Philippines Pharmaceuticals and Healthcare Report Q2 2008

Publication Date	May 2008
Publisher	Business Monitor
Product Type	Report
Pages	79
ISBN Number	1748-376X
Product Code	BMI00259

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£425.00
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Summary

In BMI's Q208 Business Environment Rankings of 14 key markets in the Asia Pacific region, the Philippines is regarded as only the tenth most attractive pharmaceutical market. While BMI expects the country to improve this position over the next five-year period as the market matures, with more people being able to afford healthcare, at present, the environment is relatively difficult. Even though the country posts an above average score for its legal framework and economic structure, it is let down by widespread corruption and bureaucracy.

In the meantime, the anticipated 'Cheaper Medicines Bill' will result in lower prices, but also increased consumption as those on the lowest incomes will be able to afford some pharmaceuticals for the first time. Consequently, we will be maintaining our forecasts for the Philippines' pharmaceutical market, which is expected to top US$4bn in 2012, up from an estimated US$2.61bn in 2007. Double-digit yearon- year (y-o-y) growth over the next five years is also a major encouragement for foreign pharmaceutical players, as illustrated by the recent opening of a local branch by French firm Sanofi-Aventis' generics subsidiary - Winthrop Pharmaceuticals.

Access to medicines will also be improved by various developments in the retail sector. In December 2007, adding to the global trend, a mobile pharmacy firm Med Express expanded its operations in the Philippines. While BMI sees potential for this type of service in areas lacking drugstores or in emergency situations, there will always be demand for walk-in pharmacies, particularly when one considers the multitude of medications a modern outlet must stock.

Similarly, the demand for medical devices will be boosted by an increase in healthcare budget, economic development and rising healthcare awareness. The local industry mainly provides basic hospital supplies, with key growth areas for importers being ophthalmic instruments and orthopaedic, prosthetic and X-ray equipment, among others. However, the demand for medical devices is relatively steady only in urban areas, given that geographical inaccessibility and the lack of healthcare funding has resulted in poor provision of medical equipment elsewhere in the country.

Content

Executive Summary
Philippines Pharmaceutical And Healthcare Industry SWOT
Philippines Political SWOT
Philippines Economic SWOT
Philippines Business Environment SWOT
Pharmaceutical Business Environment Ranking
Limits Of Potential Returns
Risks To Realisation Of Returns
The Philippines - Market Summary
Regulatory Regime
Recent Regulatory Developments
Intellectual Property Regime
IP Shortcomings
IP Disputes
Counterfeit Drugs
Pricing And Reimbursement Regime
Parallel Trade
Corruption
International Co-operation
Industry Trends And Developments
Epidemiology
Healthcare Sector
Medical Tourism
Pharmaceutical Sector
Domestic Industry
Foreign Companies
Biotechnology
Recent Biotechnology Developments
Traditional Medicines
Pharmaceutical Retail
Medical Devices
Industry Forecast Sce33
Overall Market Forecast
Key Growth Factors - Industry
Economic Activity
Patented Market Forecast
Generics Market Forecast
OTC Market Forecast
Export/Import Forecasts
Other Healthcare Data Forecasts
Key Risks To BMI's Forecast Scenario
Competitive Landscape
Company Monitor
Leading Multinational Manufacturers
GlaxoSmithKline Philippines
Pfizer
Novartis
Merck & Co
Sanofi-Aventis
Abbott Laboratories
Bristol-Myers Squibb
Wyeth
Eli Lilly
Indigenous Manufacturers
Unilab
Pascual Laboratories
Pacific Pharmaceuticals
MediChem Pharmaceuticals
BMI Forecast Modelling
How We Generate Our Industry Forecasts
Pharmaceutical Industry
Pharmaceutical Business Environment Ratings Methodology
Ratings Overview
Weighting
Sources
List of Tables
- Table: Asia Pacific Pharmaceutical Business Environment Ratings
- Table: Timeline Of Cheaper Medicines Bill, 2007
- Table Clinical Trial Considerations In Asia
- Table: Philippines' Pharmaceuticals Market Trends
- Table: Philippines' Health Expenditure Forecasts
- Table: Philippines - Economic Activity
- Table: Philippines' Patented Drugs Market Indicators (US$mn unless otherwise stated)
- Table: Philippines' Generics Market Forecasts
- Table: Philippines' OTC Drugs Market Indicators (US$mn unless otherwise stated)
- Table: Philippines' Pharmaceuticals Exports & Imports Forecasts (US$mn)
- Table: Philippines - Other Health Indicators
- Table: Leading Firms And Medicines In the Philippines, Q405
- Table: Pharmaceutical Business Environment Indicators
- Table: Weighting Of Components

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Product features / use

Scope	Expert Insight/Opinion
Level	General Industry Strategies
Data	Detailed Market Forecasts
Profiles	Profiles of Key Companies
Features	Contains SWOT Analysis
Extra Info	Consumer Trends Highlighted