Fifty companies from 15 European Union (EU) Member States, mostly from the healthcare and medical technologies industries will travel to the Philippines this September for a business mission to look into the possibility of bringing innovative technologies to the country.
The mission, under the EU Business Avenues in South East Asia programme, focuses on Healthcare and Medical Technologies and will showcase solutions such as Medical Waste Management, Laboratory Equipment, Aesthetic/Cosmetic Equipment, Dental Products and Supplies, Pharmaceutical Supplies and Disposables, IT Solutions, Telemedicine and Remote Health Monitoring, Assistive Technologies, Pain/Rehabilitation Equipment, Imaging and Non-imaging Diagnostic and other technologies.
Supported by the Philippine Board of Investments (BOI), the country’s lead industry development and primary investment promotion agency, the Philippine leg of the business mission will be held from 3-5 September 2018 at the Shangri-La The Fort in Taguig City.
The programme aims to help EU companies to understand the Philippines healthcare and medical technologies market and provide them a platform to establish partnerships with Filipinos through coaching, business matching and business support services.
Trade Undersecretary for Industry Development and BOI Managing Head Ceferino Rodolfo said the agency is supportive of the EU Healthcare and Medical Technologies business mission “as this complements the effort of the local health services industry to develop and promote the country as a medical travel, wellness tourism, and as a retirement destination in Asia.”
The Undersecretary also added that “the government supports the manufacturing medical devices and supplies as the country presents great opportunities in the field with the presence of over 2,000 government and private hospitals and over 23,000 health units and stations all over the country.”
Data from the Med Tech Europe website showed that the EU serves as one of the largest sources of medical device products in the world with almost 25,000 companies manufacturing and distributing medical devices for various uses, including in-vitro diagnostics, cardiology, orthopedics, diagnostic imaging, ophthalmics, surgery, endoscopy and wound management, among others.
The South East Asia (SEA) region can benefit from these technologies and developments as the region faces similar medical challenges due to its greying population. Specifically in Philippines, it is expected that percentage of elderly above 65 years old will grow to 4.9 percent by 2020 and 6.3 percent by 2030, information from the Med Tech Europe website further showed.
EU Ambassador Franz Jessen said, “The Philippines healthcare sector is experiencing exciting developments. The government is focused on improving the delivery of public healthcare to its citizens, evident in the increase in the health budget, the remarkable membership coverage under the National Health Insurance Programme (PhilHealth) and the progress in key legislations for social services including health. The EU remains committed in supporting the Philippines in its healthcare agenda through various programmes, trade and investment.”
In 2017, total trade in healthcare, medical technologies and other related goods reached more than €1.1 billion which could easily grow more, benefitting both markets. Ambassador Jessen added that it is timely that the EU Business Avenues programme is leading a business mission in Healthcare and Medical Technologies to Philippines this September. He added
that local counterparts can take this opportunity to learn more about the innovative technologies from Europe and discuss possibilities for collaboration.
Further details on the mission may be found at the program’s official website at: https://www.eubusinessavenues.com/. ♦
Date of Release: 5 September 2018