Philippines Cancer Immunotherapy Market Report 2022 to 2030

Philippines Cancer Immunotherapy Market Analysis

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The Philippines cancer immunotherapy market is expected to witness growth from $248 Mn in 2022 to $445 Mn in 2030 with a CAGR of 7.6% for the forecasted year 2022-30. Supportive government initiatives to promote cancer treatments and the increasing demand for novel immunotherapy options are the main market drivers. The Philippines cancer immunotherapy market is segmented by type, application, and end user. MedEthix, PHIX Genomics, and Bristol-Myers Squibb are the major players in the Philippines' cancer immunotherapy market.

ID: IN10PHPH032 CATEGORY: Pharmaceuticals GEOGRAPHY: Phillipines AUTHOR: Dr. Parul Choudhary

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Philippines Cancer Immunotherapy Market Executive Analysis

The Philippines' cancer immunotherapy market size is at around $248 Mn in 2022 and is projected to reach $445 Mn in 2030, exhibiting a CAGR of 7.6% during the forecast period. The amount spent on healthcare in the Philippines, known as Current Health Expenditure (CHE), rose by 18.5% from $16 Bn in 2021 to $19 Bn in 2022. This growth was quicker than the 12.8 per cent growth seen the year before. Gross Health Capital Formation Expenditure (HK) was $1.27 Bn in 2022, down 19.6% from $1.58 Bn in 2020, which was reported. The greatest source of health financing in the nation in 2022 was through government programs and mandatory contributing health care financing programs. It was equivalent to $10 Bn, or 50.3% of CHE. In second place with a contribution of $8 Bn (41.5%), household out-of-pocket spending was followed by voluntary health care payment programs with a $1.5 Bn (8.2%) contribution.

Lung cancer has the highest mortality rate of all cancers and is currently the third most common cause of death in the Philippines. According to the president of the Philippine Society of Medical Oncology, there are 184 cancer cases diagnosed in every 100,000 patients, and 96 cancer-related fatalities are reported every day.

In the past, receiving a diagnosis of late-stage cancer meant that the patient would almost always need to undergo lengthy chemotherapy treatments, which are only marginally less lethal than the disease itself. Recent advances in therapy, however, provide a superior option with few side effects and much higher chances for a full recovery and life extension. With the recent approval by the Philippine Food and Drug Administration (FDA) of a ground-breaking medication called pembrolizumab as the first-line treatment for non-small cell lung cancer (NSCLC), a particular type of lung malignancy, the promise of immunotherapy is now a reality for Filipinos. Nothing less than a breakthrough in cancer treatment has been achieved as a result. When doctors employed chemotherapy, the response time in cancer patients was often shorter than five months. It took less than a year while use tailored chemotherapy. However, trials on targeted immunotherapy have shown that 30% of patients had responses lasting longer than two years.

Philippines Cancer Immunotherapy Market Analysis

Market Dynamics

Market Growth Drivers

The Philippine government has taken action to promote the growth of the medical field, especially the field dealing with cancer. The government has launched efforts and programs to promote the creation of novel cancer therapies, such as immunotherapy. In the Philippines, people and healthcare professionals are becoming more aware of the potential advantages of immunotherapy. This is boosting demand for these therapies and resulting in the development of novel immunotherapy drugs in the country. The Philippines has forged partnerships with foreign participants in the healthcare sector, especially those engaged in the creation and marketing of immunotherapy treatments. This is anticipated to fuel the Philippines' cancer immunotherapy market.

Market Restraints

Many Filipinos might not have access to cutting-edge medical facilities or may not be able to afford costly treatments like cancer immunotherapy. This might restrict Philippine's cancer immunotherapy market expansion. The complex regulatory framework for medicines and medical devices in the Philippines could cause delays in the clearance of cancer immunotherapy medications. This may restrict the market's access to certain medications. Cancer immunotherapy research and development may not receive sufficient funding in the Philippines, leaving patients with fewer treatment options and slower market expansion.

Competitive Landscape

Key Players

I.E Medica (PHL)
Fern (PHL)
Vendiz Pharmaceuticals (PHL)
MedEthix (PHL)
PHIX Genomics (PHL)
Bristol-Myers Squibb
ELI Lilly
F Hoffman-La Roche
Janssen
Merck
Novartis

Healthcare Policies and Regulatory Landscape

A national health insurance program that covers cancer treatment is this one. Along with several diagnostic procedures and medications, PhilHealth also covers cancer surgery, chemotherapy, and radiation therapy. There can be restrictions on the amount of coverage supplied, and not all cancer treatments might be covered. In the Philippines, a lot of private health insurance providers cover cancer treatment. Policies for coverage and reimbursement may differ depending on the insurer and the particular policy. While some insurance plans might pay for all cancer treatments, others might have restrictions or exclusions. Patients who lack health insurance or whose plan does not cover specific cancer therapies may be required to make their own financial arrangements. Cancer treatments can be expensive, which may prevent some patients from receiving care. For patients with modest incomes, the Philippine government may offer financial assistance for cancer treatment. Depending on the patient's income level and other factors, these subsidies may cover all or part of the cost of the necessary therapy.

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

Cancer Immunotherapy Segmentation

By Type (Revenue, USD Billion):

Monoclonal Antibodies
Cancer Vaccines
Checkpoint Inhibitors
Immunomodulators
PD-1/PD-L1
CTLA-4

By Application (Revenue, USD Billion):

Lung Cancer
Breast Cancer
Head and Neck Cancer
Prostate Cancer
Colorectal Cancer
Melanoma
Others

By End User (Revenue, USD Billion):

Hospitals
Clinics
Ambulatory Surgical Centers (ASCs)
Cancer Research Centers

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.

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MedEthix, PHIX Genomics, and Bristol-Myers Squibb are the major players in the Philippine's cancer immunotherapy market.

The Philippine's cancer immunotherapy market is expected to grow from $248 Mn in 2022 to $445 Mn in 2030 with a CAGR of 7.6% for the forecasted year 2022-2030.

The Philippines cancer immunotherapy market is segmented by type, application, and end user.