Philippines Healthcare (Pharma and Medical Devices) Market Analysis, Regulatory, Reimbursement and Competitive Landscape
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
The Philippines pharmaceutical market was valued at $3.3 billion in the year 2020. The market is expected to grow at a CAGR of more than 1% during the period 2017-2026. The Philippines pharmaceutical market is primarily driven by imports, and multinational companies dominate the market. The Filipino pharmaceutical industry is one of the fastest-growing industries in the country and is home to over 14 of the world’s top 20 pharmaceutical companies. The Philippines pharmaceutical industry is emerging as one of ASEAN’s potentially attractive markets due to its growing population, financial prospects, government initiatives, increasing acceptance of generic medicines, improving patient access and care, and disease prevention and management programs, among others.
The Philippines medical devices market was valued at $747 million in 2021. The market is forecast to grow at a CAGR of more than 8% during the period 2021-2023. The major medical devices imported in the country are catheters, sutures, surgical masks, computed tomography (CT) scans systems, X-ray units, and ultrasound systems. Local production is limited to prototype units, spare parts (including improvised parts), and disposables such as surgical gloves, syringes, and needles.
Philippines pharmaceutical market overview
For more insights on this report, download a free sample
Philippines medical devices market overview
For more insights on this report, download a free sample
What are the market dynamics in the pharmaceutical industry in Philippines?
In the Philippines, there are several players involved in the supply channel. The Supply Chain Management Division (SCMD) is responsible for all the supply chain activities within the Philippines public health supply chain. The SCMD promotes greater integration between internal and external stakeholders, as well as ensures the alignment of demand and supply through evidence-based analysis and uniform procurement procedures.
In the Philippines, all medicines must be approved by the Philippines FDA before being marketed. The sale of most of the medicines is restricted to retail pharmacies staffed by a licensed pharmacist. Valid prescription of physicians is required for selling the prescription medicines. In private hospitals, a Pharmaceutical Therapeutic Committee (PTC) sets a formulary of medicines available for distribution in private hospitals.
What are the key segments in the pharmaceutical market in Philippines?
The key segments in the pharmaceutical market in Philippines are generics, biologics, biosimilars, and over-the-counter (OTC).
Who are the major players in the pharmaceutical market in Philippines?
The major players in the pharmaceutical market in Philippines include GlaxoSmithKline (GSK), Pfizer, Boehringer Ingelheim, Astellas Pharma, and United Laboratories (Unilab).
GlaxoSmithKline (GSK)
It is a healthcare company that focuses on the development, manufacture, and commercialization of pharmaceuticals, vaccines, and consumer healthcare products. It offers drugs for the treatment of respiratory diseases, cancer, cardiovascular diseases, human immunodeficiency virus (HIV), infectious diseases, immuno-inflammation, and rare diseases. It is headquartered in Brentford, London. In the Philippines, it operates out of Manila.
Pfizer
It is a research-based global biopharmaceutical company that discovers, develops, manufactures, and commercializes drugs for various conditions, consumer healthcare products, generics, and active pharmaceutical ingredients (APIs). Pfizer is headquartered in the US. In the Philippines, it operates out of Makati.
Boehringer Ingelheim
It is a pharmaceutical company that conducts R&D, manufacturing, and sales of pharmaceuticals. It offers a wide range of products including human diseases products, animal healthcare products, and biopharmaceuticals. It is headquartered in Ingelheim am Rhein, Rheinland-Pfalz, Germany. In the Philippines, it operates out of Paseo de Roxas.
Philippines pharmaceutical market, by major players
To know about more major players, download a free sample
Who are the major players in the medical devices market in Philippines?
The major players in the medical devices market in Philippines are Fresenius SE & Co. KGaA (Fresenius), Medtronic, Koninklijke Philips NV (Philips), GE Healthcare, and Siemens Healthineers.
Fresenius SE & Co. KGaA (Fresenius)
It is a global healthcare group that offers products and services for dialysis, hospitals, and outpatient treatment. It has major manufacturing plants in the US, Germany, China, Sweden, and Japan. The company is headquartered in Bad Homburg, Hessen, Germany. In the Philippines, its office is located in Metro Manila.
Medtronic
is a medical technology company that designs, develops, manufactures, and markets a wide range of medical devices and solutions for the treatment of heart valve disorders, heart failure, coronary artery diseases, aortic, peripheral vascular, venous renal and neurological diseases, spine and musculoskeletal disorders and ENT diseases. Medtronic is headquartered in Dublin, Ireland. In the Philippines, it operates out of Taguig.
Koninklijke Philips NV (Philips)
It is a diversified technology company that develops and manufactures medical systems and consumer electronics products. The company offers products and solutions in the areas of diagnostic imaging, enterprise diagnostic informatics, image-guided therapy, ultrasound, monitoring and analytics, and sleep and respiratory care, among others. Philips is headquartered in Amsterdam, the Netherlands. In the Philippines, it operates out of Bonifacio Global City.
Philippines medical devices market, by major players
To know about more major players, download a free sample
Market report scope
Market size 2020 | $3.3 billion |
CAGR | >1% (2017-2026) |
Forecast period | 2021-2026 |
Key segments | Generics, Biologics, Biosimilars, and Over-The-Counter (OTC) |
Major players | GlaxoSmithKline (GSK), Pfizer, Boehringer Ingelheim, Astellas Pharma, and United Laboratories (Unilab) |
Market report scope
Market size 2021 | $747 million |
CAGR | >8% (2021-2023) |
Forecast period | 2021-2023 |
Major players | Fresenius SE & Co. KGaA (Fresenius), Medtronic, Koninklijke Philips NV (Philips), GE Healthcare, and Siemens Healthineers |
Scope
The report provides information on the healthcare, regulatory, and reimbursement landscape in the Philippines, and includes:
- An overview of the pharmaceutical and medical device markets, comprising market size, segmentation, and key drivers and barriers.
- Profiles and SWOT analyses of the major players in the pharmaceutical market: GSK, Pfizer, Boehringer Ingelheim, Astellas, and Unilab.
- Profiles and SWOT analyses of the major players in the medical device market: Fresenius, Medtronic, Philips, GE Healthcare, and Siemens Healthineers.
- An insightful review of the COVID-19 epidemiology, COVID-19 impact and developments in healthcare market, HealthTech landscape, reimbursement and regulatory landscape, with analysis covering details of the country’s healthcare reimbursement process, regulatory agencies and the approval processes for new drugs and medical devices.
- Detailed analysis of the country’s healthcare policy highlights, demographics, healthcare infrastructure and healthcare expenditure.
- An overview of the opportunities for and challenges to growth in the Philippines healthcare market.”
Reasons to Buy
- This report will enhance your decision-making capability by allowing you to:
- Develop business strategies by understanding the trends shaping and driving the Philippines healthcare market
- Drive revenues by understanding the key trends, reimbursement and regulatory policies, pharmaceutical market segments and companies likely to impact the Philippines healthcare market in the future
- Formulate effective sales and marketing strategies by understanding the competitive landscape and analyzing competitors’ performance
- Organize your sales and marketing efforts by identifying the market categories and segments that present the most opportunities for consolidation, investment and strategic partnership.
Table of Contents
Table
Figures
Frequently asked questions
-
What was the Philippines pharmaceutical market size in the year 2020?
The pharmaceutical market size in the Philippines was valued at $3.3 billion in the year 2020.
-
What is the Philippines pharmaceutical market growth rate?
The pharmaceutical market in Philippines is expected to grow at a CAGR of more than 1% during the period 2017-2026.
-
What are the key segments in the Philippines pharmaceutical market?
Generics, biologics, biosimilars, and over-the-counter (OTC) are the key segments in the Philippines pharmaceutical market.
-
Who are the major players in the Philippines pharmaceutical market?
GlaxoSmithKline (GSK), Pfizer, Boehringer Ingelheim, Astellas Pharma, and United Laboratories (Unilab) are the major players in the Philippines pharmaceutical market.
-
What was the Philippines medical devices market size in the year 2021?
The medical devices market size in the Philippines was $747 million in the year 2021.
-
What is the Philippines medical devices market growth rate?
The medical devices market in the Philippines is expected to grow at a CAGR of more than 8% during the period 2021-2023.
-
Who are the major players in the Philippines medical devices market?
Fresenius SE & Co. KGaA (Fresenius), Medtronic, Koninklijke Philips NV (Philips), GE Healthcare, and Siemens Healthineers are the major players in the Philippines medical devices market.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.