Abstract
The Philippines is a relatively poor country where only a small majority of
the country has access to adequate healthcare provision and even fewer can
afford the high drug prices. This report is ideal for executives wanting to
understand the key drivers in the pharmaceutical market and have access to a
wealth of statistical data, including five-year market projections. Included
with the report are 3 free quarterly updated outlook reports, enabling you to
keep up to date with market developments for a year.
Includes 3 quarterly updated outlook reports!
With a population now in excess of 80 million, the Philippines is the
third-largest country in the Association of South East Asian Nations (ASEAN),
behind Indonesia and Vietnam. The Philippines is composed of a vast number of
islands, although much of the country' s wealth is based in the Metro Manila
region on the island of Luzon, where much of the pharmaceutical market is
based. It is here where disposable incomes are highest, and where the majority
of the country' s high class medical facilities and staff are located.
The Philippines is a relatively poor country where only a small majority of
the country has access to adequate healthcare provision and even fewer can
afford the high drug prices. The government has been actively promoting the
use of generics in recent years, as branded pharmaceuticals are expensive in a
country with very low GDP per capita. Domestic manufacturing is limited and
imports make up a large proportion of the market.
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 currently has
around 1.2 doctors per thousand population.
The Philippine pharmaceutical market is valued at US$1.3 billion in 2007. This
is equal to around US$15 per capita, comparable with neighbouring countries
such as China and Iran.
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