Almost any U.S product or service can find an interested buyer in the Philippines. The U.S exports almost $7 million annually to the country making this country our 30th largest export market.
Medical device distributors expect a steady five percent growth through 2017. The medical industry in the Philippines is almost totally dependent on imports and the medical equipment sector continues to provide good opportunities for American firms. The U.S market share for imported medical devices is almost 25 percent.
U.S trained Filipino doctors prefer the high technology American medical technology and instruments, despite their higher costs. However, American brands face increasing third country competition from China, Singapore, Germany, and South Korea.
Several Philippine investment companies/private corporate groups have taken an interest in healthcare and have acquired stakes in the healthcare sector, providing much needed capital for facilities to upgrade and modernize equipment.
In addition to private investment, the government’s Public-Private Partnership (PPP) program supports the construction and modernization of public hospitals which includes the requirement for expensive linear accelerators, dialysis machines, and radiotherapy equipment. Twenty five public hospitals listed in the PPP program expect to benefit from PPP’s capital infusion to help modernize their facilities.
For more information, go to www.export.gov/philippines/eg_ph_030640.asp.