Philippines Dermatology Drugs Market Analysis Report 2022 to 2030

Philippines Dermatology Drugs Market Analysis

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By 2030, it is anticipated that the Philippines Dermatology drugs market will reach a value of $xx Mn from $37 Mn in 2022, growing at a CAGR of xx% during 2022-30. The market is primarily dominated by local players such as Unilab, Mercury Drug Corporation, and Southstar Drug. The market is driven by medical tourism, awareness about dermatological health, and government regulations. The dermatology drug market in the Philippines is segmented by drug class, drug type, prescription mode, indication, route of administration, end-user, and distribution channel.

ID: IN10PHPH008 CATEGORY: Pharmaceuticals GEOGRAPHY: Phillipines AUTHOR: Dr. Vishwa Modhia

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Philippines Dermatology Drugs Market Analysis Summary

By 2030, it is anticipated that the Philippines Dermatology drugs market will reach a value of $xx Mn from $37 Mn in 2022, growing at a CAGR of xx% during 2022-30.

In the Philippines, several skin diseases are prevalent, including atopic dermatitis, which is estimated to affect around 10% of the population. Between the ages of 12 and 24, 85% of Filipinos are thought to suffer from acne. Approximately 2% of Filipinos are thought to have psoriasis. In the Philippines, vitiligo is thought to affect 1% of the population.

The most common treatments used for dermatological complaints are topical (71.1%), methotrexate (25.4%), biologics (4%), and steroids (2.3%). The Current health expenditure of the Philippines in 2019 was 4.1% of the GDP. In the Philippines, there are 146 dermatology clinics. The dermatology market in the Philippines has seen a number of notable deals and partnerships in recent years, demonstrating the market's growing vibrancy for new businesses.

philippines dermatology drugs market analysis

Market Dynamics

Market Growth Drivers

There will be an increase in dermatology consultations in the Philippines because it is a developing destination for medical tourists. To make access to medical consultations more convenient, the Philippine government and private businesses have launched telemedicine programs.

One of the main factors propelling the market's expansion is the rise in skin conditions like acne, psoriasis, and eczema, as well as a growing population, rising disposable income, and these conditions.

Market Restraints

Despite having a developing economy, the Philippines still has a sizable portion of the population without access to quality dermatology care. There have been reports of fake dermatology drugs being sold in the Philippines, where the market for counterfeit medications is sizable. This is a significant worry for patients and may undermine consumer confidence in the market as a whole. These factors may discourage new entrants from the Philippine dermatology drug market.

Competitive Landscape

Key Players

Unilab (PHL)
Mercury Drug Corporation (PHL)
Southstar Drug (PHL)
Generika Drugstore (PHL)
Watsons Philippines (PHL)
The Generics Pharmacy (PHL)
GlaxoSmithKline
Pfizer
Sanofi
Johnson & Johnson

Healthcare Regulations and Reimbursement Policies

The Food and Drug Administration (FDA) Philippines is the regulatory body in charge of regulating dermatological drug approval, distribution, and use in the country. The FDA is a government organization that reports to the Department of Health (DOH) and is in charge of ensuring the quality, safety, and efficacy of healthcare products in the Philippines, including dermatological medications. To guarantee that dermatological drugs are used in the nation safely and effectively, the FDA evaluates and approves new drugs, monitors side effects, and enforces regulations.

The Philippine Government signed Republic Act 11223 or the Universal Health Care (UHC) Law in 2019, allowing all Filipinos, including overseas Filipino workers (OFWs), access to healthcare services under the government’s health insurance program (PhilHealth).In the Philippines, reimbursement for dermatology drugs is provided through the Philippine Health Insurance Corporation (PhilHealth), which is the country's national health insurance scheme.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Dermatology Drugs Market Segmentation

The Dermatology Drugs Market is segmented as mentioned below

By Disease (Revenue, USD Billion):

Psoriasis
Acne Vulgaris
Atopic Dermatitis
Eczema
Rosacea
Itchthyosis
Vitiligo
Others

By Route Of Administration (Revenue, USD Billion):

Oral
Parenteral
Topical

By Distribution Channel (Revenue, USD Billion):

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.