The medicinal and pharmaceutical products import growth rate in the Philippines shows a steady decline from 7% in 2024 to 5.5% by 2028. This declining trend signifies a gradual reduction in the growth rate over these years. Comparing year-on-year variations, there is a noticeable tapering off, with an approximate decrease of 0.4 percentage points annually. The actual growth rate for 2023 was higher than 7%, indicating a more robust import growth in previous years.
Future trends to watch for:
- Potential impact of new healthcare policies and regulations.
- Influence of global economic and geopolitical factors on supply chains.
- Advancements in medical technology and their adoption rates in the Philippines.
- Expansion of local pharmaceutical manufacturing capabilities.
- Shifts in population demographics and healthcare needs.