Philippines Clinical Laboratory Market is forecasted to grow 1500 USD Mn by 2027: Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit 1. Rapid Urbanization, growing GDP, Ease of doing business, increasing healthcare budget and Improvement in quality of life is contributing towards growth of the industry. Clinical Laboratory Market in Philippines was increasing at a steady rate of 2 to 3% before 2020. Then due to covid-19 pandemic, there is a spike of 50% in revenue. Due to covid-19, the covid-19 tests spiked and a large chunk of the revenue in 2021 and 2022 came from covid-19 tests which are quite costly too as compared to other tests. The industry grew at a compounded annual growth rate of 5.16% from 2017 to 2022. Rapid Urbanization, increasing GDP, ease of doing business, increasing healthcare budget and improvement in quality of life is contributing towards growth of the industry. 2. Over-Regulation, migration of workers, expensive tests among others are some challenges in the industry. For more information, request a free sample Poor Internet: Philippines is a country with one of the slowest internet speeds in the world. Additionally, the cost of internet is also high in Philippines. A 2020 Digital Quality of Life Index ranked the Philippines 82nd in terms of internet affordability out of 85 countries. Brain Drain: Filipinos are well educated and skilled but a lot of health workers migrate to other countries which leads to dearth of health workers in Philippines. Lack of Affordability: Universal Health Policy is still a Blackbox for many people. Various healthcare tests are still very expensive for people that they prefer to not get tested as cost of getting sick is high and people can’t afford it. 3. There are various growth drivers like Universal Healthcare coverage and technological advancements in the industry which can open up various untapped opportunities in the industry. To more about industry trends, request a free expert call Government is increasing it Healthcare budget every year which is promoting this industry. Additionally various countries are also providing assistance in Philippines Healthcare sector. PPP Model is common in healthcare segment of Philippines. After the pandemic, it has become more prevalent due to cash crunch. E-Health is emerging in Philippines especially after the pandemic. More number of patients can be catered through online mode. It reduces paper work, errors and makes it easier to create awareness. Healthcare industry in Philippines is gradually adopting advance technologies to automate the procedures and to diagnose and treat complex health issues. Health Technology Assessment Council (HTAC) has been formulated to perform technology assessment from time to time. 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