Sales value of pharmaceuticals Philippines 2018-2024

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.

 Sales of most important drugs in the Philippines

In the Philippines, medicines that have the most significant impact were those that prevented and treated the leading cause of mortality: cardiovascular illness. As a result, the sales value of cardiovascular pharmaceuticals has seen significant growth since 2007.