UnaPharma, a digital medicine marketplace launched in July, is gearing up for the acceleration of e-health in the country industries are looking at a post-pandemic era. The gains of digitalization during the lockdowns will have a carry over effect as consumers realized the convenience of digitalization.
Quoting Statista, UnaPharma said the Philippine Digital Health market is valued at $684 million (the 2022 revenue), with 12.7% growth potential for 2022-2027.
According to UnaPharma, the supply of e-Health services in the country is growing very rapidly, with a favorable regulatory environment which is a contributing factor to the development of the sector. This includes more recent IT solution examples supported by both foreign and local companies.
“This pace can be maintained thanks to the above-mentioned factors, as well as a few others,” the company said. “These include: the inevitable influence of the wellness solutions segment (which directly stimulates the development of e-Health solutions), the rise of the Philippines as a destination for health tourism (with the potential to increasingly become more online-based), and the coordinated efforts of non-profit organizations.”
Still, the formation of a full-fledged national digital economy will remain the main factor of influence. The e-Health sector will also stimulate the development of the ever growing digital economic infrastructure, with UnaPharma being a prime example of an innovative digital space.
“While we see a certain level of attention to telemedicine, with the Department of Health featuring a special section on their website with accredited telemedicine providers, we see only a handful of pharmacies fully embracing online,” said Alexander Goriainov, the CEO of UnaMarket. “UnaPharma’s platform will allow pharmacies to reach customers more efficiently and in turn, assist in developing the market as a whole by improving access to medicine and making them more affordable.”
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