Philippines Age-Related Macular Degeneration Therapeutics Market Report 2022 to 2030

Philippines Age-Related Macular Degeneration Therapeutics Market Analysis

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The Philippines Age-Related Macular Degeneration (AMD) Therapeutics Market was valued at US $24 Mn in 2022 and is predicted to grow at a CAGR of 9.40% from 2023 to 2030, to US $49 Mn by 2030. The key drivers of this industry include the upward trend in the prevalence of age-related macular degeneration, supportive government policies, and other factors. The industry is primarily dominated by players such as Regeneron Pharmaceuticals, Novartis, Bayer, Roche, and Genetech, among others

ID: IN10PHPH427 CATEGORY: Pharmaceuticals GEOGRAPHY: Phillipines AUTHOR: Riddhi Solanki

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Philippines Age-Related Macular Degeneration Therapeutics Market Analysis: Executive Summary

The Philippines Age-Related Macular Degeneration (AMD) Therapeutics Market is at around US $24 Mn in 2022 and is projected to reach US $49 Mn in 2030, exhibiting a CAGR of 9.40% during the forecast period.

Age-related macular degeneration (AMD) is a progressive eye condition that predominantly affects elderly individuals, potentially resulting in significant vision loss. It affects the macula, which is responsible for central vision, and makes activities like reading challenging. Risk factors for AMD include diabetes, smoking, lifestyle changes, and other elements. AMD appears in two main forms: dry AMD and wet AMD. Symptoms include distorted vision, difficulty seeing clearly, and a gradual decline in vision. Dry AMD is more prevalent but progresses more slowly. In contrast, wet AMD, although less common, is more severe and characterized by abnormal blood vessel growth beneath the macula. Treatment options include anti-VEGF therapy with medications like Lucentis, Vabysmo, Avastin from Genentech, and Eylea from Regeneron Pharmaceuticals. Additionally, treatment may involve laser therapy and the incorporation of nutritional supplements such as zinc and copper.

It is estimated that the prevalence of AMD is approximately 7%–20% between the age groups of 40–80 years in the Philippines. The market is therefore driven by major factors like an increase in the aging population and the subsequent increase in prevalence, supportive government initiatives, and technological advancements in the therapeutics industry. However, resource constraints and market accessibility are a few factors that limit the market's potential.

Market Dynamics

Market Growth Drivers

Surge in the prevalence of AMD: It is estimated that the prevalence of AMD ranges from around 7%–20% between the age groups of 40–80 years in the Philippines. There is a steady increase in the aging population of the country, which translates into a pool of patients requiring regular treatments, promoting the growth of the market.

Technological advancements: Progress in diagnostic instruments such as optical coherence tomography (OCT) allows for the early and precise identification of AMD, facilitating prompt initiation of treatment. The landscape for AMD therapeutics is progressing, with encouraging advancements like gene therapy and long-acting anti-VEGF medications potentially becoming available in the Philippine market in the future.

Government initiatives: The Philippine Health Insurance Corporation (PhilHealth) offers fundamental healthcare coverage to a majority of citizens, potentially enhancing access to essential AMD services such as eye checkups. With the rise in healthcare expenditure, the government's amplified investment in healthcare establishes a more conducive setting for the acceptance of innovative and costly AMD treatments.

Market Restraints

Resource constraints: The increasing demand for AMD treatments due to the aging demographic has the potential to strain healthcare resources, leading to restricted access. The availability of advanced diagnostic tools and specialized professionals like ophthalmologists is limited in certain regions, impacting the opportunities for diagnosis and treatment and thereby impeding market growth

High cost of treatments: While effective, the cost of anti-VEGF therapies for wet AMD is notably high, frequently surpassing ₱100,000 per injection. This poses substantial affordability challenges for the majority of Filipinos, even with PhilHealth coverage. The frequent intravitreal injections necessary for anti-VEGF therapies may burden patients, causing non-compliance and potentially resulting in adverse effects that restrict market growth.

Limited treatment options: Compared to other nations, there is currently no authorized medication for dry AMD in Philippines, which is the more prevalent type, resulting in considerable unmet demand and limiting the growth of the market.

Notable updates

August 2022, the Philippine Food and Drug Administration (FDA) granted approval to brolucizumab, developed by Novartis, for the treatment of neovascular (wet) age-related macular degeneration (AMD).

Healthcare Policies and Regulatory Landscape

In the Philippines, healthcare regulations and licensing fall under the peer review of the Department of Health (DOH) and the Philippine Health Insurance Corporation (PhilHealth). Obtaining a license for healthcare products in the Philippines necessitates compliance with the regulations set by the DOH and PhilHealth.

To secure approval for healthcare products in the Philippines, companies must adhere to the regulations established by the DOH and PhilHealth. These entities oversee and supervise healthcare services, including the approval and monitoring of medical and healthcare products. Companies seeking registration and marketing authorization for pharmaceuticals and medical devices must obtain approval from the DOH. This involves submitting technical and scientific data to validate the product's safety, quality, and effectiveness.

The healthcare policy and regulatory framework in the Philippines involve various authorities and agencies, with the DOH playing a crucial role in regulating healthcare products. Both the public and private healthcare sectors in the country present diverse opportunities for companies operating within the healthcare industry.

Competitive Landscape

Key Players

Regeneron Pharmaceuticals
Novartis AG
F. Hoffman-La-Roche Ltd
Apellis Pharmaceuticals
AbbVie
Bayer
Pfizer Inc
Regenxbio Inc
Kanghong Pharma
Bausch Health Companies, Inc

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Philippines Age-Related Macular Degeneration Therapeutics Market Segmentation

By Disease Type

Dry AMD
Wet AMD

By Drug

Lucentis
Eylea
Beovu

By Age Group

Less than 60
Between 60-80
More than 80

By Stage

Early AMD
Intermediate AMD
Advanced AMD
No AMD

By Distribution Channel

Hospital Pharmacy
Specialty Pharmacy
Online Pharmacy

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.