Philippines pharma market's attractiveness rating raised by BMI, but still sees problems such as drug pricing
Having been ranked as the 11th most attractive pharmaceutical market in the Asia Pacific region in the first quarter of 2010, the Philippines improved its position by one place in Business Monitor International's Asia Pacific's Quarter two Business Environment Ratings (BER) table, now ranking joint 10th with Thailand.
The Philippines pharmaceutical rating was raised as a result of the expected improvement of its domestic consumption fundamentals and the steady annual growth rate of its pharmaceutical market values. The market is maturing, and there are calls to expand the socialized healthcare system to serve the entire nation, which would boost volume consumption in particular.
9.7% market growth projected, driven by generics
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