Market Overview
The healthcare insurance market in the Philippines displays steady expansion in terms of value, and this positive trajectory is expected to continue over the coming years. As of 2023, the market was valued at approximately USD 5.1 billion. Looking ahead, the market is projected to experience a compound annual growth rate (CAGR) of 8.5% from 2024 to 2032.
Several key factors drive this robust growth. The rising population, expanding middle class, and increasing health awareness among individuals are spurring demand for health insurance policies across the country. With escalating healthcare costs, the importance of insurance protection is likely to become more pronounced moving forward.
This dynamic landscape offers considerable opportunities for both existing and emerging insurance providers in the Philippines to develop innovative products that serve currently underserved segments of the large population. In summary, the optimistic outlook underlines the significant potential and importance of the Philippine healthcare insurance market over the next decade.
The Philippine healthcare insurance industry is a fast-changing industry impacted by domestic and global health policies, economic factors, and technological innovations. The Philippine healthcare insurance landscape comprises a mixture of public and private insurance programs, with the Philippine Health Insurance Corporation (PhilHealth) constituting the cornerstone of the public system. The market is experiencing formidable expansion, fueled by mounting healthcare expenses, growing cognizance of health insurance, and government initiatives to realize universal health coverage.
The population’s intensifying demand for superior healthcare services, along with the rising prevalence of chronic diseases, has highlighted the need for comprehensive healthcare insurance solutions. The private sector complements the public insurance system by providing diverse plans catering to different segments of the population, including corporate employees, families, and individuals seeking more extensive coverage and additional benefits beyond those furnished by PhilHealth.
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Key market drivers
The growth of the Philippine healthcare insurance market is driven in large part by the government’s commitment to expanding universal health coverage. Legislative measures such as the Universal Health Care Act aim to ensure comprehensive healthcare access for all Filipinos without financial hardship. Achieving this goal requires substantial collaboration between public and private insurance providers, fostering an environment conducive to market expansion.
Increasing healthcare expenditure and economic growth trends also catalyze market development. Rising disposable incomes have led more individuals and families to invest in robust health insurance safeguards against medical emergencies and escalating healthcare expenses. This demand is further bolstered by the expanding middle class, which views insurance as a necessary means of health protection.
Other factors contributing to market growth include rising healthcare costs outpacing inflation and wages, making coverage vital to defray medical expenses; increases in lifestyle diseases due to sedentary lifestyles and poor diets, expanding the need for chronic illness coverage; government healthcare reforms expanding nationwide insurance enrollment; a growing middle class with more discretionary income to purchase policies; and insurance regulation reforms fostering product innovation, competitive pricing, and further propelling demand.
Key market restraints
Affordability and Awareness Issues:
Despite the growth potential, the market faces challenges related to affordability and awareness. A significant portion of the population remains uninsured or underinsured, primarily due to the perceived high cost of insurance premiums and a lack of understanding of the benefits of having health insurance. Efforts to educate the population and make health insurance more accessible and affordable are crucial for overcoming these barriers and expanding the market’s reach.
Market Opportunities
- The thrust towards digital transformation represents a significant opportunity for insurance companies to redefine their operational models. By leveraging cutting-edge technology, companies can streamline their processes, significantly improving efficiency and reducing operational costs. This digital shift not only enhances the customer experience through seamless service delivery but also enables the creation of personalized insurance products. Tailoring products to meet individual customer needs can lead to increased customer satisfaction and loyalty, thereby opening new revenue streams.
- There is a growing market for microinsurance products designed with low-income households in mind. These products offer affordable, low-premium insurance solutions that cover a range of risks, from health to property. Developing such products can tap into a vast market segment traditionally underserved by conventional insurance models. By providing financial protection against unforeseen events, insurance companies can foster financial inclusion and build a loyal customer base in these communities.
- Collaborating with healthcare providers, such as hospitals and clinics, offers a unique opportunity for insurance companies to integrate healthcare and insurance services. These partnerships can lead to the creation of comprehensive health insurance packages that provide customers with more value, including easier access to medical services and potentially lower health insurance costs. Such integrated services can enhance the overall healthcare experience for consumers, making insurance policies more attractive and competitive in the market.
- Incorporating wellness and preventive care programs into insurance packages is an innovative way to reduce long-term healthcare costs. By encouraging and incentivizing healthy living and regular health check-ups, insurance companies can decrease the likelihood of chronic diseases and high-cost medical treatments among their insured populations. This not only benefits the health and well-being of customers but also contributes to the sustainability of the insurance business model by controlling costs.
- Focusing on rural and underserved areas presents a considerable opportunity for growth. In many regions, insurance penetration is remarkably low, often due to a lack of awareness, trust, or access to insurance products. By deploying targeted strategies to reach these populations, such as through mobile technology platforms or local partnerships, insurance companies can expand their market presence. This expansion not only drives revenue growth but also plays a crucial role in enhancing financial protection and resilience among underserved communities.
Interesting Facts About the Market
- The Philippines has one of the highest rates of out-of-pocket healthcare expenditures in Asia.
- PhilHealth covers a vast majority of the population, but often with limited benefits.
- Private health insurance is seen as a supplement to PhilHealth rather than a replacement.
- The use of digital platforms for insurance transactions is on the rise.
- There is a growing focus on preventive healthcare to reduce the burden of chronic diseases.
- The COVID-19 pandemic has significantly increased awareness and demand for health insurance.
- Telemedicine and digital health services are becoming integral parts of insurance packages.
- The government is actively encouraging the private sector to participate in achieving universal healthcare.
- Health insurance for overseas Filipino workers is a significant market segment.
- Regulatory changes and reforms are expected to shape the future landscape of health insurance in the Philippines.
Top Key Players
- Philippine Health Insurance Corporation (PhilHealth)
- Sun Life of Canada (Philippines), Inc.
- AXA Philippines
- Pru Life UK
- Manulife Philippines
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Competitive Landscape
The competitive landscape of the Philippine healthcare insurance market is characterized by the presence of a mix of local and international insurance companies. PhilHealth plays a dominant role in providing basic coverage to the population, while private insurers offer additional and more comprehensive health insurance products. The market is competitive, with insurers striving to differentiate their offerings through value-added services, digital solutions, and customer-centric products. Collaboration between the public and private sectors is also a key trend, aiming to enhance the overall efficiency and coverage of healthcare insurance in the country.
Regional Analysis
The healthcare insurance market in the Philippines exhibits regional disparities in terms of coverage, access to healthcare services, and insurance penetration. Urban areas, particularly Metro Manila and surrounding regions, have higher insurance coverage rates and better access to healthcare facilities. In contrast, rural and remote areas face challenges such as lower insurance penetration, limited access to healthcare providers, and a lack of awareness about insurance products. Addressing these regional disparities is crucial for achieving universal health coverage and ensuring equitable access to healthcare services across the country.
Segmentations
- By Type of Insurance:
- Private health insurance
- Public/Government Health Insurance
- Critical Illness Insurance
- Others (accidents, disabilities, etc.)
- By Service Provider:
- Private Companies
- Public/Government Agencies
- Non-Profit Organizations
- By Coverage Type:
- Individual Plans
- Family/Floater Plans
- Group Insurance Plans
- By Distribution Channel:
- Direct Sales
- Brokers/Agents
- Online Channels
- Banks (Bancassurance)
- By End User:
- Adults
- Senior Citizens
- Minors
- By Region:
- National Capital Region (NCR)
- Luzon (excluding NCR)
- Visayas
- Mindanao
- By Application:
- Inpatient Care
- Outpatient Care
- Maternity
- Dental Care
- Others (emergency services, optical, etc.)
Future Outlook
- The market is expected to continue growing, driven by governmental reforms, economic growth, and increasing health consciousness among the population.
- Digital innovation will play a crucial role in expanding access and improving the efficiency of healthcare insurance services.
- There will be a greater focus on integrating preventive and wellness programs into health insurance plans.
- Collaboration between the public and private sectors will intensify to achieve universal health coverage goals.
- Microinsurance products are anticipated to gain popularity, targeting the lower-income segment of the population.
- Regulatory reforms will likely introduce more stringent requirements for insurance providers to ensure better consumer protection.
- The demand for health insurance products catering to specific needs, such as mental health and telemedicine, will increase.
- The market will see increased customization and personalization of insurance products.
- Health insurance for overseas workers will remain a key focus area.
- Technological advancements, such as AI and blockchain, are expected to revolutionize the administration and delivery of health insurance services.
Market Research Report Scope
- Market Dynamics: Analysis of current trends, drivers, restraints, opportunities, and challenges facing the healthcare insurance market in the Philippines.
- Segmentation Analysis: Detailed examination of market segments based on insurance type, end-user, provider type, and regional distribution.
- Competitive Analysis: Evaluation of the competitive landscape, including key players, market share, strategic initiatives, and product offerings.
- Regulatory Landscape: An overview of the regulatory framework governing healthcare insurance in the Philippines, including recent changes and their implications.
- Market Forecast: Projections for the future of the healthcare insurance market in the Philippines, highlighting expected growth areas, emerging trends, and potential market shifts.
This structured report provides a comprehensive analysis of the Philippine healthcare insurance market, combining current data, insightful analysis, and future projections to offer valuable insights for stakeholders, policymakers, insurers, and investors.
CHAPTER NO. 1 : INTRODUCTION……………………………………………………………….. 19
1.1.1. Report Description ………………………………………………………………………………………. 19
Purpose of the Report……………………………………………………………………………………………19
USP & Key Offerings………………………………………………………………………………………………19
1.1.2. Key Benefits for Stakeholders………………………………………………………………………… 19
1.1.3. Target Audience ………………………………………………………………………………………….. 20
1.1.4. Report Scope 20
CHAPTER NO. 2 : EXECUTIVE SUMMARY………………………………………………………. 21
2.1. Philippines Healthcare Insurance Market Snapshot ……………………………………………. 21
2.1.1. Philippines Healthcare Insurance Market, 2018 – 2032 (USD Million)……………………… 22
CHAPTER NO. 3 : PHILIPPINES HEALTHCARE INSURANCE MARKET – INDUSTRY ANALYSIS ……………………………………………………………………….. 23
3.1. Introduction 23
3.2. Market Drivers……………………………………………………………………………………………. 24
3.2.1. Growing Number of Daycare Procedures………………………………………………………….. 24
3.2.2. Increasing Healthcare costs……………………………………………………………………………. 25
3.2.3. Mandatory opting for health insurance……………………………………………………………. 26
3.3. Market Restraints………………………………………………………………………………………… 27
3.3.1. High cost of Insurance ………………………………………………………………………………….. 27
3.3.2. Inadequate Infrastructure……………………………………………………………………………… 28
3.4. Market Opportunities…………………………………………………………………………………… 29
3.4.1. Market Opportunity Analysis…………………………………………………………………………. 29
3.5. Porter’s Five Forces Analysis………………………………………………………………………….. 30
CHAPTER NO. 4 : ANALYSIS COMPETITIVE LANDSCAPE …………………………………… 31
4.1. Company Market Share Analysis – 2023…………………………………………………………… 31
4.1.1. Philippines Healthcare Insurance Market: Company Market Share, by Volume, 2023 .. 31
4.1.2. Philippines Healthcare Insurance Market: Company Market Share, by Revenue, 2023. 32
4.1.3. Philippines Healthcare Insurance Market: Top 6 Company Market Share, by Revenue, 2023 32
4.1.4. Philippines Healthcare Insurance Market: Top 3 Company Market Share, by Revenue, 2023 33
4.2. Philippines Healthcare Insurance Market Company Revenue Market Share, 2023 ……. 34
4.3. Company Assessment Metrics, 2023 ……………………………………………………………….. 35
4.3.1. Stars 35
4.3.2. Emerging Leaders………………………………………………………………………………………… 35
4.3.3. Pervasive Players…………………………………………………………………………………………. 35
4.3.4. Participants 35
4.4. Start-ups /SMEs Assessment Metrics, 2023 ………………………………………………………. 35
4.4.1. Progressive Companies…………………………………………………………………………………. 35
4.4.2. Responsive Companies…………………………………………………………………………………. 35
4.4.3. Dynamic Companies…………………………………………………………………………………….. 35
4.4.4. Starting Blocks ……………………………………………………………………………………………. 35
4.5. Strategic Developments………………………………………………………………………………… 36
4.5.1. Acquisitions & Mergers…………………………………………………………………………………. 36
New Product Launch……………………………………………………………………………………………..36
Philippines Expansion…………………………………………………………………………………………….36
4.6. Key Players Product Matrix……………………………………………………………………………. 37
CHAPTER NO. 5 : PESTEL & ADJACENT MARKET ANALYSIS ………………………………. 38
5.1. PESTEL 38
5.1.1. Political Factors…………………………………………………………………………………………… 38
5.1.2. Economic Factors ………………………………………………………………………………………… 38
5.1.3. Social Factors 38
5.1.4. Technological Factors …………………………………………………………………………………… 38
5.1.5. Environmental Factors………………………………………………………………………………….. 38
5.1.6. Legal Factors 38
5.2. Adjacent Market Analysis……………………………………………………………………………… 38
CHAPTER NO. 6 : PHILIPPINES HEALTHCARE INSURANCE MARKET – BY PROVIDER
SEGMENT ANALYSIS …………………………………………………………. 39
6.1. Philippines Healthcare Insurance Market Overview, by Provider Segment ……………… 39
6.1.1. Philippines Healthcare Insurance Market Revenue Share, By Provider, 2023 & 2032 … 40
6.1.2. Philippines Healthcare Insurance Market Attractiveness Analysis, By Provider………… 41
6.1.3. Incremental Revenue Growth Opportunity, by Provider, 2024 – 2032…………………….. 41
6.1.4. Philippines Healthcare Insurance Market Revenue, By Provider, 2018, 2023, 2027 & 2032 42
6.2. Public 43
6.3. Private 44
CHAPTER NO. 7 : PHILIPPINES HEALTHCARE INSURANCE MARKET – BY COVERAGE
TYPE SEGMENT ANALYSIS………………………………………………….. 45
7.1. Philippines Healthcare Insurance Market Overview, by Coverage Type Segment……… 45
PHILIPPINES HEALTHCARE INSURANCE MARKET, 2018 – 2032
7.1.1. Philippines Healthcare Insurance Market Revenue Share, By Coverage Type, 2023 & 2032 46
7.1.2. Philippines Healthcare Insurance Market Attractiveness Analysis, By Coverage Type .. 47
7.1.3. Incremental Revenue Growth Opportunity, by Coverage Type, 2024 – 2032 ……………. 47
7.1.4. Philippines Healthcare Insurance Market Revenue, By Coverage Type, 2018, 2023, 2027 & 2032 48
7.2. Life Insurance 49
7.3. Term Insurance …………………………………………………………………………………………… 50
CHAPTER NO. 8 : PHILIPPINES HEALTHCARE INSURANCE MARKET – BY END-USER
SEGMENT ANALYSIS …………………………………………………………. 51
8.1. Philippines Healthcare Insurance Market Overview, by End-user Segment……………… 51
8.1.1. Philippines Healthcare Insurance Market Revenue Share, By End-user, 2023 & 2032… 52
8.1.2. Philippines Healthcare Insurance Market Attractiveness Analysis, By End-user ……….. 53
8.1.3. Incremental Revenue Growth Opportunity, by End-user, 2024 – 2032 ……………………. 53
8.1.4. Philippines Healthcare Insurance Market Revenue, By End-user, 2018, 2023, 2027 & 2032 54
8.2. Individuals 55
8.3. Corporates 56
CHAPTER NO. 9 : PHILIPPINES HEALTHCARE INSURANCE MARKET – BY HEALTH
INSURANCE PLANS SEGMENT ANALYSIS ………………………………. 57
9.1. Philippines Healthcare Insurance Market Overview, by Health Insurance Plans Segment 57
9.1.1. Philippines Healthcare Insurance Market Revenue Share, By Health Insurance Plans, 2023 & 2032 58
9.1.2. Philippines Healthcare Insurance Market Attractiveness Analysis, By Health Insurance Plans 59
9.1.3. Incremental Revenue Growth Opportunity, by Health Insurance Plans, 2024 – 2032 …. 59
9.1.4. Philippines Healthcare Insurance Market Revenue, By Health Insurance Plans, 2018, 2023, 2027 & 2032……………………………………………………………………………………….. 60
9.2. Health Maintenance Organization (HMO) ………………………………………………………… 61
9.3. Preferred Provider Organization (PPO)…………………………………………………………….. 62
9.4. Exclusive Provider Organization (EPO)……………………………………………………………… 63
9.5. Point of Service (POS)…………………………………………………………………………………… 64
9.6. High Deductible Health Plan (HDHP) ……………………………………………………………….. 65
CHAPTER NO. 10 : PHILIPPINES HEALTHCARE INSURANCE MARKET – BY
DEMOGRAPHICS SEGMENT ANALYSIS………………………………….. 66
PHILIPPINES HEALTHCARE INSURANCE MARKET, 2018 – 2032
10.1. Philippines Healthcare Insurance Market Overview, by Demographics Segment ……… 66
10.1.1.Philippines Healthcare Insurance Market Revenue Share, By Distribution Channel, 2023
& 2032 67
10.1.2.Philippines Healthcare Insurance Market Attractiveness Analysis, By Distribution
Channel 68
10.1.3.Incremental Revenue Growth Opportunity, by Distribution Channel, 2024 – 2032 ……. 68
10.1.4.Philippines Healthcare Insurance Market Revenue, By Distribution Channel, 2018, 2023,
2027 & 2032 69
10.2. Minors 70
10.3. Adults 71
10.4. Seniors 72
CHAPTER NO. 11 : PHILIPPINES HEALTHCARE INSURANCE MARKET – PHILIPPINES
ANALYSIS ……………………………………………………………………….. 73
11.1. Provider 73
11.1.1.Philippines Healthcare Insurance Market Revenue, By Provider, 2018 – 2023 (USD
Million) 73
11.1.2.Philippines Healthcare Insurance Market Revenue, By Provider, 2024 – 2032 (USD
Million) 73
11.2. Coverage Type74
11.2.1.Philippines Healthcare Insurance Market Revenue, By Coverage Type, 2018 – 2023 (USD
Million) 74
11.2.2.Philippines Healthcare Insurance Market Revenue, By Coverage Type, 2024 – 2032 (USD
Million) 74
11.3. End-user 75
11.3.1.Philippines Healthcare Insurance Market Revenue, By End-user, 2018 – 2023 (USD
Million) 75
11.3.2.Philippines Healthcare Insurance Market Revenue, By End-user, 2024 – 2032 (USD
Million) 75
11.4. Health Insurance Plans …………………………………………………………………………………. 76
11.4.1.Philippines Healthcare Insurance Market Revenue, By Health Insurance Plans, 2018 –
2023 (USD Million) ………………………………………………………………………………………. 76
11.4.2.Philippines Healthcare Insurance Market Revenue, By Health Insurance Plans, 2024 –
2032 (USD Million) ………………………………………………………………………………………. 76
11.5. Distribution Channel…………………………………………………………………………………….. 78
11.5.1.Philippines Healthcare Insurance Market Revenue, By Distribution Channel, 2018 – 2023
(USD Million) 78
11.5.2.Philippines Healthcare Insurance Market Revenue, By Distribution Channel, 2024 – 2032
(USD Million) 78
PHILIPPINES HEALTHCARE INSURANCE MARKET, 2018 – 2032
CHAPTER NO. 12 : COMPANY PROFILES…………………………………………………………. 79
12.1. Philippine Health Insurance Corporation………………………………………………………….. 79
12.1.1.Company Overview ……………………………………………………………………………………… 79
12.1.2.Product Portfolio…………………………………………………………………………………………. 79
12.1.3.Swot Analysis 79
12.1.4.Business Strategy ………………………………………………………………………………………… 80
12.1.5.Financial Overview ………………………………………………………………………………………. 80
12.2. MediCard (AIA Philippines)……………………………………………………………………………. 81
12.3. Kaiser International (PHL)……………………………………………………………………………… 81
12.4. Maxicare (PHL)……………………………………………………………………………………………. 81
12.5. Caritas Health Shield (PHL) ……………………………………………………………………………. 81
12.6. KanMend 81
12.7. Singlife 81
12.8. Sun Life 81
12.9. PRU Life 81
List of Figures
FIG NO. 1. Philippines Healthcare Insurance Market Revenue, 2018 – 2032 (USD Million)………………….22
FIG NO. 2. Porter’s Five Forces Analysis for Philippines Healthcare Insurance Market ……………………….30
FIG NO. 3. Company Share Analysis, 2023 ……………………………………………………………………………………31
FIG NO. 4. Company Share Analysis, 2023 ……………………………………………………………………………………32
FIG NO. 5. Company Share Analysis, 2023 ……………………………………………………………………………………32
FIG NO. 6. Company Share Analysis, 2023 ……………………………………………………………………………………33
FIG NO. 7. Philippines Healthcare Insurance Market – Company Revenue Market Share, 2023 ………….34
FIG NO. 8. Philippines Healthcare Insurance Market Revenue Share, By Provider, 2023 & 2032 …………40
FIG NO. 9. Market Attractiveness Analysis, By Provider …………………………………………………………………41
FIG NO. 10. Incremental Revenue Growth Opportunity by Provider, 2024 – 2032……………………………….41
FIG NO. 11. Philippines Healthcare Insurance Market Revenue, By Provider, 2018, 2023, 2027 & 2032 ..42
FIG NO. 12. Philippines Healthcare Insurance Market for Public, Revenue (USD Million) 2018 – 2032……43
FIG NO. 13. Philippines Healthcare Insurance Market for Private, Revenue (USD Million) 2018 – 2032 ….44
FIG NO. 14. Philippines Healthcare Insurance Market Revenue Share, By Coverage Type, 2023 & 2032 ..46
FIG NO. 15. Market Attractiveness Analysis, By Coverage Type ………………………………………………………..47
FIG NO. 16. Incremental Revenue Growth Opportunity by Coverage Type, 2024 – 2032………………………47
FIG NO. 17. Philippines Healthcare Insurance Market Revenue, By Coverage Type, 2018, 2023, 2027 &
2032 ………………………………………………………………………………………………………………………..48
FIG NO. 18. Philippines Healthcare Insurance Market for Life Insurance, Revenue (USD Million) 2018 –
2032 ………………………………………………………………………………………………………………………..49
FIG NO. 19. Philippines Healthcare Insurance Market for Term Insurance, Revenue (USD Million) 2018
– 2032 ………………………………………………………………………………………………………………………50
FIG NO. 20. Philippines Healthcare Insurance Market Revenue Share, By End-user, 2023 & 2032 ………..52
FIG NO. 21. Market Attractiveness Analysis, By End-user…………………………………………………………………53
FIG NO. 22. Incremental Revenue Growth Opportunity by End-user, 2024 – 2032 ………………………………53
FIG NO. 23. Philippines Healthcare Insurance Market Revenue, By End-user, 2018, 2023, 2027 & 2032..54
FIG NO. 24. Philippines Healthcare Insurance Market for Individuals, Revenue (USD Million) 2018 –
2032 ………………………………………………………………………………………………………………………..55
FIG NO. 25. Philippines Healthcare Insurance Market for Corporates, Revenue (USD Million) 2018 –
2032 ………………………………………………………………………………………………………………………..56
FIG NO. 26. Philippines Healthcare Insurance Market Revenue Share, By Health Insurance Plans, 2023
& 2032……………………………………………………………………………………………………………………..58
FIG NO. 27. Market Attractiveness Analysis, By Health Insurance Plans …………………………………………….59
FIG NO. 28. Incremental Revenue Growth Opportunity by Health Insurance Plans, 2024 – 2032…………..59
FIG NO. 29. Philippines Healthcare Insurance Market Revenue, By Health Insurance Plans, 2018, 2023,
2027 & 2032……………………………………………………………………………………………………………..60
FIG NO. 30. Philippines Healthcare Insurance Market for Health Maintenance Organization (HMO),
Revenue (USD Million) 2018 – 2032 ……………………………………………………………………………..61
FIG NO. 31. Philippines Healthcare Insurance Market for Preferred Provider Organization (PPO),
Revenue (USD Million) 2018 – 2032 ……………………………………………………………………………..62
FIG NO. 32. Philippines Healthcare Insurance Market for Exclusive Provider Organization (EPO),
Revenue (USD Million) 2018 – 2032 ……………………………………………………………………………..63
PHILIPPINES HEALTHCARE INSURANCE MARKET, 2018 – 2032
FIG NO. 33. Philippines Healthcare Insurance Market for Point of Service (POS), Revenue (USD
Million) 2018 – 2032…………………………………………………………………………………………………..64
FIG NO. 34. Philippines Healthcare Insurance Market for High Deductible Health Plan (HDHP),
Revenue (USD Million) 2018 – 2032 ……………………………………………………………………………..65
FIG NO. 35. Philippines Healthcare Insurance Market Revenue Share, By Distribution Channel, 2023 &
2032 ………………………………………………………………………………………………………………………..67
FIG NO. 36. Market Attractiveness Analysis, By Distribution Channel………………………………………………..68
FIG NO. 37. Incremental Revenue Growth Opportunity by Distribution Channel, 2024 – 2032 ……………..68
FIG NO. 38. Philippines Healthcare Insurance Market Revenue, By Distribution Channel, 2018, 2023,
2027 & 2032……………………………………………………………………………………………………………..69
FIG NO. 39. Philippines Healthcare Insurance Market for Minors, Revenue (USD Million) 2018 – 2032….70
FIG NO. 40. Philippines Healthcare Insurance Market for Adults, Revenue (USD Million) 2018 – 2032 …..71
FIG NO. 41. Philippines Healthcare Insurance Market for Seniors, Revenue (USD Million) 2018 – 2032….72
List of Tables
TABLE NO. 1. : Philippines Healthcare Insurance Market: Snapshot ………………………………………………………21
TABLE NO. 2. : Drivers for the Philippines Healthcare Insurance Market: Impact Analysis………………………..24
TABLE NO. 3. : Restraints for the Philippines Healthcare Insurance Market: Impact Analysis……………………27
TABLE NO. 4. : Philippines Healthcare Insurance Market Revenue, By Provider, 2018 – 2023 (USD Million) .73
TABLE NO. 5. : Philippines Healthcare Insurance Market Revenue, By Provider, 2024 – 2032 (USD Million) .73
TABLE NO. 6. : Philippines Healthcare Insurance Market Revenue, By Coverage Type, 2018 – 2023 (USD
Million)…………………………………………………………………………………………………………………….74
TABLE NO. 7. : Philippines Healthcare Insurance Market Revenue, By Coverage Type, 2024 – 2032 (USD
Million)…………………………………………………………………………………………………………………….74
TABLE NO. 8. : Philippines Healthcare Insurance Market Revenue, By End-user, 2018 – 2023 (USD Million).75
TABLE NO. 9. : Philippines Healthcare Insurance Market Revenue, By End-user, 2024 – 2032 (USD Million).75
TABLE NO. 10. : Philippines Healthcare Insurance Market Revenue, By Health Insurance Plans, 2018 –
2023 (USD Million) …………………………………………………………………………………………………….76
TABLE NO. 11. : Philippines Healthcare Insurance Market Revenue, By Health Insurance Plans, 2024 –
2032 (USD Million) …………………………………………………………………………………………………….76
TABLE NO. 12. : Philippines Healthcare Insurance Market Revenue, By Distribution Channel, 2018 – 2023
(USD Million)…………………………………………………………………………………………………………….78
TABLE NO. 13. : Philippines Healthcare Insurance Market Revenue, By Distribution Channel, 2024 – 2032
(USD Million)…………………………………………………………………………………………………………….78
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About Author
Shweta Bisht
Healthcare & Biotech Analyst
Shweta is a healthcare and biotech researcher with strong analytical skills in chemical and agri domains.
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