Please Wait.....
Report
Philippines OTC Pharmaceutical Market Report and Forecast 2024-2032
Market Report (7 Days) I 2024-04-09 I 120 Pages I EMR Inc.
Philippines OTC Pharmaceutical Market Report and Forecast 2024-2032
Philippines OTC Pharmaceutical Market Overview
The Philippines over the counter (OTC) pharmaceuticals market is estimated to grow at a compound annual growth rate (CAGR) of 5.2% during the forecast period of 2024-2032.The market is driven by the increasing demand for self-medication, the rising prevalence of chronic and lifestyle diseases, the growing awareness and accessibility of OTC products, and the favorable government policies and regulations.
Philippines OTC Pharmaceutical Market Drivers and Constraints
- The increasing demand for self-medication is one of the major drivers of the OTC pharmaceuticals market in the Philippines. The consumers are becoming more health-conscious and empowered to manage their own health conditions, especially for minor ailments and common symptoms. The availability and affordability of OTC products, as well as the convenience and time-saving benefits of self-medication, are also encouraging the consumers to opt for OTC products.
- The rising prevalence of chronic and lifestyle diseases, such as diabetes, hypertension, cardiovascular diseases, respiratory diseases, and obesity, is another key driver of the market. These diseases require long-term and continuous treatment, which can be costly and inconvenient for the patients. OTC products can provide an alternative and complementary option for the patients to manage their symptoms and improve their quality of life.
- The growing awareness and accessibility of OTC products is also a significant driver of the market. The consumers are becoming more informed and educated about the benefits, safety, and efficacy of OTC products, thanks to the various promotional and educational campaigns by the government, the industry, and the media. The accessibility of OTC products is also improving, as they are widely distributed through various channels, such as pharmacies, drugstores, supermarkets, convenience stores, and online platforms.
- The favorable government policies and regulations are also supporting the growth of the OTC pharmaceuticals market in the Philippines. The government has implemented several initiatives to promote the rational use of OTC products, such as the Generics Act of 1988, the Philippine National Drug Formulary, the Food and Drug Administration Act of 2009, and the Universal Health Care Act of 2019. These initiatives aim to ensure the quality, safety, and affordability of OTC products, as well as to increase the access and coverage of health care services for the population.
- The lack of awareness and trust in some OTC products, especially among the rural and low-income segments, is also a barrier for the market growth. The regulatory uncertainties and barriers, such as the lengthy and complex approval process, the frequent changes in the classification and labeling of OTC products, and the lack of harmonization with the regional and international standards, are also hindering the market development. The counterfeit and substandard products, which pose a threat to the health and safety of the consumers, as well as to the reputation and credibility of the industry, are also a challenge for the market.
Philippines OTC Pharmaceutical Market Trends and Developments
- Rising Health Awareness: There is a growing trend of self-medication among Filipinos, driven by increasing health consciousness and easy access to information about health and wellness through the internet and social media.
- Expanding Middle Class: The expanding middle class in the Philippines, with higher disposable incomes, is more inclined to spend on healthcare products, including OTC medications, for maintaining health and preventing illness.
- Growth of Pharmacy Retail Chains: The expansion of pharmacy retail chains across the country is improving the availability and accessibility of OTC pharmaceuticals, contributing to market growth.
- Digital Transformation: The rise of e-commerce and online pharmacies is making it easier for consumers to purchase OTC medications, with the convenience of home delivery and online consultations.
- Regulatory Environment: The Philippine Food and Drug Administration (FDA) plays a crucial role in regulating OTC pharmaceuticals, ensuring product safety and efficacy. Recent regulatory reforms and streamlined processes are expected to positively impact the market.
- Increasing Demand for Herbal and Natural Products: There is a growing preference for herbal and natural OTC products, driven by the perception of fewer side effects and a focus on holistic wellness.
- Product Innovation and Diversification: Manufacturers are continuously innovating and diversifying their product offerings to meet consumer demand for a wide range of OTC medications, including those for pain relief, cold and flu, digestive health, and vitamins and supplements.
- Health and Wellness Trends: The increasing focus on preventive healthcare and wellness is driving the demand for OTC products that support immune health, energy levels, and overall well-being.
Philippines OTC Pharmaceutical Market Segmentation
Market Breakup by Product Type
- Pain Relievers
- Anti-allergic
- Gastrointestinal Drugs
- Vitamins and Minerals
- Cough and Cold Remedies
- Others
Market Breakup by Distribution Channel
- Retail Pharmacies
- Online Pharmacies
- Drug Stores
Market Breakup by Formulation Type
- Tablets
- Liquids
- Ointments
- Sprays
Philippines OTC Pharmaceutical Market: Competitive Landscape
The OTC pharmaceuticals market in the Philippines is highly competitive and fragmented, with the presence of several local and international players. The key players in the market include Johnson & Johnson, GlaxoSmithKline, Bayer AG, Pfizer Inc., Sanofi, Novartis International AG, Procter & Gamble, Reckitt Benckiser Group plc, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim, Sun Pharmaceutical Industries Ltd., Perrigo Company plc, Teva Pharmaceutical Industries Ltd., Mylan N.V. (now part of Viatris Inc.) and Cipla Limited.
These players compete on the basis of product quality, safety, efficacy, price, innovation, distribution, marketing, and customer service. The key players also engage in various strategic initiatives, such as mergers and acquisitions, joint ventures, partnerships, collaborations, product launches, expansions, and investments, to strengthen their market position and expand their market share.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage - Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Philippines OTC Pharmaceutical Market Overview
3.1 Philippines OTC Pharmaceutical Market Historical Value (2017-2023)
3.2 Philippines OTC Pharmaceutical Market Forecast Value (2024-2032)
4 Philippines OTC Pharmaceutical Market Dynamics
4.1 Market Drivers and Constraints
4.2 SWOT Analysis
4.2.1 Strengths
4.2.2 Weaknesses
4.2.3 Opportunities
4.2.4 Threats
4.3 Porter's Five Forces Model
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitutes
4.3.5 Degree of Rivalry
4.4 Key Demand Indicators
4.5 Key Price Indicators
4.6 Industry Events, Initiatives, and Trends
4.7 Value Chain Analysis
5 Philippines OTC Pharmaceutical Market Segmentation
5.1 Philippines OTC Pharmaceutical Market by Product Type
5.1.1 Market Overview
5.1.2 Pain Relievers
5.1.3 Anti-allergic
5.1.4 Gastrointestinal Drugs
5.1.5 Vitamins and Minerals
5.1.6 Cough and Cold Remedies
5.1.7 Others
5.2 Philippines OTC Pharmaceutical Market by Distribution Channel
5.2.1 Retail Pharmacies
5.2.2 Online Pharmacies
5.2.3 Drug Stores
5.3 Philippines OTC Pharmaceutical Market by Formulation Type
5.3.1 Market Overview
5.3.2 Tablets
5.3.3 Liquids
5.3.4 Ointments
5.3.5 Sprays
6 Patent Analysis
6.1 Analysis by Type of Patent
6.2 Analysis by Publication Year
6.3 Analysis by Issuing Authority
6.4 Analysis by Patent Age
6.5 Analysis by CPC Analysis
6.6 Analysis by Patent Valuation
6.7 Analysis by Key Players
7 Grants Analysis
7.1 Analysis by Year
7.2 Analysis by Amount Awarded
7.3 Analysis by Issuing Authority
7.4 Analysis by Grant Application
7.5 Analysis by Funding Institute
7.6 Analysis by NIH Departments
7.7 Analysis by Recipient Organization
8 Funding Analysis
8.1 Analysis by Funding Instances
8.2 Analysis by Type of Funding
8.3 Analysis by Funding Amount
8.4 Analysis by Leading Players
8.5 Analysis by Leading Investors
8.6 Analysis by Geography
9 Partnership and Collaboration Analysis
9.1 Analysis by Partnership Instances
9.2 Analysis by Type of Partnership
9.3 Analysis by Leading Players
9.4 Analysis by Geography
10 Regulatory Framework
10.1 Regulatory Overview
11 Supplier Landscape
11.1 Johnson & Johnson
11.1.1 Financial Analysis
11.1.2 Product Portfolio
11.1.3 Demographic Reach and Achievements
11.1.4 Mergers and Acquisitions
11.1.5 Certifications
11.2 GlaxoSmithKline
11.2.1 Financial Analysis
11.2.2 Product Portfolio
11.2.3 Demographic Reach and Achievements
11.2.4 Mergers and Acquisitions
11.2.5 Certifications
11.3 Bayer AG
11.3.1 Financial Analysis
11.3.2 Product Portfolio
11.3.3 Demographic Reach and Achievements
11.3.4 Mergers and Acquisitions
11.3.5 Certifications
11.4 Pfizer Inc.
11.4.1 Financial Analysis
11.4.2 Financial Portfolio
11.4.3 Demographic Reach and Achievements
11.4.4 Mergers and Acquisitions
11.4.5 Certifications
11.5 Sanofi
11.5.1 Financial Analysis
11.5.2 Product Portfolio
11.5.3 Demographic Reach and Achievements
11.5.4 Mergers and Acquisitions
11.5.5 Certifications
11.6 Novartis International AG
11.6.1 Financial Analysis
11.6.2 Product Portfolio
11.6.3 Demographic Reach and Achievements
11.6.4 Mergers and Acquisitions
11.6.5 Certifications
11.7 Procter & Gamble
11.7.1 Financial Analysis
11.7.2 Product Portfolio
11.7.3 Demographic Reach and Achievements
11.7.4 Mergers and Acquisitions
11.7.5 Certifications
11.8 Reckitt Benckiser Group plc
11.8.1 Financial Analysis
11.8.2 Product Portfolio
11.8.3 Demographic Reach and Achievements
11.8.4 Mergers and Acquisitions
11.8.5 Certifications
11.9 Takeda Pharmaceutical Company Limited
11.9.1 Financial Analysis
11.9.2 Product Portfolio
11.9.3 Demographic Reach and Achievements
11.9.4 Mergers and Acquisitions
11.9.5 Certifications
11.10 Boehringer Ingelheim
11.10.1 Financial Analysis
11.10.2 Product Portfolio
11.10.3 Demographic Reach and Achievements
11.10.4 Mergers and Acquisitions
11.10.5 Certifications
11.11 Sun Pharmaceutical Industries Ltd.
11.11.1 Financial Analysis
11.11.2 Product Portfolio
11.11.3 Demographic Reach and Achievements
11.11.4 Mergers and Acquisitions
11.11.5 Certifications
11.12 Perrigo Company plc
11.12.1 Financial Analysis
11.12.2 Product Portfolio
11.12.3 Demographic Reach and Achievements
11.12.4 Mergers and Acquisitions
11.12.5 Certifications
11.13 Teva Pharmaceutical Industries Ltd.
11.13.1 Financial Analysis
11.13.2 Product Portfolio
11.13.3 Demographic Reach and Achievements
11.13.4 Mergers and Acquisitions
11.13.5 Certifications
11.14 Mylan N.V. (now part of Viatris Inc.)
11.14.1 Financial Analysis
11.14.2 Product Portfolio
11.14.3 Demographic Reach and Achievements
11.14.4 Mergers and Acquisitions
11.14.5 Certifications
11.15 Cipla Limited
11.15.1 Financial Analysis
11.15.2 Product Portfolio
11.15.3 Demographic Reach and Achievements
11.15.4 Mergers and Acquisitions
11.15.5 Certifications
12 Philippines OTC Pharmaceutical Market - Distribution Model (Additional Insight)
12.1 Overview
12.2 Potential Distributors
12.3 Key Parameters for Distribution Partner Assessment
13 Key Opinion Leaders (KOL) Insights (Additional Insight)
14 Company Competitiveness Analysis (Additional Insight)
14.1 Very Small Companies
14.2 Small Companies
14.3 Mid-Sized Companies
14.4 Large Companies
14.5 Very Large Companies
15 Payment Methods (Additional Insight)
15.1 Government Funded
15.2 Private Insurance
15.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
* The coverage of the Market Landscape section depends on the data availability and may cover a minimum of 80% of the total market. The EMR team strives to make this section as comprehensive as possible.
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security