Countries covered: Philippines
The Philippines pharmaceuticals market has posted solid growth
in recent years, although BMI's new Philippines
Pharmaceuticals & Healthcare report cautions that a sluggish
economic performance in 2006 could damage the positive outlook.
Drug prices remain a key area of contention, with pharmaceuticals
prohibitively expensive for much of the population, and the
government is set to establish a Drug Prices Regulatory Board.
Previously, the market was largely unregulated. Other legislative
proposals include the introduction of lax compulsory licensing
procedures, while the parallel import of low-cost generic
equivalents to branded medicines is also being encouraged.
Multinational drugmakers - which dominate the market - have
fiercely opposed this last measure, claiming that parallel
imports both violate patent rates and put patient lives at risk,
as the safety and efficacy of the drugs cannot be guaranteed. US
drugmaker Pfizer has recently launched a lawsuit against
the government concerning a regulatory approval for a generic
version of its hypertension treatment Norvasc. If the
authorities are successful, they will be able to import low cost
versions of the drug when its patent in the Philippines expires
in 2007. Pfizer is seeking to halt this amid fears that its other
leading treatments, such as cholesterol treatment Lipitor,
will also come under threat.
BMI's adjusted Business Environment Rankings for Asia
reveal that the Philippines is in 12th place, ahead only of
Vietnam and Pakistan. The country has received this score
primarily due to its poor regulatory system and sub-standard
Intellectual Property regime, which does not provide effective
patent linkage, enforces strict price controls and fails to take
action against counterfeit drugs.
Fake drugs remain a severe problem, with much of the large
low-income population attracted to illegal products due to
relatively high medicine prices. The authorities have recently
pledged to strengthen the regulatory structures, with a view to
stamping out this damaging trade. Measures include giving
regulators greater powers to recall product batches and
increasing prison sentences for counterfeiters.
Key Benefits of Report
Rely On Our Independent 5-Year Forecasts As A Benchmark
to test other views - a key input for successful budgetary and strategic business planning.
Target Business Opportunities & Risks
through our reviews of latest industry trends, regulatory changes, and major deals, projects and investments
Exploit Latest Competitive Intelligence & Company SWOTS
on your competitors and peers through company rankings by sales, market share and ownership structure - includes multinational and national companies.
Additional Information
Scope of Report
Executive Summary & Industry SWOT
An at-a-glance perspective on latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The SWOT outlines strategic factors which affect BMI’s forecast analysis, and taken together with BMI’s Economic and Business Environment SWOTS, give a complete overview of market climate.
Market Summary
Outline of market characteristics, growth factors, leading therapeutic segments and a competitivness of the market.
Regulatory Regime
Guide to and analysis of country intellectual property developments and pricing & reimbursement issues, which constitute the regulatory make-up of the market.
Industry Developments
Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D and patent legislation.
BMI 5-Year Industry Forecast
5-Year Forecasts to end-2010 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
Drug market expenditure (US$bn); drug expenditure per capita (US$); as % of gdp
Prescription drug market (US$bn)/as % of total market; sales by alimentary tract/metabolism; antibiotics, cardiovascular, central nervous system, oncology, musculoskeletal and respiratory system
OTC market (US$bn)/as % of total market (sales by analgesic, cough and cold, digestives, skin treatments, vitamins and minerals)
Generics market (US$bn)/ as % of total market
Health expenditure (US$bn, % of gdp and per capita); public sector health expenditure as % of total; number of hospitals; beds, hospital admissions, doctors, births and deaths per 000 population
Forecasts based on bespoke BMI economic modelling, using historical data sets of macroeconomic and industry variables to derive rigorous statistical relationships, anchored in advanced linear regression techniques.
BMI 5-Year Macroeconomic Forecasts
BMI forecasts for all headline macroeconomic indicators, including:
Nominal and real GDP, % real GDP growth, % private consumption growth, % industrial output growth, % consumer price index, % GDP price deflator, exports, imports, trade balance, current account balance, foreign direct investment, exchange rate against US$, government expenditure, external debt
Competitive Landscape & Profiles
Intelligence on the market position of major MNC power houses and indigenous companies. BMI profiles key research-based companies. Company SWOTS are provided for all key strategic players, complete with a company activity overview, its leading products and analysis of business opportunities.Related Reports:
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Snapshots Poland Pharmaceuticals 2009
Snapshots US Pharmaceuticals 2009
Snapshots South Africa Pharmaceuticals 2009
Snapshots Spain Pharmaceuticals 2009
Nigeria Pharmaceuticals and Healthcare Report Q1 2010
Australia Pharmaceuticals and Healthcare Report Q1 2010
Thailand Pharmaceuticals and Healthcare Report Q1 2010
Kenya Pharmaceuticals and Healthcare Report Q1 2010
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