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Philippines OTC Pharmaceutical Market

Philippines OTC Pharmaceutical Market Size, Share, Report: By Product Type: Pain Relievers, Anti-allergic, Gastrointestinal Drugs, Vitamins and Minerals, Cough and Cold Remedies, Others; By Distribution Channel: Retail Pharmacies, Online Pharmacies, Drug Stores; By Formulation Type: Tablets, Others; Supplier Landscape; 2024-2032

Philippines OTC Pharmaceutical Market Outlook

The Philippines OTC pharmaceutical market size market is expected to grow at a CAGR of 5.2% during the forecast period of 2024-2032, driven by the rising demand for convenient and affordable medications for common health concerns across the region.

 

Philippines OTC Pharmaceutical Market Overview

With a large population base, rising health awareness, and access to healthcare services, the demand for OTC pharmaceuticals is experiencing significant surge across Philippines. The Filipino government has made medical sector a priority area of development with an allocation of PHP 296.3 billion in its annual budget. A substantial portion of this budget (around PHP 29.1 billion ), is earmarked for the purchase and distribution of a wide range of pharmaceuticals, including drugs, medicines, vaccines, as well as medical and dental supplies, to government health facilities across the country. As a result, Philippines OTC pharmaceutical market share is poised to witness a notable rise in the forecast period.

 

The OTC drug application across multiple domains including pain relief, allergy treatment, as well as wellness also fuels the market growth. The expansion of drugstores and pharmacies along with rising prevalence for e-commerce is one of the major market trends. In addition, increasing incidence of drugs approvals by regulatory authorities and efforts to improve the healthcare infrastructure and services to aid better outcomes for the population are expected to impact the market value positively in coming years.

 

Surge in Partnerships to Drive Philippines OTC Pharmaceutical Market Growth

In January 2024, STADA Philippines Inc., appointed Zuellig Pharma,  a pioneering healthcare solution provider to distribute their products across Philippines. The alliance is expected to promote over the counter (OTC) drugs and consumer brands such as FERN-C vitamin C range and the Oilatum skincare line in the region. It will also allow easy access to ophthalmology, antibiotics, and cardiovascular medications, which can be helpful to decrease the rising prevalence of cardiac arrest associated deaths.

 

Increasing Integration of Artificial Intelligence to Expedite Drug Development Process

Philippines OTC pharmaceutical market demand is driven by increased efforts to improve the efficacy and quality of drugs. Researchers have been deploying the latest technologies such as machine learning and artificial intelligence to improve efficiency and bring precise solutions to the consumers. In June 2023, BioMed X and Sanofi  launched a joint research venture to leverage artificial intelligence aided drug development. Titled as the “Next Generation Virtual Patient Engine for Clinical Translation of Drug Candidates” (VPE) project, it plans to develop a computational platform that predicts the efficacy of first or best-in-class drug candidates. Following the global trend, Philippines has also been witnessing infrastructure specific improvements to integrate all modern facilities in their research laboratories, which is anticipated to fuel the market value the forecast period.

 

Rising Prevalence for Digital Solutions

Philippines OTC pharmaceutical market size has increased with the continuous economic growth and rising disposable income levels as more people can afford and procure OTC drugs easily. With the sudden COVID-19 outbreak, the demand and application of digital services gained a massive momentum. Consequently, the preference for e-commerce platforms witnessed a surge, owing to variety of facilities such as contactless deliveries along with an array of options to choose from.

 

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 Regional Analysis

Manila, holding a massive portion of educated and urban population, leads the regional market share. With greater access to healthcare services and typically higher disposable incomes, the OTC pharmaceutical consumption is higher in the region. In addition, the presence of supermarkets, convenience stores and other modern retail channels aids an additional opportunity for OTC pharmaceutical organizations.

 

Popular tourist spots such as Boracay, Palawan, and Cebu, are poised to hold to a substantial Philippines OTC pharmaceutical market share in forecast period. The growth can be attributed to increased tourist footfall, leading to higher demand for common medications such as motion sickness medication, sunburn relief and insect repellents.

 

With rising emphasis on developing improved alternatives for the masses, rural and remote areas are also witnessing expedited infrastructure developments. The government along with key healthcare providers are taking critical steps to bridge the gap and provide access to better healthcare facilities.

 

Philippines OTC Pharmaceutical Market: Competitor Landscape

In November 2023, Lloyd Laboratories (a Filipino firm)  and United States based DifGen Pharmaceutical signed a USD 20 million worth partnership to boost the local production of pharmaceuticals in the country. The alliance can be marked as a vital step towards the promotion of a robust local pharmaceutical and healthcare industry. It is also indicative of the current market trend which focuses on increased merger and acquisition activities.

 

The key features of the Philippines OTC pharmaceutical market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

 

  • 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.)
  • Cipla Limited

 

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2017-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Distribution Channel
  • Formulation Type
Breakup by Product Type
  • Pain Relievers
  • Anti-allergic
  • Gastrointestinal Drugs
  • Vitamins and Minerals
  • Cough and Cold Remedies
  • Others
Breakup by Distribution Channel
  • Retail Pharmacies
  • Online Pharmacies
  • Drug Stores
Breakup by Formulation Type
  • Tablets
  • Liquids
  • Ointments
  • Sprays
Market Dynamics
  • Market Drivers and Constraints
  • SWOT Analysis
  • Porter’s Five Forces Model 
  • Key Demand Indicators
  • Key Price Indicators
  • Industry Events, Initiatives, and Trends 
  • Value Chain Analysis
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Financial Analysis
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • 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.)
  • Cipla Limited

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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.
 

Key Questions Answered in the Report

The market is anticipated to grow at a CAGR of 5.2% during the forecast period of 2024-2032, driven by the rising demand for convenient and affordable medications for common health concerns across the region.

The market demand is driven by the increasing preference for self-medication, rising disposable income and infrastructure improvements leading to expansion of drugstores and pharmacies across the region.

Increasing mergers to provide enhanced solutions to the consumers is a major market trend. In January 2024, STADA Philippines Inc., appointed Zuellig Pharma, distribute over the counter (OTC) drugs along with ophthalmology, antibiotics, and cardiovascular medications across the country. 

Based on product types, the market is divided into pain relievers, anti-allergic, gastrointestinal drugs, vitamins and minerals, cough and cold remedies and others.

Tablets, liquids, ointments, and sprays are common formulations available in the market.

Major distribution channels include retail pharmacies, online pharmacies, drug stores and others.

Key players involved in the market are 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.

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