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Philippine's Medical Device Industry grew at a CAGR of 9.6%

Press Release   •   Jan 30, 2016 14:11 IST

Philippines dental care market has been classified on the basis of product categories which include dental care services, dental equipments and oral care. The largest revenue contributing segment to the overall market was dental care services, which contributed a share of 74.2% in 2009 and 83.6% in 2014.

Philippines has been majorly dependant on imports of dental equipments and consumables from markets such as China, Germany, Singapore, Japan, the US and South Korea amongst others. China has been the largest exporting market for dental equipments and consumables for the Philippines during the review period. The availability of reasonable quality products at low prices has made China an attractive import partner.

The dental care market majorly generates revenue from the fee charged by the clinics for diagnosis and treatment of dental problems. The rising number of dental issues being faced by the population of Philippines along with the rising trend of dental tourism in the country has enabled this market segment to continue its dominance over the revenues during 2009-2014.

The Philippines dental care services has perceived a strong CAGR of 14.7% during the review period 2009-2014. Owing to a number of factors such as increasing population of elderly people, rise in healthcare expenditure and rise in awareness

Dental equipments and consumables are an indispensible part of the medical device market as well as the dental care market. Dental equipments constituted to a significant 9.2% of the revenues of Philippines medical devices market during the year 2014. The dental equipment and consumables which are commonly employed for the dental diagnosis and surgical procedures include dental chairs and related equipments, dental lasers, dental drills and dental consumables.

The Philippines oral care market has been experiencing a transformation owing to increasing awareness for oral health and hygiene. Apart from dental carries and gum diseases, bad breath is a major concern amongst the Filipinos. An increase in ageing population along with the rising demand for oral care has led to various product innovations and development by the oral care companies. The market for oral care in the Philippines has been majorly dominated by global players such as Colgate Palmolive, Unilever, P&G and GlaxoSmithKline (GSK).

For more information on the market research report please refer to the below mentioned link:

Source: https://www.kenresearch.com/healthcare/general-healthcare/philippines-dental-care-market-report/5632-91.html

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