By 2030, it is anticipated that the Philippines Oncology Therapeutics Market will reach a value of $790 Mn from $400 Mn in 2022, growing at a CAGR of 8.9% during 2022-2030. The Oncology Therapeutics Market in the Philippines is dominated by a few domestic pharmaceutical companies such as Pascual Laboratories, TGP Group, and United Laboratories. The Oncology Therapeutics Market in the Philippines is segmented into different types of cancer and different therapy type. The major risk factors associated with cancer are diet, alcohol, tobacco, air pollution, and physical inactivity. The demand for Philippines Oncology Therapeutics is increasing on account of the rise in initiatives taken by the Government of the country.
By 2030, it is anticipated that the Philippines Oncology Therapeutics Market will reach a value of $790 Mn from $400 Mn in 2022, growing at a CAGR of 8.9% during 2022-30.
Cancer is the second leading cause of mortality in the Philippines, a lower-middle-income country (LMIC) in Southeast Asia with a population of more than 110 Mn people. According to the Department of Health (DOH), cancer affects 189 out of every 100,000 Filipinos, with four Filipinos dying of terminal illness every hour, for a total of 96 cancer patients every day. Cancer was responsible for approximately 150,000 new diagnoses and over 90,000 fatalities in 2020 alone. 1 The Philippine National Integrated Cancer Control Act (NICCA) was signed into law in February 2019.
The NICCA includes provisions for the establishment of national and regional cancer centres, educational initiatives for healthcare professionals and laypeople, psychosocial, supportive, and palliative services, the establishment of a national cancer registry, support for training in and the conduct of cancer research ranging from basic science and clinical investigation to psychological and sociological research, and expanded financial support for patients. The Philippines' government spent 5.1% of its GDP on healthcare in 2020.
Market Growth Drivers
The recent "Hope Matters: Lighting a Path for Better Cancer Care" event attempted to stimulate efforts to put the provisions of the NICCA into action. Tobacco is used by over one-quarter of Filipinos aged 15 and older, placing millions at risk of acquiring cancer. The Philippines' Business Process Outsourcing (BPO) industry is thriving. These aspects could boost the Philippines Oncology Therapeutics Market.
Market Restraints
Despite the prevalence of risk factors such as smoking and the burden of disease caused by cancer, the Philippines still lacks context-specific national screening guidelines and nationwide screening programmes. Due to the COVID-19 pandemic, the Philippine General Hospital expects a three-year backlog of cancer patients. These factors may deter new entrants into the Philippines Oncology Therapeutics Market.
Key Players
April 2022: The Philippine Food and Drug Administration (FDA) recently approved the oral drug Olaparib for the treatment of several diseases, including Advanced Ovarian, Breast, Prostate, and Pancreatic Cancer patients. AstraZeneca Philippines brings this medicine to the country, marking this significant milestone for Filipinos with a stronger push to encourage early medical consultation to assess cancer risk and receive treatment.
In the Philippines, the administrative body liable for the endorsement and guideline of restorative items, including malignant growth therapeutics, is the Food and Medication Organization (FDA). In the public medical services framework, the expense of disease therapies, including malignant growth therapeutics, is covered by the Philippine Health Insurance Corporation (PhilHealth). The PhilHealth Benefit Package covers specific disease therapeutics, including chemotherapy drugs, designated treatment, and immunotherapy. In 2019, the Philippine government signed Republic Act 11223 or the Universal Health Care (UHC) Law, which provides access to healthcare services to all Filipinos, including Overseas Filipino Workers (OFWs), through the government's health insurance programme (PhilHealth).
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
Oncology Therapeutics Segmentation
By Application (Revenue, USD Billion):
By Drugs (Revenue, USD Billion):
By Therapy (Revenue, USD Billion):
By Route of Administration (Revenue, USD Billion):
By Distribution Channel (Revenue, USD Billion):
Methodology for Database Creation
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How Do We Get It?
Our database is created and maintained through a combination of secondary and primary research methodologies.
1. Secondary Research
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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:
2. Primary Research
To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:
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:
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