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The Philippines – TRIUMPH country

Philippines - TRIUMPH country

Philippines Micronesia 010 by Stefan Krasowski with CC

The Philip­pines could also be included among the top ten most attrac­tive Pharma mar­kets in the Asia-Pacific region. Within the ASEAN, the Philip­pines occupies the third posi­tion, just after Indone­sia and Thai­land. Unfortunately, their health­care sys­tem is so obso­lete that the mar­ket is unable to meet the health­care prod­uct quota that a big pop­u­la­tion demands.

There is nei­ther growth nor devel­op­ment present in the Filipino com­pa­nies that pro­duce OTC and Pharma prod­ucts. In com­par­i­son with China, where there is an obvi­ous desire to pro­duce domes­tic prod­ucts, the com­pa­nies in the Philip­pines are still depen­dent on for­eign man­u­fac­tur­ers. The level of devel­op­ment in the Pharma sec­tor is very mod­er­ate.

At present, mar­ket access in the Philip­pines—with the help of a sys­tem­at­i­cally selected part­ner—is still a rel­a­tively sim­ple and non-cost-intensive option. The next few years will see a great oppor­tu­nity to enter a top-ten market with branded prod­ucts in the Philippines. The OTC and Pharma mar­kets in neigh­bour­ing coun­tries, such as Thai­land and Malaysia, also show some poten­tial, albeit not on the level of the TRIUMPH markets.

CPC Press Releases on the Philippines:

The Philippines: OTC and Pharma market