The import of vaccines for human use to the Philippines stood at 220 million US dollars in 2023. Forecasts indicate a steady year-on-year increase in import value from 2024 to 2028. Specifically, the value is expected to grow by 3.62% in 2024, 3.62% in 2025, and 3.43% in 2026. This trend continues with a 3.25% increase in 2027 and 3.08% in 2028. The compound annual growth rate (CAGR) over this period is approximately 3.40%, indicating consistent growth in the importation of vaccines over the next five years.
Looking to the future, several trends should be monitored: the global supply chain stability for vaccine production, potential changes in national health policies and budgets, emerging diseases or health concerns that could impact vaccine demand, and advancements in vaccine technology. These factors will play crucial roles in shaping the import landscape for vaccines in the Philippines.
