In 2023, the import of medical needles, catheters, and cannulae to the Philippines stood at 4.9 million kilograms. The forecast data indicates a steady year-on-year increase in volume from 2024 to 2028, with values at 5.085 million kilograms in 2024, rising to 5.8558 million kilograms by 2028. The year-on-year percentage variations are as follows:
- 2024: 3.78% (YoY increase from 2023)
- 2025: 3.91%
- 2026: 3.68%
- 2027: 3.48%
- 2028: 3.30%
Over the last two years, the average variation was 3.84%. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is forecasted to be approximately 3.63%.
Future trends to watch for include advancements in medical technology that could increase the efficiency and reduce the size of these products, potentially decreasing import volumes despite rising demand. Regulatory changes and healthcare infrastructure improvements in the Philippines could also impact import volumes and trends.
