The Philippines medical devices market was valued at USD 729.56 Million in 2025, driven by the presence of an aging population and increased awareness are driving demand for devices such as prosthetics, hearing aids, and implants across the region. The market is anticipated to grow at a CAGR of 9.00% during the forecast period of 2026-2035, with the values likely to reach USD 1727.13 Million by 2035. In addition, policies like the Universal Health Care Act and the ASEAN Medical Device Directive are enhancing regulatory standards and expanding healthcare access, fostering a more favorable environment for medical device adoption.
Base Year
Historical Period
Forecast Period
The growing elderly population in the Philippines is a major factor fueling the expansion of the medical devices market. By 2055, the midyear population is projected to reach 138.67 million, with the share of those aged 60 and above nearly doubling—from 8.5% in 2020 to 19.6%.
The market growth is influenced by the rising demand for advanced diagnostic, imaging, and therapeutic equipment due to an increasing prevalence of chronic diseases.
Based on application, cardiology holds a significant share due to the high prevalence of cardiovascular diseases in the country. Devices such as pacemakers, stents, and diagnostic imaging equipment are in strong demand as heart disease remains a leading cause of morbidity and mortality.
Compound Annual Growth Rate
9%
Value in USD Million
2026-2035
*this image is indicative*
According to the International Trade Administration, the Philippine medical devices market is heavily import-reliant, with imported products accounting for approximately 99.2% of the market. The United States remains a key supplier, commanding around 12% of the market share. Other major contributors include China, Singapore, Japan, and Germany. Looking ahead, the Philippine medical devices sector presents considerable growth potential, driven by an expanding healthcare infrastructure, particularly in underserved regions like Visayas and Mindanao, and government reforms such as the Universal Health Care (UHC) Act, which aims to enhance healthcare accessibility. In addition, the growth in private healthcare investments and medical tourism, especially in urban centers are also expected to boost market value in the coming years.
Government Incentives to Boost Local Medical Device Manufacturing
The Philippine government is actively promoting local medical device production through strategic initiatives. In August 2024, the Philippine Food and Drug Administration (FDA) and the Philippine Economic Zone Authority (PEZA) signed a Memorandum of Agreement (MOA) to launch the country’s first Pharma-Med Development Hub. This specialized hub is set to attract both domestic and international companies involved in medical device manufacturing, R&D, clinical testing, and trials. Firms operating within the zone will benefit from incentives such as tax breaks and faster regulatory approvals, making the Philippines a more competitive and attractive location for investment. This move is expected to accelerate local production, reduce import dependency, and drive long-term growth in the country’s medical device industry.
Some of the notable market trends include rising prevalence of chronic diseases amongst the aging population.
The market report offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Market Breakup by Application
Market Breakup by End User
Cardiology to Lead the Market Share by Application
According to the Philippine Statistics Authority, the top three causes of death from January to April 2024 were ischemic heart diseases, neoplasms (cancers), and cerebrovascular diseases. This data provides a clear basis for segmenting the medical devices market in alignment with the country’s most critical healthcare needs. Ischemic heart disease accounted for 30,848 deaths (20.2% of total deaths), making it the leading cause of mortality. This highlights a strong demand for cardiovascular medical devices such as pacemakers, stents, defibrillators, and diagnostic imaging tools. Innovations targeting early diagnosis, treatment, and management of heart disease will be critical to meet this demand.
The key features of the market report comprise funding and investment analysis, and strategic initiatives by the leading players. The major companies in the market are as follows:
Medtronic is a global leader in medical technology, offering a broad portfolio of products across multiple therapeutic areas including cardiology, neurology, diabetes care, and spinal and orthopedic devices. In the Philippines, Medtronic is a key player especially in cardiovascular devices such as pacemakers, stents, and cardiac monitors. The company’s strong focus on innovation and patient-centric solutions positions it as a trusted partner in addressing the country’s growing burden of cardiovascular and neurological diseases.
Johnson & Johnson MedTech, a division of the multinational Johnson & Johnson group, provides a wide range of medical devices spanning orthopedics, surgery, cardiovascular care, and diabetes management. In the Philippine market, J&J MedTech is known for its advanced surgical instruments, joint reconstruction implants, and diabetes care products. Their extensive healthcare network and commitment to R&D allow them to offer cutting-edge solutions tailored to local healthcare needs.
Fresenius Medical Care specializes in products and services for dialysis and renal care. It is a dominant player in the Philippines for dialysis machines, consumables, and related patient care services, addressing the high prevalence of chronic kidney disease in the country. Fresenius’ integrated approach combining equipment and clinical support services makes it a vital contributor to improving renal care infrastructure and patient outcomes locally.
Abbott is a global healthcare company with a significant presence in the Philippines, offering a wide range of diagnostic, cardiovascular, diabetes care, and nutrition products. In the medical devices market, Abbott is especially recognized for its diabetes care devices such as glucose monitoring systems, as well as diagnostic tools used in hospitals and laboratories. Their innovations in remote monitoring and patient-friendly technologies help improve chronic disease management and early diagnosis.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other players in the market include GE Healthcare, Koninklijke Philips N.V., Siemens Healthcare GmbH and 3M Company, among others.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by End User |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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