In 2023, the import value of Medicinal and Pharmaceutical Products in the Philippines stood at 132.45 billion Philippine Pesos, constant 2018. The projected import values for the years 2024 through 2028 demonstrate a consistent upward trend, reflecting annual values of 137.47, 142.6, 147.62, 152.55, and 157.37 billion Philippine Pesos respectively. Year-on-year percentage increases from 2024 onward are estimated at approximately 3.8% for each year. Notably, the compound annual growth rate (CAGR) from 2023 to 2028 is around 3.8%, indicating steady growth in the imports of these products.
Future trends to watch for include potential impacts from regulatory changes, advancements in pharmaceutical technologies, and shifts in global supply chain dynamics. Monitoring global economic conditions and health sector investment initiatives will be vital for understanding long-term market behavior.