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The Pharmaceutical Market: Philippines
Espicom Business Intelligence Ltd, Sep 2009, Pages: 64
This in-depth pharmaceutical market report is ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Executive Summary
Changes to be brought by the controversial Cheaper Medicine Bill will impact the Philippines pharmaceutical market in a number of areas, including IP laws, competition and drug price control mechanisms. The market is expected to be especially volatile in the short term.
The government has been criticised in the past for not doing enough to promote generics and has recently stepped up its efforts, launching Project 100 in 2008 for example, which promises to offer cheap generics at 100 public hospitals around the country.
Parallel imports have increased and the government has urged retailers and wholesalers to stock more generics, as part of its campaign to reduce the price of many essential medicines.
The Philippines is one of the poorer countries in the ASEAN region, with GDP per capita estimated at just US$1,520 in 2009. Health expenditure is also low, both in absolute terms and as a percentage of GDP. The country attracts a degree of overseas aid, although it is reportedly a difficult place in which to undertake healthcare projects.
Administration of the health sector is highly devolved to local government units. This can make planning and co-ordination difficult. Between 50% and 60% of healthcare expenditure and provision is in the private sector.
An exodus of medical staff overseas in pursuit of better wages and working conditions has put severe pressure on healthcare services. The Philippines has around 1.1 doctors per thousand population.
The Philippine pharmaceutical market is valued at US$1.4 billion in 2008, equal to nearly US$15 per capita. In terms of the overall market this is comparable to Pakistan and Thailand, and in per capita terms similar to China and Iran.
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