Philippines Neurology Clinical Trials Market Report 2022 to 2030

Philippines Neurology Clinical Trials Market Analysis

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The Philippines Neurology Clinical Trials market is projected to grow from $11.5 Mn in 2022 to $18.3 Mn by 2030, registering a CAGR of 6% during the forecast period of 2022 - 2030. The market will be driven by the country's growing clinical trial industry and a large pool of potential study participants. The market is segmented by phase, by study design & by indication. Some of the major players include Novartis AG, Pfizer & Philippine Pharma Solutions, Inc.

ID: IN10PHCT005 CATEGORY: Clinical Trials GEOGRAPHY: Phillipines AUTHOR: Vidhi Upadhyay

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Philippines Neurology Clinical Trials Market Executive Summary

The Philippines Neurology Clinical Trials market is projected to grow from $11.5 Mn in 2022 to $18.3 Mn by 2030, registering a CAGR of 6% during the forecast period of 2022 - 2030. The Philippines is a collection of about 7,100 islands organised into three main island groups: Luzon, Visayas, and Mindanao, with its capital Manila on the biggest island, Luzon. The Philippines has one of the most appealing pharmaceutical marketplaces in Asia-Pacific. With a population of 100 million and an estimated frequency of 0.9%, the Philippines has an estimated 900,000 persons with epilepsy, the majority of whom are in their productive years of life. Dementia affects an estimated 5-8% of the elderly in the Philippines, defined as those aged 60 and over.

The Philippines has a thriving clinical trial sector, with multiple neurological clinical studies underway. Yet, as compared to other therapeutic fields, the number of clinical trials in neurology is quite low. Neurology clinical trials in the Philippines are being done for a variety of neurological disorders, including Parkinson's disease, Alzheimer's disease, epilepsy, and migraine. The nation has a huge population and a high frequency of neurological illnesses, which may benefit clinical research in this field. Global pharmaceutical and biotechnology corporations, as well as local universities, are conducting these studies. One of the clinical trials industry's primary assets in the Philippines is its enormous pool of possible research participants.

Philippines Neurology Clinical Trials Market

Market Dynamics

Market Growth Drivers

The Philippine Council for Health Research and Development (DOST-PCHRD) funds health research, including clinical trials in neurology. The council funds research initiatives aimed at preventing, treating, and controlling significant health issues in the nation. The enormous pool of possible research volunteers is one of the primary drivers of the clinical trial business in the Philippines. The nation offers a vast and diversified population, which may help clinical research in neurology and other therapeutic fields. Also, the cost of conducting clinical trials in the Philippines may be cheaper than in other nations, making the country an accessible option for research.

Market Restraints

There are also some constraints in the Philippines' neurology clinical trials industry. One of the major problems is a lack of infrastructure and resources in certain places, which makes conducting trials in such areas challenging. Moreover, there may be cultural and language hurdles that hinder participant recruitment and retention, especially for multinational organisations conducting trials in the country. Moreover, there may be legislative and administrative barriers that make conducting clinical trials in the nation more challenging, such as delays in getting ethical and regulatory permissions. Another major impediment is the general public's lack of knowledge regarding clinical trials in the Philippines.

Competitive Landscape

Key Players

Novartis AG
Pfizer Inc.
Eli Lilly and Company
Merck & Co., Inc
Philippine Pharma Solutions, Inc. (PHL)
MIMS Clinical Research Organization, Inc (PHL)

Healthcare Policies and Regulatory Landscape

Clinical trials are governed in the Philippines by the Department of Health (DOH) and the Food and Drug Administration (FDA) (FDA). The FDA is a DOH agency in charge of guaranteeing the safety, effectiveness, and quality of food, medicines, cosmetics, and medical devices.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Clinical Trials Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 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

6. Methodology and Scope

Neurology Clinical Trials Market Segmentation

By Phase (Revenue, USD Billion):

Phase I
Phase II
Phase III
Phase IV

By Study Design Outlook (Revenue, USD Billion):

Epilepsy
Parkinson's Disease (PD)
Huntington's Disease
Stroke
Traumatic Brain Injury (TBI)
Amyotrophic Lateral Sclerosis (ALS)
Muscle regeneration
Others

By Indication Outlook (Revenue, USD Billion):

Interventional
Observational
Expanded Access

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.