Philippines Pharmaceuticals & Healthcare Report

Published 11 June 2015

  • 133 pages
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$1,295.00
Philippines Pharmaceuticals & Healthcare Report

BMI View: Innovative pharmaceutical companies will continue to face a challenging business environment in the Philippines. Many concerns limiting the sales of patented drugs in the country remain unaddressed, including the low levels of intellectual property protection. Furthermore, pricing pressures on innovative drugs continue to intensify as the government seeks to expand universal healthcare coverage whil e reducing government debt. However, there will be strong opportunities for multinational drugmakers with orphan drug portfolios as a result of the introduction of several initiatives brought about by the ' Rare Diseases Act ' . This places the country ahead of other emerging markets in South East Asia.

Headline Expenditure Projections

  • Pharmaceuticals: PHP145.05bn (USD3.28bn) in 2014, rising to PHP150.19bn (USD3.37bn) in 2015; +3.5% in local currency terms and +2.6% in US dollar terms. Unchanged from last quarter .

  • Healthcare: PHP564.91bn (USD12.78bn) in 2014, rising to PHP626.73bn (USD14.05bn) in 2015; +10.9% in local currency terms and +9.9% in US dollar terms. Revised downwards from last quarter.

Risk/Reward Index

In BMI's Risk/Reward Index, and out of the 19 pharmaceutical markets assessed in Asia Pacific, the Philippines remains in 14th place (scoring 46.1 out of 100), trailing the regional average in most metrics. In Q315, Japan is ranked as the most attractive market in the Asia Pacific region (scoring 73.3 out of 100), followed by South Korea (68.6). Compared with its peers, the Philippines' Risk/Reward Index score is dragged down by industry characteristics such as policy enforcement.

Key Trends And Developments

May 2015

  • New taxes on tobacco and alcohol have helped the Filipino government raise much needed funds for providing healthcare services for the most vulnerable segments of the population. In December 2012, the Sin Tax Reform bill was passed. The bill increased taxes on tobacco and alcohol, helping the government to garner...

Table of Contents

BMI Industry View
7
SWOT
9
Political
11
Economic
12
Operational Risk
13
Industry Forecast
15
Pharmaceutical Market Forecast
15
Table: Pharmaceutical Sales, Historical Data And Forecasts (Philippines 2011-2019)
18
Healthcare Market Forecast
18
Table: Healthcare Expenditure Trends, Historical Data And Forecasts (Philippines 2011-2019)
20
Table: Government Healthcare Expenditure Trends, Historical Data And Forecasts (Philippines 2011-2019)
21
Table: Private Healthcare Expenditure Trends, Historical Data And Forecasts (Philippines 2011-2019)
21
Prescription Drug Market Forecast
21
Table: Prescription Drug Market Indicators, Historical Data And Forecasts (Philippines 2011-2019)
23
Patented Drug Market Forecast
24
Table: Patented Drug Market Indicators, Historical Data And Forecasts (Philippines 2011-2019)
26
Generic Drug Market Forecast
26
Table: Generic Drug Market Indicators, Historical Data And Forecasts (Philippines 2011-2019)
29
OTC Medicine Market Forecast
30
Table: Over-The-Counter (OTC) Medicine Market Indicators, Historical Data And Forecasts (Philippines 2011-2019)
32
Pharmaceutical Trade Forecast
32
Table: Pharmaceutical Trade Data And Forecasts (Philippines 2013-2019)
35
Table: Pharmaceutical Trade Data And Forecasts local currency (Philippines 2013-2019)
36
Key Risks To BMI's Forecast Scenario
36
Macroeconomic Forecasts
38
Economic Analysis
38
Table: Economic Activity (Philippines 2010-2019)
42
Industry Risk Reward Ratings
43
Asia Pacific Risk/Reward Index
43
Philippines Risk/Reward Index
49
Rewards
49
Risks
50
Market Overview
51
Industry Trends And Developments
52
Epidemiology
52
Healthcare Sector
54
Table: Healthcare Resources (Philippines 2009-2014)
58
Table: Healthcare Personnel (Philippines 2009-2014)
58
Table: Healthcare Activity (Philippines 2009-2014)
59
Health Insurance
59
Healthcare Sector Financing
61
Medical Tourism
62
Biotechnology And Research
62
Traditional Medicines
64
Clinical Trials
65
Regulatory Development
66
Table: History Of Food And Drugs Administration
67
Intellectual Property Regime
72
Pricing Regime
76
Table: Medicines Subject To March 31 2010 Government Mediated Access Price
81
Reimbursement Regime
82
International Cooperation
82
Competitive Landscape
84
Pharmaceutical Industry
84
Table: Pharmaceutical Industry Overview
84
Domestic Pharmaceutical Industry
84
Pharmaceutical Distribution And Retail
87
Table: Overview Of BnB, BNB and P100 Programme
92
Table: Cost Of Generic Drugs In Philippines (PHP)
92
Table: Number Of BnBs And BNBs In Selected Philippine Regions
93
Company Profile
94
Unilab
94
Pascual Laboratories
97
Pacific Pharmaceutical Generics
100
MediChem Pharmaceuticals
102
GlaxoSmithKline Philippines
104
Pfizer
107
Novartis
111
Merck & Co
115
Sanofi
117
Demographic Forecast
121
Table: Population Headline Indicators (Philippines 1990-2025)
122
Table: Key Population Ratios (Philippines 1990-2025)
122
Table: Urban/Rural Population & Life Expectancy (Philippines 1990-2025)
123
Table: Population By Age Group (Philippines 1990-2025)
123
Table: Population By Age Group % (Philippines 1990-2025)
124
Glossary
126
Methodology
128
Pharmaceutical Expenditure Forecast Model
128
Healthcare Expenditure Forecast Model
128
Notes On Methodology
129
Risk/Reward Index Methodology
130
Index Overview
131
Table: Pharmaceutical Risk/Reward Index Indicators
131
Indicator Weightings
132

The Philippines Pharmaceuticals & Healthcare Report features BMI Research'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 Philippines pharmaceutical and healthcare industry.

Key Benefits

  • Benchmark BMI's pharmaceutical and healthcare market 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 using our company profiles (including SWOTs, KPIs and latest activity) and competitive landscape tables.

Coverage

BMI Industry View

An at-a-glance perspective on the latest regulatory developments, key forecast indicators and major corporate developments, covering the prescription, OTC and generics markets. The pharmaceuticals and healthcare SWOT outlines strategic factors that affect the basic assumptions underpinning BMI’s forecast analysis, and taken together with BMI’s political, economic and business environment SWOTs, it gives a complete overview of market climate.

BMI Industry Forecast Scenario

Industry forecasts to end-2019 for all key indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecasts:

  • Healthcare: Total healthcare expenditure (USDbn), healthcare expenditure (% of GDP), healthcare expenditure per capita (USD), hospital beds, doctors, and birth & mortality rates (all per ‘000 population).
  • Pharmaceutical Market: Drug expenditure in USDbn, % of GDP and per capita (USD).
  • Patented Drug Market: Prescription drug sales (USDbn & % of total sales).
  • Generic Drug Market: Generic product sales (USDbn), generic sales (% of total sales).
  • OTC Drug Market: OTC sales (USDbn & % of total sales).
  • 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 USD, government expenditure and external debt.

BMI’s Pharmaceuticals and Healthcare Risk Reward Index

BMI’s Risk Reward Index provides investors (both national and multinational) looking for opportunities in the region with a clear country-comparative assessment of the market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Summary

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

Industry Developments

A focus on government healthcare reforms, epidemiological trends, mergers and acquisitions, product launches, market entries, FDI activity, R&D, biotechnology, clinical trials and supply chain issues.

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 analysis of the overall regulatory burden.

Competitive Landscape

The competitive landscape section provides comparative company analyses and index by USD 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.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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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