Philippines’s Electronic Medical Records Industry Growth | Opportunities and Upcoming Projects
Market Entry - Electronic Medical Records Industry in Philippines: Analysis of Growth, Trends and Progress (2016 - 2021)

PUBLISHED

DEC 2017

Market Entry - Electronic Medical Records Industry in Philippines: Analysis of Growth, Trends and Progress (2016 - 2021)

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About the Market

The rise in diseases, demand for quality care by patients and the increasing number of hospitals and clinics are paving the way for the overall growth of the global electronic medical record technology. The advent of integrated healthcare services delivery platform with the help of EMR technology has led to the wide popularity of EMR software among hospitals and clinics. Currently, electronic medical record technology is widely used in North America due to the various initiatives taken by the government in the region through ‘The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009’, which directed the Office of the National Coordinator (ONC) for Health Information Technology to promote the adoption and meaningful use of electronic medical records in the region. Also, there is an incentive plan for hospitals and clinics in the U.S. for facilitating the ‘meaningful use’ of EMR technology. The developed nations of North America EMR market is followed by the Western Europe market as numerous players are expected to enter the North American market over the forecasted period. The emerging regions of Asia-Pacific are expected to be the next lucrative market for EMR companies. Some of the key players identified in the global electronic medical record market report include Cerner Corp, McKesson Corporation, Medical Information Technology Inc., Epic Systems Corporation, NextGen Healthcare Information Systems LLC, Greenway Health LLC and GE Healthcare.

About the Geography                  

The Philippines is one of the largest markets in Southeast Asia with an estimated 103 million people and ruled by a presidential democratic republic. With the 12th largest population and the 30th largest economy, there is certainly scope for development, as it has grown from being an agriculture-based toservices-based economy in the early 21st-century.

In comparison to its neighbors like Indonesia, Malaysia, and Thailand, Philippines have failed to meet expectations in terms of the volume of FDI. However, recent economic resurgence brought about by strong and consistent economic growth since 2010, new anti-corruption measures and credit rating upgrades have improved their international reputation and created a new impetus for attracting FDI’s into the country. The Aquino government helped with this by the passage of laws to liberalize the entry of foreign banks into the country, relaxing the Cabotage law allowing foreign vessels to ply import and export within the archipelago. The Customs Tariff and Modernization Act of 2016 to meet international standards, reflects efforts of the nation towards increasing FDI.

In spite of all this, the World Bank ranked the Philippines at the 103rd place (out of 185 economies) for ease of doing business. The major challenges for doing business include bureaucracy, corruption, restrictions on ownership of land by foreign companies, and restrictions on investment in certain sectors. The islands of Philippines are strategically placed among high growth countries like Mainland China, Malaysia, and Singapore, which makes it easier for export to these Asian countries. Also, a large English-speaking population and strong services sector are factors that make the Philippines an obvious choice for companies looking to take advantage of the low domestic wages and an educated workforce.

Component Name

Unit

From Site

GDP

USD billion

291.97

GDP Annual Growth Rate

%

7

GDP Per Capita

USD

2635.04

Employment Rate

%

94.6

Wages

USD/Month

170.436

Inflation Rate

%

2.3

Consumer Price Index (CPI)

Index Points

144.6

Interest Rate

%

3%

Loans to Private Sector

USD million/billion

100,555.083 million

Balance of Trade

USD million/billion

(-2.02 billion)

Business Confidence

(No Units)

45.4

Manufacturing PMI

Index Points

57.5

Ease of Doing Business

(No Units)

103

Competitiveness Rank

(No Units)

57

Corruption Rank

(No Units)

95

Consumer Confidence

(No Units)

2.5

Consumer Spending

USD million/billion

28,784.38 million

Bank Lending Rate (Consumers)

%

5.68

Corporate Tax Rate

%

30

Sales Tax Rate

%

12

                                                                                                                                                         

The Market Entry Series

Exploring global markets is now recognized as the shortest way to ensure high time to efficiency conversion, when trying to expand revenues past domestic markets, for firms both large and small. Our market entry series, priced suitably low contains the essentials of all the parameters (Refer: Table of Contents) you must be apprised of before you can have a well informed contemplation of a business opportunity in your choice of industry, in your choice of geography.

 

1. Introduction

            1.1 Report Description

            1.2 The Country

            1.3 Definition of the Market

            1.4 Research methodology

2. Executive Summary

3. Key Findings of the Study

4. Market Overview

            4.1 Introduction

            4.2 Market Entry Objectives

            4.3 Types of Entry Modes

            4.4 Factors Influencing the Choice of Market Entry Mode

            4.5 Market Entry Strategy Framework

            4.6 Market Segmentation

5. Market Dynamics

            5.1 Drivers

            5.2 Business Challenges/Restraints

            5.3 Business Opportunities

            5.4 Product Life-Cycle

            5.5 Industry Attractiveness – Porter’s 5 Force Analysis

            5.6 Industry Value Chain Analysis

6. Market Entry Parameters

            6.1 Industry Policies & Government Regulations

                        6.1.1 Govt. policies related to foreign investments

                        6.1.2 View on Govt. policies

            6.2 Competitive Analysis

                        6.2.1 Domestic

                                    6.2.1.1 Domestic competitive environment

                                    6.2.1.2 Domestic  Players Profiles and Their Market Share

                                    6.2.1.3 Major Products

                                    6.2.1.4 SWOT Analysis of Major Domestic PlayerS

                                    6.2.1.5 Upcoming Domestic Companies

                                    6.2.1.6 Recent deals

                        6.2.2 Foreign

                                    6.2.2.1 Foreign players Profiles and Their Market Share

                                    6.2.2.2 Major Products

                                    6.2.2.3 SWOT analysis of Major Foreign Players

                                    6.2.2.4 Upcoming Foreign Companies

                                    6.2.2.5 Recent deals

            6.3 Consumer/Customer Behavior Patterns

                        6.3.1 Segmentation -Socio/Economic

                        6.3.2 Behaviour

                        6.3.3 Spending Pattern

                        6.3.4 Target market

                        6.3.5 Seasons

                        6.3.6 Demographic Strength/Weakness

            6.4 Supply Chain Analysis

                        6.4.1 Raw Material Suppliers

                        6.4.2 OEMs

                        6.4.3 Others

7. Risk Analysis

                        7.1.1 Weather/ Natural Risk

                        7.1.2 Systemic Risk

                        7.1.3 Sovereign Risk

                        7.1.4 Liquidity Risk

                        7.1.5 Legal Risk

                        7.1.6 Foreign-Exchange Risk

8. Market Entry Strategy

            8.1 Target Market Identification

            8.2 Identify Target Offering

            8.3 Pricing Strategy

            8.4 Product Adaptation Strategy

            8.5 Technical Innovation Strategy

            8.6 Marketing Collateral

9. Market Roadmap To 2020

10. List of Figures

11. List of Tables

12. Abbreviations

13. Works Cited

14. Disclaimer

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