Philippines Medical Market

philippines medical market

The Philippines has a bright future ahead in the global medical device and pharmaceutical sectors. The rapid increase in income among Filipinos, along with the medical industry’s heavy reliance on imports, creates a demand within the country that foreign firms can take advantage of. Pacific Bridge Medical can help medical device and pharmaceutical companies choose the most suitable and effective business and regulatory strategies to penetrate or develop the Filipino market.

Philippines Medical Device Market Size

  • $227 million
  • Projected Growth Rate: 10.7%

Philippines Pharmaceutical Market Size

  • $3.6 billion
  • Projected Growth Rate: 6.4%

Philippines Economic Statistics and Demographics

  • GDP (PPP): $1.03 trillion
  • Per Capita GDP (PPP): $8,951
  • Real GDP Growth Rate: 6.7%
  • Population (millions): 106
  • Ethnic Diversity: 28.1% Tagalog, 13.1% Cebuano, 9% Ilocano, 7.6% Bisaya/Binisaya, 7.5% Hiligaynon Ilonggo, 6% Bikol, 3.4% Waray, 25.3% other
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