May 9, 2013
The Philippines' market for pharmaceutical products is growing at its fastest pace in years, at about 13 percent annually. By 2014, experts predict that it will have a value of $4 billion. This would make the drug market in the Philippines almost as large as those of Indonesia or Taiwan.
February 18, 2013
The Filipino medical device market is worth more than $300 million, and it is set to grow at 9 percent over the next few years. Growth will be driven by increasing healthcare expenditures, medical tourism and a growing private sector. Demand will be met primarily by imports.
February 1, 2012
The Philippines pharmaceutical market is growing rapidly. It is heavily driven by imports and is currently the third largest market in ASEAN after Indonesia and Thailand. The Philippines pharmaceutical market, currently valued at about $3.0 billion, is predicated to reach about $3.4 billion by 2013 according to experts. The Philippines’ drug regulatory body, the Bureau of Food and Drug (BFAD), adopted US Pharmacopoeia standards. Hence, US pharmaceuticals should continue to have good market potential. The majority of pharmaceutical sales in the country are from prescription drugs. Over the past five years, there has been an increase in the number of both local and foreign drug companies. Currently, the biggest pharmaceutical companies in the Philippines include Novartis, Sanofi-Aventis Philippines, Wyeth, Abbott, Pfizer, and Johnson & Johnson.
February 1, 2009
Navigating global regulatory markets can be a challenge, particularly when multiple countries in a region differ in their rules. Playing by a common set of rules for medtech regulation is about to get a little easier in Southeast Asia, as a group of countries prepares to unveil a more unified approach to oversight.
Pacific Bridge Medical presents Managing Asian Cultural/Business Diversity, a 2008 webcast/webinar on cross-cultural issues for Western companies doing business in Asia.
Pacific Bridge Medical presents ASEAN Medical Device Harmonization Trends, a webcast/webinar on the medical device regulatory environment in the Southeast Asian nations, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
March 1, 2008
When medical companies think of bringing their products to the Asian markets, they typically think of larger countries like China, Japan, or Korea first. However, other smaller Asian countries such as Singapore and Malaysia can be worthwhile destinations as well. Although they have smaller populations, these markets all have well-developed healthcare systems and are receptive to advanced products. In addition, their medical device markets are growing rapidly and, in many instances, are more easily accessible to foreign manufacturers. Before venturing into these territories, however, regulatory professionals will need to keep track of current changes to be successful. This article discusses recent regulatory developments in Singapore, Malaysia, Hong Kong, the Philippines, and Taiwan.
November 1, 2007
This report helps medical device manufacturers and distributors better understand how to source from Asia. Topics covered include: how to identify manufacturers, how to perform due diligence, what to look for during factory visits, contract negotiations, regulatory requirements, logistics, quality control, and other issues related to the sourcing equation. This report will also offer advice on how to avoid and troubleshoot problems and pitfalls that may arise in the course of the sourcing process, as well as information about insurance, payment arrangements, freight forwarding, and customs.
Furthermore, we will include Microsoft Excel spreadsheet templates on CD-ROM with this report that will facilitate your transportation and shipping decisions when dealing with multiple SKUs being shipped in one container.
July 1, 2005
Over the past few years, the pharmaceutical and medical device markets in the Philippines have been growing 6-8 percent annually. Both the pharmaceutical and medical device markets are largely made up of imported products, valued at around $300 million and $75 million, respectively. Currently, the U.S. has a limited presence in the Philippines’ pharmaceutical market, holding less than eight percent of the market share; the U.K., Germany, France and Switzerland each hold around 10 percent. However, since the Philippines’ drug regulatory body, the Bureau of Food and Drugs (BFAD), adopted U.S. Pharmacopoeia standards, U.S. pharmaceuticals should continue to have good market potential. Companies such as Pfizer, Wyeth and Eli Lilly all have a presence in the Philippines’ drug market. The U.S. plays a larger role in the Philippines’ medical device industry, currently possessing about 35 percent of the market.
August 1, 2001
Despite sluggish economies in some countries, Asia still represents future growth opportunities in healthcare products. Over the next 20 years, Asian healthcare markets are expected to grow at a rate two and a half times that of the West. A rising standard of living throughout the region means patients will have the resources to acquire modern medical devices and pharmaceuticals. As the globalization of healthcare continues, regulatory practices for pharmaceuticals and medical devices will be further harmonized. This report examines emerging regulatory trends and issues in China, Japan, Hong Kong, India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand.
March 1, 2000
The Asian pharmaceutical market is constantly expanding with Korea, Japan and Taiwan leading the way. The Philippines is no exception and it is currently the fourth largest pharmaceutical market in Asia. In 1999 alone, the Filipino pharmaceutical market saw a 5% increase. The Pharmaceutical Healthcare Association of the Philippines (PHAP), an association comprised of local and multinational manufacturers, traders, distributors, and retailers, has set the standards for product registration in the Philippines. This article lists requirements for initial and conditional product registration in the Filipino pharmaceutical market.
December 1, 1999
After the Asian financial crisis, the Philippine government pushed for economic reforms, bringing the economy’s growth rate to 3.8% in the second quarter of 1999. As the government continues its economic reforms, the government is further deregulating its market, making it more open to medical imports. The Philippines’ medical equipment market was worth $51 billion in 1998 and will continue to increase due to increased utilization of medical equipment and various other products. Currently, medical device product registration is required for each product and is overseen by the Bureau of Food and Drugs in the Department of Health. This article gives a detailed update of the medical device market in the Philippines and explains the requirements for medical device registration and renewal.
July 1, 1998
Despite its currency crisis, Asia still offers manufacturers many opportunities.
Asia's recent currency crisis has caused some U.S. medical device companies to wonder whether there is still a market for their products and services. Concern has risen that Asians have lost their purchasing power, meaning a decrease in U.S. exports to Asia and an unstable economic environment in which to invest. However, not all manufacturers have fled the region. Several companies feel that the crisis has opened new opportunities for manufacturing in Southeast Asia.
May 1, 1994
This article gives an overview of the growing prospects for foreign companies in the Philippine medical device market. The government and the Department of Health (DOH) are encouraging greater investment of medical equipment, devices and pharmaceuticals under the proposed Investment Priorities Plan (IPP). The medical equipment market, medical instrument sector and the Department of Health’s national healthcare system are some of the topics covered.
January 1, 1992
A basic guide to conducting business in China, Japan and Southeast Asia. Topics include personal and business relationships, negotiating, gift-giving, body language, introductions and language and cultural differences.
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