Free Submission Public Relations & NewsPR-inside.com
Home
Deutsch English

Health

Philippines Pharmaceuticals & Healthcare Report Q1 2014 - New Market Report


Print article Print article
2013-12-27 11:05:52 - Recently published research from Business Monitor International, "Philippines Pharmaceuticals & Healthcare Report Q1 2014", is now available at Fast Market Research

BMI is upgrading its generic drug market forecast on the back of greater acceptance of generic drugs coupled with progressive implementation of universal health coverage. As for the latter factor, we expect improvements in health-related infrastructure and the medical workforce in order to provide care for patients. The corresponding rise in the number of health facilities will spur demand for generic drugs and prescription drugs in general. Both factors will continue to provide opportunities for generic drug firms looking to expand in the Philippines. We highlight, however, that potential price containment policies and the current lack of health facilities are downside risks to our view.

Full Report Details at
- www.fastmr.com/prod/754623_philippines_pharmaceuticals_healthcar ..

Headline Expenditure Projections

* Pharmaceuticals: PHP138.45bn (US$3.28bn) in total sales

in 2013, rising to PHP143.38bn (US$3.37bn) in 2014; +3.6% in local currency terms and +2.9% in US dollar terms.
* Healthcare: PHP520.23bn (US$12.32bn) in sales in 2013 rising to PHP583.48bn (US$13.373bn) in 2014; +12.1% in local currency terms and +11.5% in US dollar terms.

Risk/Reward Rating: Out of 19 pharmaceutical markets assessed in Asia Pacific, the Philippines remain in 14th place (scoring 45.3 out of 100) trailing the regional average in every metric. In Q114, Japan is ranked as the most attractive market in the Asia Pacific region (scoring 74.5 out of 100), followed by Australia (67.0) and South Korea (65.4). Compared to its peers, the Philippines' RRR score is dragged down by industry characteristics such as the policy enforcement (policy enforcement score of 2.8 out of 7). Still, with a 6.0 sector value growth score (compare to Japan's 0.0 score) there is plenty of future opportunity and rewards. In particular, scores in two categories stand out positively because they point to future opportunity; namely, a market expenditure score of 12.0 (above the regional average score of 10.3) and a 3.5 score in population growth (compare to regional average score of 2.8). Overall, there are indications that the market is maturing further, with the progressive implementation of a universal healthcare system.

Key Trends And Developments

* The government of Philippines plans to open nine oncology centres by 2015, reports the Philippine Daily Inquirer, citing health secretary Enrique Ona. According to Ona these nine oncology centres will provide free cancer treatment for certain types of cancers to poor Filipinos who cannot afford expensive cancer treatments. The country's health department has started the bidding process for the PHP3bn (US$67mn) project, which will be completed through public-private partnership agreements, Ona added. The health department is planning to establish these centres in Tuguegarao, Cabanatuan, Dagupan, Naga, Manila, Cagayan de Oro, Zamboanga City, either Bacolod or Iloilo, and in Eastern Visayas. The Philippines has been added to the World Health Organization's (WHO) list of countries where mosquito-borne dengue fever poses a major health risk to 40% of the population. According to the WHO dengue affects most Asian countries and has emerged as the leading cause of hospitalisation and death among children in the region. Health experts in the Philippines said that dengue, which used to become prevalent only during the rainy season, has turned into a year-round problem - mainly due to global warming.
* The Philippine finance department is supporting a proposal that aims to put the responsibility of supervising and regulating health maintenance organisations (HMOs) under the country's Insurance Commission, reports the Philippine Star. This is noteworthy because financial transactions of HMOs, which are a rapidly growing part of the country's healthcare account, are not monitored by any government organisation. The Philippines' Association of Health Maintenance Organisation is pushing a bill, which has been introduced with the objective of tightly regulating the industry and ensuring fair competition among legitimate and competent HMOs.
* The Philippines' Food and Drug Administration (FDA) has identified fake multivitamins and mineral tablets being advertised and offered for sale online through a website Beeconomic in the Philippines. Subsequent to the development, the FDA has issued a warning to the public not to purchase medicines online, until it can ascertain the safety and quality of medicines sold online in the country. The FDA has not yet developed a framework for selling or advertising medicines online in the Philippines.

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.


Author:
Bill Thompson
e-mail
Web: www.fastmr.com
Phone: 18008448156

Disclaimer: If you have any questions regarding information in these press releases please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims contents contained in this release.
Latest News
Read the Latest News
www.newsenvoy.com

 


Terms & Conditions | Privacy | About us | Contact PR-inside.com