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Emerging Pharmaceutical Market in Indonesia and Philippines Published By MarketResearchReports.biz

Press release   •   Jul 29, 2016 06:24 EDT

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GBI Research’s new report, “Emerging Pharmaceutical Market in Indonesia and Philippines 100% Foreign Direct Investment (FDI) in Indonesia and Extensive Insurance Coverage in the Philippines Attract Foreign Pharma Companies”, provides an in-depth analysis of trends, issues and challenges in the pharmaceutical market in Indonesia and in the Philippines. The report analyzes the overall pharma market structure in these countries, provides competitive benchmarking for the leading companies, and analyzes the M&A and strategic partnerships that shape the Indonesian and Filipino pharmaceutical market. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

The Indonesian pharmaceutical industry exhibited high growth after the government announced a plan to allow 100% foreign ownership of drug firms to increase overseas investment in the sector and thereby raise the volume and quality of local production. The Philippines’ pharmaceutical industry on the other hand witnessed slow growth due to a drug pricing law implemented by the government. The Indonesian pharmaceutical industry has noticeably changed since the approval of the Universally Accessible Cheaper and Quality Medicines Act that includes the Maximum Drug Retail Price (MDRP) scheme. MDRP called for a 50% price reduction for more than 100 drugs.

Indonesia and the Philippines recently joined the ranks of the top 20 most populated countries in the world, meaning they offer huge patient populations. There has been a rise in the incidence of chronic diseases like diabetes, obesity, and cardiovascular disease. Emerging markets such as Indonesia must address the population’s rising demand for healthcare and significant unmet medical needs.

The Philippines’ CRO market is gaining attention globally due to its favorable regulatory environment and huge patient base offered by the country’s large population. However, the Indonesian CRO market is not as favorable for drugs registration procedures, which currently take 300 days after submission to the Indonesian Food and Drug Monitoring Agency (BPOM). Indonesia and the Philippines currently account for a tiny share of the global CMO market but are set to capitalize on increasing outsourcing opportunities from western countries.

Download Sample Copy of This Report at: http://www.marketresearchreports.biz/sample/sample/111071