Name: Healthcare

Icon: /photos/committee/icon/7/icon-healthcare.png

Content: <p>The past years have seen a renewed focus on healthcare in the Philippines in an effort to provide a more inclusive national healthcare system.  </p> <p>The Kalusugang Pangkalahatan (KP), or Universal Healthcare (UHC), launched by President Aquino in 2010 prioritized improvements in three strategic areas: health financial risk protection, health service delivery, and the attainment of Philippine MDGs.161 Additionally, government healthcare expenditure has increased, with the DOH currently enjoying one of the largest budgets in the government, namely 84 billion PhP.</p> <p><br /> Market trends also show an increased focus on healthcare; in fact, in 2013 the Philippine pharmaceutical market generated over 127.34 billion PhP in revenues, making it the third largest market in the ASEAN region. This reflects an increased spending per capita, which was estimated at 4,201.37 PhP per year in 2011, up from just 1478.79 PhP in 2001.163 The ethical pharmaceuticals market also enjoyed a 6% annual growth rate in 2013, the highest rate in five years.164 Similarly, generic medicines are becoming more popular among Filipino patients as perceptions on them begin to change.</p> <p>While foreign pharmaceutical companies captured approximately 62% of the revenue share in the Philippines in 2011,166 manufacturing pharmaceuticals products, including those for foreign companies, is dominated by one domestic manufacturer.</p> <p><br /> R.A. 10606, otherwise known as the National Health Insurance Act of 2013, was a major reform for the healthcare, and effectively the pharmaceutical, sector as it aims to increase the reach of the national health insurance scheme PhilHealth to all Filipinos. By early 2014, it was estimated that 83% of Filipinos were registered in the system, which reflected an increase of 100% as compared to 2008. However, approximately only 73% of Filipinos were actually covered.</p> <p>In terms of forecasts for the Philippine pharmaceuticals market, it is expected that spending on medicines will continue to grow in the coming years, reaching a national pharmaceuticals market of 8 billion USD by 2020, with a CAGR of 9.4%.</p> <p><a href="http://www.epbn.ph/publications/download?file_name=EPBN_Business_Primer_Teaser_-_Healthcare_and_Pharmaceuticals.pdf&amp;id=13">Click here to download A Brief Overview of the Philippine Healthcare & Pharmaceuticals Industry »</a></p>

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