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The Pharmaceutical Market: Philippines

Philippines pharmaceutical market: Latest market analysis presented


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2014-03-10 23:19:03 - The Pharmaceutical Market: Philippines - a new market research report on companiesandmarkets.com

The Philippine economy expanded by an impressive 5.9% year-on-year in Q2 12 due to strong growth from various sectors, such as services and exports. Consequently, we have upgraded the pharmaceutical market forecast. We continue to hold our view that pharmaceutical firms will see short-term opportunities in the Philippines due to ineffective governance of the prices of drugs.

Headline Expenditure Projections

Pharmaceuticals : PHP126.04bn (US$2.91bn) in total sales in 2011, rising to PHP129.96bn (US$2.89bn) in 2012; +3.1% in local currency terms and +3.3% in US dollar terms. Forecast up slightly from Q 4 12 due to improved macroeconomic outlook .

Healthcare: PHP364.95bn (US$8.43bn) in sales in 2011 rising to PHP408.26bn (US$9.45bn) in 2012; +11.9% in local currency terms and +12.1% in US dollar terms.

 

 

Forecast up slightly from Q 4 12 due to improved macroeconomic outlook .

Medical devices: PHP14.12bn (US$297mn) in sales in 2011 rising to PHP15.11bn (US$350mn) in 2012; +7.0% in local currency terms and +17.8% in US dollar terms. Forecast up slightly from Q 4 12 due to improved macroeconomic outlook.

Risk/Reward Rating

This quarter, the Philippines retained a below-average score of 45.7 out of the maximum 100 points, placing it in14th position out of the 18 regional markets surveyed in Asia Pacific. On the whole, there is evidence that the market is maturing, with some sectors calling for the expansion of the socialised healthcare system to serve the entire nation. It is thought that such changes will boost volume consumption in particular.

Competitive Landscape

The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.

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Mike King
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