The Philippines Pharmaceutical Market: Opportunities for Foreign Companies

The pharmaceutical market in the Philippines is expected to grow 5% this year, to $294 million. Poverty and pollution both help to contribute to especially high incidences of diseases such as respiratory infections, cardiovascular disease, and diseases of the central nervous system. Thus, pharmaceuticals that treat these illnesses are in particularly high demand. Pharmaceutical products are sold primarily through drug stores, with hospitals, supermarkets, and corner stores also serving as retail outlets.

Most large U.S. pharmaceutical companies, including Pfizer, Eli Lilly, and Abbott Laboratories are represented in the Philippines. Market entry for U.S. producers is relatively easy, as the Philippines’ Bureau of Food and Drug uses U.S. pharmacopoeia. Switzerland has the largest share of the Philippines’ market with 11 percent, followed by the U.S. and Germany with 10 percent of the market each.