MANILA -- The European Union (EU) Business Avenues launched on Monday a healthcare and medical technologies business mission to showcase solutions on different challenges brought about by the growing elderly population in the country.
“This is an initiative of the European Union which will support European companies for going overseas market here in Southeast Asia. For a long time, we have done this in Japan and Korea, but now we’re also doing it here in the Philippines," European Commission Business Cooperation and Trade Partnership Instrument program manager Ellen Pedersen said in an interview with the Philippine News Agency (PNA).
Pedersen said their business mission group has gone to Singapore to understand the Southeast Asian region but they visited the country because they wanted to have more knowledge of the Philippine market.
She said they see a lot of potential in the country in line with Philhealth's objective to provide quality healthcare to all Filipinos.
“Your economic growth, your market is big, highest growth in the region. You have a policy about health care and a reformed process and you actually import to large extent solutions abroad. Seeing these on our side, there are so many parameters which makes it (Philippines) an interesting market,” she added.
The latest projections from the Commission on Population showed that the percentage of elderly above 65 years old is expected to grow 4.9% by 2020 and 6.3% by 2030.
Meanwhile, Europe's health care sector has developed due to the increase in their elderly population, making it a wellspring of solutions addressing the demands of the aging population such as diagnostic equipment for the detection of all kinds of diseases in their early stages, homecare devices, and remotely monitorable diagnostic equipment that enables telehealth.
"Digital outreach which is coming to the Philippines, this is one way where we can contribute to this so that the solutions do not become overly costly. This subject is something we can focus more on. We come up with e-health solutions because your infrastructure are coming in place," she said.
Pedersen added that the mission could help the country prioritize the use of information and computer technology in delivering health services and managing health systems effectively.
Some 50 companies from 15 EU member-states took part in the mission, exhibiting the latest innovations in medical waste management, pain rehabilitation, imaging and non-imaging diagnostics, information technology, assistive technology and telemedicine and remote health monitoring.
They also displayed modern equipment used in laboratories, aesthetic and cosmetic facilities and dental clinics.
"I don't think the European investors have any concerns about investing in the Philippines. All they see are opportunities. This is a great time for these businesses to see the right partners in your side," she said. (PNA)
