Philippines Adult Malignant Glioma Therapeutics Market Analysis

Philippines Adult Malignant Glioma Therapeutics Market Executive Summary

The Philippines Adult Glioma Therapeutics Market is valued at around $5 Mn in 2022 and is projected to reach $10 Mn by 2030, exhibiting a CAGR of 9.4% during the forecast period.

Malignant gliomas are the most common subtype of primary brain tumours. They are believed to be among the deadliest malignancies due to their aggressive nature, high degree of invasiveness, and capacity to damage nerve tissue. Glioblastoma multiforme (GBM), oligodendroglioma, and astrocytoma are the three types of adult-type diffuse gliomas. Of all brain tumours, GBMs, or high-grade astrocytomas, are the most aggressive. Radiation therapy, chemotherapy, and surgery are currently the only available treatments for GBM; nevertheless, their survival benefits are marginal. Research is being conducted in emerging fields such as fluorescence-assisted tumour removal, three-dimensional (3D) imaging, thermo-radiotherapy, moderate electro-hyperthermia, and adjuvant temozolomide (post-operative chemotherapy). Additionally, advances have been made in the fields of molecular biology, virotherapy, and immunology.

Adult malignant glioma occurrences in the Philippines are found to have a mean patient age of 41.7 years and a mean symptom duration of 13.2 months. Filipinos have a significantly greater mortality rate from Glioma than those in other nations worldwide. The market is expanding due to trends in innovative therapeutics, growing government funding, and the lack of regional competitors, which presents chances for new drugs to fill unmet needs.

For important glioma therapy medications like Temozolomide and Avastin (bevacizumab), which are used in conventional regimens, Roche and Merck have the largest market shares. Local producers of pharmaceuticals have a limited presence in the market, especially when it comes to generic copies of well-known glioma medications like temozolomide.

Market Dynamics

Market Drivers

Developments in the Worldwide Context: Personalized medicine, immunotherapy, and targeted medicines are among the growing trends in the Global Adult Glioma Therapeutics Market. The Philippines' unique treatment alternatives will become more widely available as a result of expanded insurance coverage and governmental approvals, which will propel market expansion.

Absence of Local Players: If new medications successfully address unmet requirements and offer competitive prices, they have the potential to grab a considerable market share in an environment with little local competition. There is a growing need for efficient treatment alternatives due to the increased occurrence of gliomas and greater awareness of them. Novel drugs can meet this need by launching cutting-edge treatments and tailored health strategies.

Government Initiatives: The market for glioma therapies may benefit from the Philippine government's growing emphasis on enhancing healthcare facilities and providing citizens access to reasonably priced medications. Market accessibility can be increased by programs like PhilHealth's expansion of cancer treatment coverage and the acquisition of cutting-edge medical equipment by public institutions.

Market Restraints

Filippino Behaviour: It is said that before seeing doctors, Filipinos prefer to seek out traditional healers. Believing that traditional healing methods may effectively treat neurological diseases, such as glioma, might cause people to put off getting a diagnosis and consulting a doctor. Individuals who receive short-term or unrelated alleviation from traditional healers may be less likely to seek out regular medical care, which includes glioma treatments. This lowers the size of the possible market for these medications. Delays can be harmful since gliomas are aggressive tumours that need to be treated right away to improve the prognosis. This will eventually lead to decreased demand for some therapeutics.

Economic Burden: The middle class is growing gradually due to economic expansion, better access to opportunities, and education. Even with these advancements, 20% of people live in poverty, with the majority of these people living in rural regions. This emphasizes the necessity of additional social safety nets and economic growth. Individuals without health insurance who cannot afford new prescriptions will look for less expensive alternatives.

Healthcare system fragmentation: In the Philippines, Glioma treatment distribution and market access are severely hampered by a fragmented healthcare system. The procurement procedures, rules, and reimbursement systems that are unique to each organization lead to disparities and complications in the availability of drugs. The availability and results of therapy are uneven as a result of this unequal access.

Healthcare Policies and Regulatory Landscape

In pursuit of universal health coverage, the Philippines traverses a challenging healthcare environment under the direction of the Philippine Health Agenda. The Department of Health (DOH), the Food and Drug Administration of the Philippines (FDA), and Philippine Health Insurance Corporation (PhilHealth) are in charge of regulating, while important laws like the Medicines Act and National Health Insurance Act provide the foundation. Without FDA permission, no medication may be lawfully promoted or sold in the Philippines. It involves data analysis, clinical studies, thorough quality and safety evaluations, and monitoring. The FDA closely monitors medications that are already available to the public, looking into any possible side effects and, if required, initiating recalls. Consider them as investigators searching for any strange medical enigmas. To ensure openness and safeguard consumers, the FDA creates rules and standards for the production, labeling, and advertising of pharmaceuticals.

Competitive Landscape

Key Players

• Roche
• Novartis
• Merck & Co.
• Pfizer
• Bristol-Myers Squibb
• AbbVie
• Novocure
• Unilab
• Generika
• Mercury