The global pet care market is foretold to improve in the forthcoming years as matched to the preceding years and will showcase better sales in various market segments. It is estimated that the global pet care market will grow at a CAGR o…
BMI View: There will be broad healthcare policy continuity in the Philippines under President Rodrigo
Duterte. In contrast to his other more controversial positions, Duterte's statements on healthcare are
relatively more nuanced and in line with current policy directions. The appointment of Jean Paulyn Rusell-
Ubial, an experienced official from the Department of Health, as health secretary will serve to further
maintain the status quo. Risks to multinational drugmakers from Duterte's presidency lie instead in his
management of the economy, as out-of-pocket payments are a dominant source of healthcare financing in
Headline Expenditure Projections
- Pharmaceuticals: PHP150.44bn (USD3.33bn) in 2015, rising to PHP156.19bn (USD3.26bn) in 2016;
+3.8% in local currency terms and -2.1% in US dollar terms. Forecast in line with last quarter.
- Healthcare: PHP656.11bn (USD14.52bn) in 2015, rising to PHP722.32bn (USD15.06bn) in 2016;
+10.1% in local currency terms and +3.8% in US dollar terms. Forecast in line with last quarter.