Study Set Content:
In a 2019 report by KPMG, the Philippines ranked () in the most attractive pharmaceutical market in the Asia-Pacific region and the third largest pharmaceutical market in ASEAN, only after ()()
11, Indonesia and Thailand
According to IMS Consulting for the Pharmaceutical Healthcare Association of the Philippines (PHAP), the growth of the pharmaceutical industry in the country is projected to be () annually over the next five years reaching () billion pesos from () billion in 2014.
4.5%, 164, 146
It is also one of the more significant pharmaceutical investment destinations in world. With the worth as much as 4 billion dollar it is a potentially huge market. With the growth in economy and increase in income of the middle class the healthcare expenditure has considerably increased. The () market consists of both domestic companies and large international companies.
Philippine
According to Dr. (), the CEO of Allied World Healthcare, “Healthcare products and medicines are in demand in the Philippines, but the cost and availability in an out-of-pocket market means many products are out of geographical and financial reach for many”.
Edward Booty
. With this, the government has taken steps to control the prices of drugs to make the health care () to the large segment of market. Many of the OTC drugs, antibiotics are now available at a much lesser cost than they used to. The drug prices used to be highest in the world but lowered significantly due to government laws, presence of foreign companies and import of drugs from ()() where drug prices are comparatively less
affordable, India, Pakistan
Many of the OTC drugs are produced by () companies which are government backed and cost very less.
domestic
he manufacturing of drugs is () in the Philippines as the required raw material is not easily available, so they need to be imported, and there is a significant lack of research and testing of drugs in the market
less
Some domestic companies have manufacturing facilities for the drugs. Of the world’s Top 20 pharmaceutical companies, over ()have manufacturing facilities in the Philippines. The share of manufacturers in the drug market is seen to rise to() and will likely expand through the years and beyond.
14 , 38%
Based on KPMG report, there are more than () drug traders, () drug importers, and() drug distributors in the Philippines
500, 700, 5,000
are the two main distributors of drugs in Philippine market.
. Metro Drug and Zuellig Pharma
Drug Sales (in US$ billion) $ 189.81
United States
9.41
Canada
4.94
Australia and New Zealand
14.58
United Kingdom
9.68
Spain
82.42
5 Leading European Markets
20.17
France
13.98
Italy
23.99
Germany
55.69
Japan
