ACIF 2025 | The Philippines Long-Term Care Industry: Emerging Opportunities in a Market on the Move
The elderly population will triple, and so must our care facilities. The time to invest is now—before the market becomes too crowded and too costly to enter. — Delren Douglas, AgeCOPE President
This report is based on the keynote speech and exclusive interview with Dr. Miguel A. Ramos Jr., President and CEO of La Verna Aged Care and Dementia Village, delivered at the Asia Care Industry Forum (ACIF) during Cares Expo Taipei 2025. Drawing on Dr Ramos’s dual expertise as a policy advisor and industry pioneer, the article provides a comprehensive overview of the Philippines’ fast-changing long-term care (LTC) landscape — its market demand, emerging models, investment potential, and the systemic challenges shaping its future.
Market Overview: A Fragmented Yet Fast-Evolving Sector
The Philippines is entering a decisive demographic turning point. Life expectancy has risen from 50 years in 1950 to 72 years in 2024, and by 2030, one in ten Filipinos will be aged 60 or older. “The population of older persons is growing three times faster than the rest of the population,” noted Dr Miguel A. Ramos Jr., President and CEO of La Verna Aged Care and Dementia Village. “Aging is not a future problem — it is a present challenge.”
Yet this aging milestone arrives amid persistent poverty and inequality. Many older adults are living longer but with limited income security. Over half of the elderly depend on minimal social pensions — about 500 pesos (US$3.50) per month — leaving families to shoulder most care costs. As Dr Ramos explained, “We are aging before we become rich. People are living longer, but they’re also getting poorer.”
The long-term care (LTC) industry reflects these contrasts: demand is rising sharply, but the system remains fragmented and underregulated. “There is no specific law or regulation for long-term care in the Philippines,” Dr Ramos said. “It’s still a ‘wild west’ with unregulated nursing homes and inconsistent standards.”
Most facilities are concentrated in Metro Manila, with roughly 128 known care homes before the pandemic, though many operate informally or without accreditation. In rural areas, elderly residents often live several kilometers away from the nearest basic health service. “The government hospitals in the provinces are not well distributed,” Dr Ramos added. “Some areas are four kilometers away from the nearest care facility.”
The absence of regulation, however, also means opportunity. “This is the best time to invest in senior care in the Philippines,” said Dr Ramos. “There are not so many regulations yet — you can do what you need to do as long as you serve the basic purpose.”
At the same time, the care workforce shortage is becoming acute, driven by overseas migration. “About 64% of Filipino youth aged 15 to 24 want to work abroad,” Dr Ramos observed. “That creates a care labor shortage at home, especially in rural areas.”
Leadership and Vision: Dr Ramos and His Policy Role
With over three decades of experience in geriatrics, Dr Ramos has been a central figure in shaping the Philippines’ eldercare landscape. He currently leads La Verna Aged Care and Dementia Village and advises the Department of Health, World Health Organization, and Asian Development Bank on aging and long-term care policy.
“I’ve been in the hospital for more than 30 years — as director of the biggest hospital for older people and as chief of a government hospital,” he said. “I know the system’s gaps. That’s why I decided to do it myself — to set up real long-term care facilities. I’m growing old anyway, so I might as well prepare for myself.”
Through his policy advisory work, Dr Ramos helped draft minimum care standards for older persons in healthcare settings, which began implementation this year. “We are starting small, but we hope this will become a model for broader government adoption,” he explained.
Market Demand and Evolving Care Preferences
Filipino families have traditionally cared for aging relatives at home, a reflection of deep cultural and religious values. 91% of elderly Filipinos believe their children should care for them, and 36% expect to rely financially on their children.
However, Dr Ramos warned that this family-based system is breaking down. “The daughters who used to care for their parents are now working,” he said. “Families are smaller, women are employed, and support systems are weakening.”
This transformation is creating growing demand for formal care facilities and professional home-based services. “The demand is right there and it will not end,” Dr Ramos said. “It’s a never-ending industry — people grow old, and they don’t stop.”
Dr Ramos advocates for a gradual transition from family-based to state-supported care, combined with private sector innovation and regional cooperation. “We need to move gradually,” he said. “Government, private sector, and regional partners must work together. The question is: who are the future elderly? They may prefer different living arrangements than their parents.”
The demographic shift is also fueled by returning overseas Filipino workers (OFWs) who plan to retire in their home country. “You don’t have to want it — it will happen,” Dr Ramos said. “They will come back when they can no longer sustain their work abroad. It’s a demographic imperative.”
At the same time, the Philippine Retirement Authority’s Special Resident Retiree’s Visa (SRRV) program is drawing interest from foreign retirees — Americans, Japanese, Chinese, and Koreans — attracted by affordable living, warm climate, and English-speaking caregivers.
Emerging Models: La Verna’s Integrated Approach
La Verna Aged Care and Dementia Village represents one of the first integrated LTC providers in the Philippines. Established in 2017, it offers dementia care, assisted living, and home-based services. “Our facilities are always full,” said Dr Ramos. “We now have group homes, assisted living, and a new retirement hotel. A continuing care retirement community (CCRC) is also being developed.”
The group home model, often converted from family-owned clubhouses within gated communities, accommodates 15–20 residents living together under 24-hour care. “They behave like a family inside,” Dr Ramos explained. “It’s a person-centered model, not architecture-centered.”
Meanwhile, the CCRC concept integrates independent living, assisted living, and skilled care in one community. “You can’t provide just one service,” Dr Ramos said. “What if they get sick? You can’t say, ‘You have to leave because you’re ill.’ Care must be continuous — from wellness to end-of-life.”
As of late 2024, La Verna had served over 160 dementia patients, while expanding into group homes and a luxury senior living project targeting overseas Filipinos. The model now attracts interest from Korean, Japanese, and Chinese investors exploring joint ventures.
Workforce Development and Technology Integration
For Dr Ramos, the key to sustainability lies in people and systems. “We need to professionalize long-term care,” he said. “The shortage is serious — we must train caregivers, nurses, and support staff for the complexity of aging care.”
Technology is beginning to complement human care. “AI has helped improve communication between caregivers and doctors,” he said. “It helps nurses sound more like physicians when reporting cases and reduces miscommunication.”
His facilities are adopting integrated health information systems to improve coordination and performance monitoring. “We completed the system within 2024,” he added. “It’s part of self-regulation. We cannot wait for government enforcement that may not fit current realities.”
Policy and Investment Outlook: A Window of Opportunity
For international investors, the Philippines offers a rare first-mover advantage — a growing elderly population, an emerging middle class, and minimal regulation. “Foreign investors are now entering,” said Dr Ramos. “Korean, Japanese, and Western groups are exploring partnerships — from high-rise projects to sprawling retirement villages.”
However, he cautions that success depends on local adaptation. “The Philippines has more than 7,000 islands — one model will not fit all,” he said. “It depends on the population’s paying capacity, the local support system, and the resources you have.”
Ultimately, the industry’s trajectory is clear. “This is an industry that will never end — people grow old continuously,” Dr. Ramos said. “External factors like demographics and economics all favor this sector. What we need now are the internal factors — the right business models and the will to act.”
Coming Up Next
In the coming weeks, we will continue to publish insights from ACIF 2025 speakers and international buyers visiting Cares Expo Taipei 2025, sharing their analyses and perspectives on how different countries are responding to the evolving trends in the aging society and care industry.
Through their experiences, we aim to offer readers a broader view of how global collaboration and innovation are shaping the next decade of the care industry.
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