Pharmaceutical sales in the Philippines have increased in the last few years. It was projected that by 2020, the sales value of pharmaceuticals would be over four billion Philippine pesos. Hence, manufacturing the right drugs were crucial for multinational and local pharmaceutical companies to increase their share of this market.
Market share of corporations in the Philippines’ pharmaceutical market
Several companies have significantly contributed to the Philippines’ growing pharmaceutical industry. Of these corporations, multinational companies have dominated the entire pharmaceutical market sales, accounting for more than half of the total sales value. However, local corporations have become big competitors for multinational companies, especially on the sales of branded generic drugs in the market.
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CPhI South East Asia. (May 20, 2020). Sales value of pharmaceuticals in the Philippines from 2018 to 2019, with a forecast until 2024 (in billion U.S. dollars) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1196537/philippines-sales-value-of-pharmaceuticals/
CPhI South East Asia. "Sales value of pharmaceuticals in the Philippines from 2018 to 2019, with a forecast until 2024 (in billion U.S. dollars)." Chart. May 20, 2020. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1196537/philippines-sales-value-of-pharmaceuticals/
CPhI South East Asia. (2020). Sales value of pharmaceuticals in the Philippines from 2018 to 2019, with a forecast until 2024 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1196537/philippines-sales-value-of-pharmaceuticals/
CPhI South East Asia. "Sales Value of Pharmaceuticals in The Philippines from 2018 to 2019, with a Forecast until 2024 (in Billion U.S. Dollars)." Statista, Statista Inc., 20 May 2020, https://www.statista.com/statistics/1196537/philippines-sales-value-of-pharmaceuticals/
CPhI South East Asia, Sales value of pharmaceuticals in the Philippines from 2018 to 2019, with a forecast until 2024 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1196537/philippines-sales-value-of-pharmaceuticals/ (last visited September 01, 2024)
Sales value of pharmaceuticals in the Philippines from 2018 to 2019, with a forecast until 2024 (in billion U.S. dollars) [Graph], CPhI South East Asia, May 20, 2020. [Online]. Available: https://www.statista.com/statistics/1196537/philippines-sales-value-of-pharmaceuticals/