Medical equipment distributor anticipates post-pandemic growth
Despite the challenges posed by the coronavirus disease 2019 (Covid-19) pandemic, one of the leading distributors of quality medical equipment to healthcare facilities across the country has remained resilient.
“We are proud to be at the forefront of the country’s fight against Covid-19 through the urgent distribution of much needed equipment,” said Virgilio Villar, chairperson of Medilines Distributors Incorporated, on Friday.
Medilines has been deploying a significant number of Covid-19-related equipment across the Philippines since the onset of the pandemic, despite strict lockdowns and varying protocols per locality, as an integral part of the country’s healthcare industry whose products are regarded as essential goods and services.
“However, whether there is a health crisis or not,” he says, “Medilines has always been essential.” “We believe that there will always be a demand for medical products, just as there will always be patients who require care.”
According to a recent independent study by Ken Research, healthcare expenditure increased from PHP489.1 billion in 2014 to PHP911.4 billion in 2020, representing a compound annual growth rate (CAGR) of 10.9 percent.
Healthcare spending is expected to rise at an 11.2 percent CAGR to PHP1.5 trillion by 2025, driven by a growing and aging population, rising incidences of diseases such as cancer and pneumonia, and increased government efforts to expand and modernize our healthcare facilities.
Villar stated that the company has a track record of outpacing its industry in terms of growth, and this trend is expected to continue regardless of whether the Covid-19 pandemic persists or not.
Medilines has a portfolio of world-class equipment from world-renowned brands such as Siemens Healthineers (Germany) for diagnostic imaging, B. Braun (Germany) for dialysis, and Varian (USA) for cancer therapy.
“Our goal has always been to provide Filipinos in need with world-class medical equipment, and this remains true in the current situation,” Villar said. “As the pandemic continues and beyond, we will remain steadfast in our commitment to make critical equipment available to primary care providers wherever they may be in the country.”