titled “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” provides a comprehensive analysis of Philippines Ophthalmology Market including market introduction, market ecosystem, revenue streams, market size and market segmentations. Extensive focus has been placed in quantifying the market size of this industry by number & revenue generated by eye care consultation and number & revenue generated by eye care surgeries. The report covers aspects such as market segmentation by region on the basis of number of single specialty eye hospitals/clinics, number of consultation, average consultation fee and revenue from consultation and also by ailment type on the basis of number of surgeries, fee for surgeries and revenue generated by surgeries.  Competitive landscape of major players including Asian Eye Institute, American Eye Center, Perfect Sight, Galileo Surgicenter, Peregrine Eye and Laser Institute, Clinica Tamesis, Larrazabal Eye, Manila Retina Specialist, Novagen Eye Center, Roque Eye Clinic and Shinagawa Lasik and Aesthetics have been extensively covered mentioning company overview, major business strategies, USP, key services offered, recent developments, revenue and market share and other key operational factors. The report also covers future industry analysis (by number of consultation, number of surgeries, revenue from consultation and revenue from surgeries), upcoming business models, government regulations and analyst recommendations. The report is useful for existing eye hospitals and clinics, potential entrants, investors and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.

Philippines Ophthalmology Market Executive Summary

Market Size: Ophthalmology market has witnessed positive growth in number of consultations, number of surgeries, revenue from consultation and revenue from surgeries in the past five years due to increasing old age population, increasing exposure to electronic devices, increasing diabetic population and increasing air pollution. Many NGOs have taken up the responsibility of spreading awareness about eye health. Eyes Mo, Care Mo celebrated Philippines’s first ever National Eye Care Awareness Month that was dedicated to spread awareness about causes and ways to fight eye related issues. Major constraints faced by the ophthalmology market have been high operational cost, difficulty in ease of doing business, complicated government policies and shortage of ophthalmologist. Philippines Ophthalmology Market is growing at promising rate currently placed in growth  stage. Government’s National Health Insurance program’s coverage increased from 75% in 2012 to 93% in 2018 and is expected to increase at a faster rate in future.

Market Segmentation

By Region (National Capital Region, 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): Metro Manila and Calabarzon have been preeminent regions accounting for the maximum number Single Specialty Eye Hospitals/Clinic and highest shares in Consultation Revenues. These regions have the highest average consultation fee in 2018 primarily owing to high cost & standard of living. These are followed by Ilocos Region, Central Visayas and Davao Region which account for a meager share in terms of consultation revenue. However, the situation is likely to change as numbers of clinics in these regions are expected to grow in the next 5 years. Hence, there is huge scope of future expansion for industry players in these areas. Difference in average consultation fees between NCR and Eastern Visayas is of close to PHP 600 per visit.

By Ailment Type (Cataract Surgery, Glaucoma Surgery, Refractive Error Surgery, Other Retina Related Surgeries and Others): Cataract is the most demanded surgery in the Ophthalmology sector of Philippines. It contributes more than 50% to the surgery revenue and majority to consultation revenue in 2018. Expected tailwinds were increase in the number of diabetic patients in the country, rising air pollution and rapid surge in ageing population in the country. Increasing exposure to the electronic devices and changing lifestyle has lead to refractive error being the second most prevalent eye ailment. Retina related surgeries followed by Glaucoma have been the third and fourth highest surgery revenue streams respectively in 2018.

Competitive Landscape

Competition Scenario: Competition in Philippines Ophthalmology market is highly fragmented with about 150-200 Single Specialty Eye Hospitals and Clinics providing eye examinations and various kinds of eye surgeries. In 2018, Galileo Surgicenter, Asian Eye Institute, American Eye Center, Clinica Tamesis, Perfect Sight and Roque Eye have been the major players in terms of consultation revenue. Asian Eye Institute, Novagen Eye Clinic, Larrazabal Eye, Peregrine Eye and Laser Institute have the maximum number of branches in Philippines. 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.

Future Analysis and Projections: 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.

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

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 2019-2023– 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, 2013-2018

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 (2018-2023)

Analyst Recommendations

For more information on the research report, refer to below link:

Philippines Ophthalmology Market Research Report

Corporate Comm India (CCI Newswire)