New Healthcare research report from Business Monitor International is now available from Fast Market Research

Boston, MA -- (SBWire) -- 01/06/2014 --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.

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.

View Full Report Details and Table of Contents

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.

About Fast Market Research
Fast Market Research is an online aggregator and 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 will 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:

- Malaysia Pharmaceuticals & Healthcare Report Q1 2014
- Russia Pharmaceuticals & Healthcare Report Q1 2014
- Sweden Pharmaceuticals & Healthcare Report Q1 2014
- Saudi Arabia Pharmaceuticals & Healthcare Report Q1 2014
- Estonia Pharmaceuticals & Healthcare Report Q1 2014
- Qatar Pharmaceuticals & Healthcare Report Q1 2014
- Kenya Pharmaceuticals & Healthcare Report Q1 2014
- Bulgaria Pharmaceuticals & Healthcare Report Q1 2014
- Algeria Pharmaceuticals & Healthcare Report Q1 2014
- Nigeria Pharmaceuticals & Healthcare Report Q1 2014