Philippines Genomic Diagnostics Market Analysis

Philippines Genomic Diagnostics Market Executive Summary

Philippines Genomic Diagnostics Market was valued at $71.83 Mn in 2023 and is predicted to grow at a CAGR of 17% from 2023 to 2030, to $215.58 Mn by 2030. 

Genomic diagnostics is a rapidly evolving field that uses an individual's genetic information to diagnose diseases, assess predisposition to future health problems, and guide treatment plans by analyzing DNA or RNA for disease-linked variations. This includes karyotyping to examine chromosome abnormalities, targeted mutation analysis for specific disease-related genes, and next-generation sequencing (NGS) for a comprehensive genetic analysis. Applications encompass disease diagnosis, carrier testing for informed family planning, predictive testing for disease risk assessment, and pharmacogenomics for personalized medication treatments. The benefits of genomic diagnostics include early disease detection, personalized medicine, and improved disease management and prognosis.

Chronic diseases pose a formidable and multifaceted health challenge in the Philippines, exerting a significant burden on individuals, families, healthcare systems, and the economy. Noncommunicable diseases (NCDs) account for a staggering 68% of all deaths in the country, highlighting the urgent need for comprehensive strategies to address these conditions. According to data from the World Health Organization (WHO), a staggering 511,748 Filipinos lost their lives to NCDs in 2019 alone. This statistic is particularly alarming when considering that 72% of these deaths occurred among women, and 68% among men, underscoring the pervasive impact of NCDs across gender lines.

Market is therefore driven by significant factors like high prevalence of genetic disorders, technological advancements, and increased healthcare expenditure. However, high cost of genetic testing, limited infrastructure, and data privacy concerns restrict the growth and potential of the market.

A prominent player in this field is Illumina, which has partnered with AstraZeneca to leverage genomics and AI for faster drug development by identifying new therapeutic targets and biomarkers, 23andMe acquired Lemonaid Health to enhance its personalized healthcare offerings through telehealth and prescription drug delivery services based on genetic information. Other contributors include Myriad Genetics, and Amgen among others.

Market Dynamics

Market Growth Drivers

High Prevalence of Genetic Disorders: The Philippines has a significant incidence of genetic disorders, which drives the demand for genomic diagnostics. For instance, around 1 in 1,000 individuals in the Philippines is estimated to have a genetic disorder, leading to an increased need for diagnostic testing.

Technological Advancements: The market is benefiting from rapid advancements in genetic testing technologies. The global genomics market is projected to grow from $46.2 Bn in 2023 to $83.1 Bn by 2028, at a CAGR of 12.4%. This growth reflects the increasing adoption of technologies like next-generation sequencing (NGS) and polymerase chain reaction (PCR).

Increased Healthcare Expenditure: Healthcare expenditure in the Philippines has been on the rise, which supports the growth of the genomic diagnostics market. The total healthcare spending is expected to reach approximately $19.5 Bn by 2025, indicating a growing investment in healthcare infrastructure, including genomic diagnostics.

Market Restraints

High Cost of Genetic Testing: The cost of genomic diagnostics remains a significant barrier. The average cost of genetic tests can range from $500 to $2,000, making it inaccessible for many individuals in the Philippines, where the average monthly income is around $300.

Limited Infrastructure: In rural areas of the Philippines, healthcare infrastructure is often inadequate, limiting access to advanced genomic testing services. Approximately 60% of healthcare facilities are concentrated in urban areas, leaving rural populations underserved.

Data Privacy Concerns: Concerns about data privacy and the handling of genetic information may deter individuals from undergoing genetic testing. A study found that over 40% of respondents expressed concerns about the confidentiality of their genetic data.

Regulatory Landscape and Reimbursement Scenario

The Philippines is gradually developing its regulatory framework for genomics, with the Food and Drug Administration (FDA) and the Department of Health (DOH) playing key roles. The FDA oversees the regulation of medical devices, including in vitro diagnostics like genomic tests, ensuring their safety and efficacy. The DOH is responsible for setting healthcare policies and standards, which includes developing guidelines for the integration of genomics into healthcare services.

Reimbursement for genomic diagnostics in the Philippines is still emerging, with varied mechanisms across public and private healthcare sectors. The Philippine Health Insurance Corporation (PhilHealth), the primary government health insurer, provides limited coverage for genomic diagnostics, depending on the specific test and its clinical utility. Private health insurance plans offer varying levels of coverage, while a significant portion of healthcare costs, including genomic diagnostics, is often borne out-of-pocket by patients, posing financial challenges for many.

Competitive Landscape

Key Players

Here are some of the major key players in the Philippines Genomic Diagnostics

• Illumina, Inc.
• Myriad Genetics, Inc.
• Amgen, Inc.
• 23andMe
• PHIX Genomics
• Philippine Genome Center
• Department of Science and Technology
• Roche Diagnostics
• Abbott Laboratories
• Danaher Corporation