Abstract:
Different forms of alternative medicine are sprouting these days and the
industry of pharmaceutical industry not only in the country but in many parts of
the world is threatened by this growing industry. The study is focused on the
issue of the alternative medicine industry versus the pharmaceutical industry,
whether these types of medicine are really effective, safe and popular to Filipino
consumers, and to determine if there is a bigger effect especially on the national
economy. The hypothesis of the study is that the growing industry of the
alternative medicine in the Philippines does not directly affect the industry of the
pharmaceuticals in the country. In order to have a better understanding of the
issue, archival researches were done in different institutions related to the topic.
Then, to gather information, a survey was made, where questionnaires were
distributed to people randomly selected and the questions were about their
knowledge and use of the alternative forms of medicine and even their other
opinions regarding the subject matter. The findings of the study supported the hypothesis that the growing
alternative medicine industry in the Philippines does not directly affect the
conventional medicine or the pharmaceutical industry. More respondents, from
the survey, still patronize the conventional form of medicine even if there are
already a number of alternative methods available in the local market. The
conclusion and/ or recommendation of the study is based on the idea that the traditional and alternative forms of medicine can somehow work in harmony in
order to compliment one another, not only to benefit the overall performance of
the economy of the country, but also to provide the public with goods and
services that have higher quality but at a lower price.
