The Philippine pharmaceutical market is projected to generate $1.96-billion revenues in 2025, led by rising demand for affordable generic medicines and government efforts to expand healthcare access.
The local pharmaceutical sector is also expected to sustain an annual growth rate of 4.36 percent.
The Board of Investments (BOI) presented these forecasts at a meeting of the Pharmaceutical and Healthcare Association of the Philippines (PCPI).
Ma. Corazon Halili-Dichosa, executive director of the BOI’s Industry Development Services, cited the need to strengthen local manufacturing.
“In light of the many developments across the pharmaceutical value chain, we encourage the industry to work closely with the government to strengthen the industry to serve the population’s needs, especially in times of epidemics and pandemics,” she said.
The Integrated Roadmap for the Philippine Pharmaceutical Industry (IRPPI) aims to boost local manufacturers’ capacity to produce 60 percent of the country’s registered medicines by 2030 and build a resilient, innovation-driven sector.
Recent developments include the release of guidelines for “Pharmazones” by the Philippine Economic Zone Authority (PEZA), the finalization of the Tatak Pinoy Strategy and a Food and Drug Administration (FDA) order simplifying pharmaceutical exports.
Dichosa said that while the local market is expanding, the Philippines remains highly import-dependent. Imports rose 5 percent in the first half of 2025 compared to the same period last year, while exports dropped 25 percent.
FDA director-general Paulo Luis Teston said the agency is accelerating reforms in digitalization, backlog reduction and workforce expansion to improve regulatory responsiveness.
PCPI said the market outlook indicates a strong potential for the Philippines to enhance its pharmaceutical security and ensure Filipinos have access to affordable, high-quality medicines.
According to data aggregator Statista, oncology drugs are expected to be the largest segment in the Philippine market, with a projected volume of $309.97 million next year.
