Boston, MA -- (SBWIRE) -- 10/16/2014 -- The Philippine government's aim to lower pharmaceutical expenditure through medicine price cuts, parallel imports and the use of generic drugs will continue to hinder multinational pharmaceutical firms' investment and interest in the country's pharmaceutical market. Nevertheless, the government's intention to improve healthcare through the implementation of a universal healthcare scheme will continue to present significant revenue-generating opportunities for firms over the long term.

Headline Expenditure Projections

- Pharmaceuticals: PHP140.20bn (USD3.25bn) in 2013, rising to PHP145.05bn (USD3.30bn) in 2014; +3.5% in local currency terms and +1.6% in US dollar terms.
- Healthcare: PHP545.09bn (USD12.62bn) in 2013, rising to PHP613.05bn (USD13.93bn) in 2014; +12.5% in local currency terms and +10.4% in US dollar terms.

View Full Report Details and Table of Contents

Risk/Reward Rating: Out of the 19 pharmaceutical markets assessed in Asia Pacific, the Philippines remains in 14th place (scoring 45.3 out of 100), trailing the regional average in most metrics. In Q414, Japan is ranked as the most attractive market in the Asia Pacific region (scoring 78.1 out of 100), followed by South Korea (68.6) and Australia (65.8).

Key Trends And Developments

In July 2014, the US Food and Drug Administration (FDA) advised doctors and paramedical practitioners to report adverse reactions to medications and medical devices, and to not fear litigation. This advice followed the FDA noting that the country is one of the lowest-performing in terms of pharmacovigilance, because practitioners fear to become targets of lawsuits. Pharmacovigilance is defined by the World Health Organization as 'the science and activities relating to the detection, assessment, understanding and prevention of adverse effects or any other drug-related problem', reports Inquirer.net.

In June 2014, the Philippine government identified India-based Medchem International as the company that manufactured an allegedly contaminated medicine,...

The Philippines Pharmaceuticals & Healthcare Report features Business Monitor International (BMI)'s forecasts for drugs and healthcare expenditure and imports and exports, focusing on the growth outlook for the prescription, OTC, patented drugs and generics market segments.

BMI's Philippines Pharmaceuticals & Healthcare Report provides industry professionals, strategists, company executives, investors, analysts and sales/marketing heads with independent forecasts and competitive intelligence on the Philippine pharmaceutical and healthcare industry.

Key Benefits

- Benchmark BMI's independent pharmaceutical and healthcare industry forecasts for Philippines to test other views - a key input for successful budgeting and strategic business planning in the Philippine pharmaceutical and healthcare market.
- Target business opportunities and risks in the Philippine pharmaceutical and healthcare sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Philippines.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View & 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 political, economic and business environment SWOTS, it gives a complete overview of market climate.

Market Summary

Snapshot of key market characteristics, including total size of pharmaceuticals and healthcare segments, growth drivers, leading therapeutic areas and the competitive landscape.

Regulatory Regime

Details of the industry regulatory framework and key legislation covering the licensing of new products/services, pricing and reimbursements, intellectual property, taxation and advertising, as well as an analysis of the overall regulatory burden.

Industry Developments

Focus on government healthcare reforms, epidemiological trends, company M&As, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

BMI Industry Forecasts

Forecasts to end-2018 for all key industry indicators (see list below) supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Healthcare research reports at Fast Market Research

You may also be interested in these related reports:

- South Korea Pharmaceuticals & Healthcare Report Q4 2014
- Sweden Pharmaceuticals & Healthcare Report Q4 2014
- Kenya Pharmaceuticals & Healthcare Report Q4 2014
- Bulgaria Pharmaceuticals & Healthcare Report Q4 2014
- Argentina Pharmaceuticals & Healthcare Report Q4 2014
- Peru Pharmaceuticals & Healthcare Report Q4 2014
- China Pharmaceuticals and Healthcare Report Q4 2014
- Estonia Pharmaceuticals & Healthcare Report Q4 2014
- Canada Pharmaceuticals & Healthcare Report Q4 2014
- Bangladesh Pharmaceuticals & Healthcare Report Q4 2014