Business Monitor International


Philippines Pharmaceuticals & Healthcare Report

Published 05 March 2014

  • 127 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Philippines Pharmaceuticals & Healthcare Report

BMI View: According to the Philippine Institute for Development Studies (PIDS) the pharmaceutical industry is one of the fastest growing industries in the country. Its output, drugs and medicines, account for 46% of the total medical out-of-pocket expenses of Philippine households. For poorer people, this percentage goes up to 55%. However, out-of-pocket financing for healthcare indicates inequality. As the Haiyan tragedy in November 2013 revealed, many rural areas in the country are yet to benefit from marginal improvements in basic infrastructure and state services, including healthcare. BMI believes that the country - given its strong economic growth - needs to speed up upgrading health facilities, recruit and deploy health human resources, ensure competency, and ensure the availability of drugs, medicines, and vaccines throughout the country.

Headline Expenditure Projections

  • Pharmaceuticals: PHP138.45bn (US$3.20bn) in total sales in 2013, rising to PHP143.52bn (US$3.22bn) in 2014; +3.7% in local currency terms and +0.5% in US dollar terms.

  • Healthcare: PHP520.33bn (US$12.04bn) in sales in 2013 rising to PHP587.84bn (US$13.20bn) in 2014; +13.0% in local currency terms and +9.6% 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 most metrics. In Q214, 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 Taiwan (65.7).

Key Trends And Developments

  • In January 2014, the Philippine government and rebels - the Moro Islamic Liberation Front (MILF) - reached a peace deal on January 25 in order to end the four-decade old insurgency in the country's southern region. Negotiators of both sides met on January 22 to decide how the rebels will hand over their weapons. The revolt claimed the lives of around 150,000 people and led to acute...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Business Environment
13
Industry Forecast
14
Pharmaceutical Market Forecast
14
Table: Philippines Pharmaceutical Sales, Historical Data and Forecasts, 2010-2018
15
Healthcare Market Forecast
16
Table: Philippines Healthcare Expenditure Trends, Historical Data and Forecasts, 2010-2018
18
Table: Philippines Government Healthcare Expenditure Trends, Historical Data and Forecasts, 2010-2018
18
Table: Philippines Private Healthcare Expenditure Trends, Historical Data and Forecasts, 2010-2018
19
Prescription Drug Market Forecast
19
Table: Philippines Prescription Drug Market Indicators, Historical Data and Forecasts, 2010-2018
21
Patented Drug Market Forecast
21
Table: Philippines Patented Drug Market Indicators, Historical Data and Forecasts, 2010-2018
22
Generic Drug Market Forecast
23
Table: Philippines Generics Drug Market Indicators, Historical Data and Forecasts, 2010-2018
25
OTC Medicine Market Forecast
26
Table: Philippines Over-The-Counter (OTC) Medicine Market Indicators, Historical Data and Forecasts, 2010-2018
27
Pharmaceutical Trade
28
Table: Philippines Pharmaceutical Trade Data And Forecasts (US$mn), 2010-2018
31
Table: Philippines Pharmaceutical Trade Data And Forecasts (PHPmn), 2010-2018
31
Other Healthcare Data
32
Key Risks To BMI's Forecast Scenario
33
Macroeconomic Forecasts
34
Economic Analysis
34
Overreliance On Electronics Continues To Recede
34
Q413 Data To Reflect Yolanda Impact, But Growth Cycle Still On Track
36
Growth Upgrades Warranted, With A Caveat
38
Expenditure Breakdown
38
Table: Philippines - Economic Activity
39
Industry Risk Reward Ratings
40
Asia Risk/Reward Ratings
40
Philippines Risk/Reward Ratings
46
Rewards
46
Risks
46
Market Overview
48
Industry Trends And Developments
49
Epidemiology
49
Healthcare Sector
52
Health Insurance
56
Healthcare Sector Financing
59
Medical Tourism
59
Biotechnology And Research
60
Traditional Medicines
62
Regulatory Development
63
Table: History Of Food And Drugs Administration
64
Intellectual Property Regime
67
Pricing Regime
72
Table: Medicines Subject To March 31 2010 Government Mediated Access Price
75
Reimbursement Regime
76
International Cooperation
77
Competitive Landscape
80
Pharmaceutical Industry
80
Table: Pharmaceutical Industry Overview
80
Domestic Pharmaceutical Industry
80
Pharmaceutical Distribution and Retail
82
Table: Overview Of BnB, BNB and P100 Programme
87
Table: Cost Of Generic Drugs In Philippines (PHP)
87
Table: Number Of BnBs And BNBs In Selected Philippine Regions
88
Company Profile
89
Unilab
89
Pascual Laboratories
92
Pacific Pharmaceutical Generics
95
MediChem Pharmaceuticals
97
GlaxoSmithKline Philippines
99
Pfizer
102
Novartis
106
Merck & Co
111
Sanofi
113
Demographic Forecast
116
Demographic Outlook
116
Table: The Philippines' Population By Age Group, 1990-2020 ('000)
117
Table: The Philippines' Population By Age Group, 1990-2020 (% of total)
118
Table: The Philippines' Key Population Ratios, 1990-2020
119
Table: The Philippines' Rural And Urban Population, 1990-2020
119
Glossary
120
Methodology
122
Pharmaceutical Expenditure Forecast Model
122
Healthcare Expenditure Forecast Model
122
Notes On Methodology
123
Risk/Reward Ratings Methodology
124
Ratings Overview
125
Table: Pharmaceutical Risk/Reward Ratings Indicators
125
Indicator Weightings
126

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:

Healthcare: Total healthcare expenditure (US$bn), healthcare expenditure (% of GDP), healthcare expenditure per capita (US$), hospital beds (per `000 population), doctors (per `000 population), birth and mortality rate (per `000 population)

Pharmaceutical market: Drug expenditure (US$bn), drug expenditure (% of GDP), drug expenditure per capita (US$)

Patented drug market: Prescription drug sales (US$bn), prescription sales (% of total sales), sales broken down by 14 therapeutic areas (cardiovascular, anti-infectives etc.)

Generic drug market: Generic product sales (US$bn), generic sales (% of total sales)

OTC drug market: OTC sales (US$bn), OTC sales (% of total sales), sales broken down by product types (analgesics, skin treatments, vitamins and minerals etc.)

Medical Devices: Medical device sales (US$bn), medical device sales (% of total healthcare market)

Macroeconomic Forecasts: 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

The competitive landscape section provides comparative company analyses and rankings by US$ sales and % share of total sales - for the total pharmaceutical sector, as well as the OTC, generics, and distribution sub-sectors.

Company Profiles

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc