Regulatory Services in Philippines
The Philippines, a Southeast Asian country made up of more than 7,000 islands, a population of over 100 million people, making it the 12th most populous country in the world. Philippines is the third-largest economy in ASEAN, behind Thailand and Indonesia. In 2016, the Philippines GDP adjusted for Purchasing Power Parity exceeded $800 billion and is expected to grow to $879 billion in 2017.
The pharmaceutical market in Philippines is expanding at a compound annual growth rate of over 3.5%.
The government has increased healthcare spending. In 2016, the Filipino Department of Health’s budget allocation grew by over 40% compared to the previous year. In 2017, government allocated $2 billion of its $67 billion budget to the Department of Health.
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