The National Development Corporation (NDC), the investment arm of the Philippines Department of Trade and Industry, announced in October 2005 that it would raise P100 million (approximately US$1.8 million) in funding for the government’s national drugstore program. Through this program, which is... Read More
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,... Read More
One of the largest industries in the Philippines is its pharmaceutical market, which earns an estimated P70 billion (US$1.2 billion) per year. The market is dominated by brand name medicines, comprising about 97% of the market. Thus, generic drugs make up only... Read More
With the growth of Asian economies spurring on the expansion of Asian medical markets, medical and pharmaceutical companies in the West are increasingly looking to Asia for outsourcing. Western medical device and pharmaceutical companies have begun to outsource research and development, clinical... Read More
The ASEAN (Association of Southeast Asian Nations) Consultative Committee for Standards and Quality (ACCSQ) was formed in 1992 by the ASEAN Economic Ministers. The purpose of the committee is to eliminate technical barriers to trade and facilitate the objectives of the ASEAN... Read More
Despite the slowing economies, Asia still continues to offer medical device manufacturers many investment opportunities. With information and updates on China, Malaysia, Thailand, the Philippines and ASEAN, this article highlights the benefits and advantages of manufacturing medical devices in Asia. Asian countries... Read More
As Asian countries begin to adopt more western lifestyles and foods, “western” diseases are becoming more prevalent killers in Asia. Economic transition, urbanization, and technological development have brought about lifestyle changes that have increased the chances for heart disease in Asia. Developing... Read More
Foreign pharmaceutical companies control at least 75% of the local drug market in the Philippines. Foreign firms’ market share is divided between several countries, with U.S. producers accounting for about 10% of the market, and Switzerland, Germany, Australia, France, and the U.K.... Read More
The US Trade Development Agency (TDA) estimates that developing countries in Asia will spend over $6 billion on healthcare technology over the next five years. There are at least 25 large-scale healthcare technology projects either underway or on the drawing board in... Read More
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.... Read More