Philippines Healthcare IT Spending to Reach US$60 Million in 2019, Says IDC Health Insights
Manila, February 19, 2016 – International Data Corporation (IDC) Health Insights recently estimated the healthcare IT spending in Philippines will reach US$60 million in 2019, growing with a compound annual growth rate of 4% during 2016 to 2019.
In a recent published IDC research titled Philippines: Healthcare IT Spend Market Analysis, Forecasts and Trends, findings showed that the largest spending group in health IT is the healthcare providers market including hospitals with 88% share in 2015.
In the same year, spending on the hardware segment is the highest at 79% share, with services and software spending ranked the second and third places, clearly indicating the country's current priority is focused on upgrading existing IT infrastructure. This is consistent with many other countries in the ASEAN region.
"The primary macroeconomic indicators driving growth in the country include upheaval of infrastructure in healthcare and education services and a growing number of private hospitals in the Philippines. These indicators will bolster the IT spending growth in the Philippines healthcare market," says Arpana Bharti, Market Analyst, IDC Health Insights.
At present, spending on healthcare IT is still limited, with clear disparities between the private and the public sectors. The private sector, which aims for medical tourism impetus, is the leader when it comes to IT adoption. Meanwhile, IT spending in the public sector is still centered on developing hardware infrastructure as the government aims to make existing health services more accessible, added Jubert Daniel Alberto, Head of Operations in IDC Philippines.
The primary focus for both public and private healthcare institutions is to bridge health disparities between the urban and rural populations in the Philippines. Private hospitals will move toward an "intensity of care" delivery model that will require new physical environments, processes reorganization, and an overhaul of existing ICT structures that will aid growth.
According to IDC, mobility solutions, tele-health and CRM solutions will be the key needs the market will look for from tech vendors.
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About IDC Health Insights
IDC Health Insights assists health businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the payer, provider and life science industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world's leading technology, media, research, and events company. For more information, please visit www.idc-hi.com, email email@example.com, or call 508-988-7900. Visit the IDC Health Insights Community at https://idc-community.com/health.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a subsidiary of IDG, the world's leading technology media, research, and events company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC