Thursday, September 18, 2014 Last update: 8:33 AM - All Company Technology News Since 1996

Philippines Pharmaceutical Market worth $8 Billion by 2020

Companies mentioned in this article: RnRMarketResearch

DALLAS, May 16, 2014 /PRNewswire-iReach/ -- "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape Philippines". The report is an essential source of information and analysis regarding the healthcare, regulatory and reimbursement landscape in the Philippines. It identifies key trends in the healthcare market and provides insights into the demographic, regulatory, reimbursement landscape and healthcare infrastructure in the country. Most importantly, the report provides valuable insights into the trends and segmentation of the pharmaceutical and medical device markets.


The Philippines' pharmaceutical market value will increase from $4.3 billion in 2013 to $8 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 9.4%. According to the company's latest report "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape Philippines", the Philippines have the third largest pharma market among the countries in the Association of Southeast Asian Nations (ASEAN), just after Indonesia and Thailand.

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"Although an increasing disease burden, coupled with prevailing high pharmaceutical prices, are providing the necessary investment incentives for the healthcare market in the Philippines, limited access to healthcare facilities and governmental cuts could yet impede further growth in the future."

Furthermore, public health insurance provider Philippine Health Insurance Corporation does not cover the country's entire population, resulting in the majority of people being unable to afford medicines. "The government has taken a number of measures to control the high drug prices to very little effect, thanks to the large amount of imported therapies and the demand for costly branded drugs."Additionally, high spending to overcome basic economic concerns, such as poverty, dependence on imports and high external debt, have left the Philippines' government with insufficient funds to finance the development of healthcare infrastructure.

This report provides information and analysis on the healthcare, regulatory and reimbursement landscape in the Philippines. It identifies key trends in the Philippines' healthcare market and provides insights into the demographic, regulatory and reimbursement landscape and healthcare infrastructure.

The Report "CountryFocus: Healthcare, Regulatory and Reimbursement Landscape - Philippines" is available at .

The positive trend in the healthcare market of the Philippines can be attributed primarily to the following factors -

    --  Generic substitution in both the public and private sectors, which has
        been a driver for the manufacture of generic drugs
    --  Increased expenditure on medicines by Local Government Units (LGUs)
    --  Government initiatives for the prevention and management of chronic
    --  An improved and updated regulatory environment


This report provides information on the healthcare, regulatory, and reimbursement landscape in the Philippines, including the following -

    --  An overview of the pharmaceutical and medical device markets, comprising
        market size, segmentation, and key drivers and barriers
    --  Profiles and SWOT analyses for major players in the pharmaceutical
        market (United Laboratories, Pfizer, GlaxoSmithKline, Novartis, Merck)
    --  An insightful review of the reimbursement and regulatory landscape,
        including details of the healthcare reimbursement process, regulatory
        agencies, and approval processes for new drugs and medical devices
    --  Detailed analysis of the political and economic environment, covering
        economic indicators, demographics, healthcare infrastructure, and
        healthcare expenditure
    --  An overview of the opportunities for and challenges facing growth in the
        healthcare market

Reasons to buy

This report will enhance your decision-making capability by allowing you to -

    --  Develop business strategies based on a sound understanding of the trends
        shaping and driving the healthcare market in the Philippines
    --  Generate revenue based upon knowledge of key trends, reimbursement and
        regulatory policies, pharmaceutical market segments, and the companies
        likely to impact the healthcare market in the future
    --  Formulate effective sales and marketing strategies by understanding the
        competitive landscape and analyzing the performance of various
    --  Organize sales and marketing efforts by identifying the market
        categories and segments that present the greatest opportunities for
        consolidation, investment, and strategic partnership
    --  Identify, understand, and capitalize upon the opportunities and
        challenges in the Philippines' healthcare market

Browse more reports on Healthcare Industry at .

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