Philippines Cancer Induced Bone Diseases Therapeutics Market

Philippines Cancer Induced Bone Diseases Therapeutics Market


$ 3999

Philippines Cancer Induced Bone Disease Therapeutics Market valued at $3 Mn in 2022, projected to reach $5 Mn by 2030 with a 6.3% CAGR. The key drivers of this industry include increasing cancer incidence, expanding healthcare infrastructure, and government initiatives. The industry is primarily dominated by players such as Pharex Healthcare, Bayer, Merck, UniLab, TGP Group, Pascual Laboratories, Amgen, and Novartis among others.

ID: IN10PHPH440 CATEGORY: Pharmaceuticals GEOGRAPHY: Phillipines AUTHOR: Riddhi Solanki

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Philippines Cancer Induced Bone Diseases Therapeutics Market Analysis

Philippines Cancer Induced Bone Disease Therapeutics Market valued at $3 Mn in 2022, projected to reach $5 Mn by 2030 with a 6.3% CAGR.

Cancer-induced bone diseases refer to instances where cancer cells metastasize, impacting the bones and resulting in complications such as bone destruction, fractures, and pain. Common causes involve the spread of cancer from primary tumors to the bones, frequently observed in breast, prostate, lung cancers, and multiple myeloma. Symptoms typically encompass localized pain, bone fractures, and reduced mobility, significantly affecting the overall quality of life for those affected. The current strategy for managing cancer-induced bone diseases involves a comprehensive approach. Medical interventions include chemotherapy, radiation therapy, and targeted therapies to address the underlying cancer. Additionally, bisphosphonates and other bone-targeted agents may be employed to strengthen bones and alleviate pain. Prominent pharmaceutical companies, such as Amgen, Novartis, and Eli Lilly, play a crucial role in the development and production of medications. These companies have introduced drugs like denosumab and bisphosphonates to address bone complications in cancer patients.

In the Philippines, there is an increasing incidence of cancers like breast, prostate, and lung cancer. This surge in incidence contributes to the emergence of bone metastases. The market is being driven by factors such as the increase in cancer incidence, advancements in treatment, and improved healthcare infrastructure. However, conditions such as limited affordability, limited coverage, and health system disparities in the country limit the growth and potential of the market.

Philippines cancer induced bone diseases therapeutics market

Market Dynamics

Market Growth Drivers

Increasing cancer incidence: The Philippines faces a growing challenge of cancer, with projections indicating a 50% surge by the year 2040. This implies that a greater number of individuals may be at risk of developing cancer-induced bone diseases caused by primary cancers such as breast (affecting around 31% population), lung (about 19%), and prostate (incidence rate of about 20/1,0,000 Filipino men). The aging demographic in the Philippines, being more prone to cancer, additionally contributes to the expansion of the market.

Expanding healthcare infrastructure: The introduction of the Universal Health Care Law seeks to enhance accessibility to affordable healthcare, potentially leading to a higher number of individuals receiving treatment for bone diseases. Investments in Healthcare Infrastructure, both by the government and the private sector, focusing on healthcare facilities like cancer centers and specialized units, have the potential to enhance access to diagnosis and treatment for bone diseases.

Advanced treatment options: The advancement of targeted therapies and enhanced delivery methods for bone diseases presents an opportunity for increased effectiveness and potentially enhanced patient outcomes, contributing to market expansion. A heightened emphasis on palliative care for individuals with bone diseases has the potential to enhance their quality of life and generate increased demand for pain management and supportive therapies.

Market Restraints

Affordability challenges: A considerable portion of healthcare costs in the Philippines are covered directly by patients, posing a financial burden, particularly for those from low-income households. This financial strain makes it challenging for many individuals to afford expensive cancer treatments, including targeted therapies for bone diseases.

Limited coverage: While the National Health Insurance Program (PhilHealth) provides coverage for certain fundamental cancer treatments, the inclusion of newer and more targeted medications for bone diseases is frequently restricted. This results in a coverage gap and places an extra financial burden on patients.

Health system disparities: The availability of high-quality healthcare, encompassing specialists and advanced diagnostic resources, varies considerably among different areas in the Philippines. This geographical discrepancy results in unequal access to effective treatment for bone diseases. Some regions may lack the necessary diagnostic tools and specialists capable of accurately identifying and characterizing bone diseases, leading to delays in diagnosis and impeding timely intervention.

Healthcare Policies and Regulatory Landscape

In the Philippines, the main regulatory agency overseeing pharmaceuticals, drugs, and medical products is the Food and Drug Administration (FDA). The FDA is responsible for ensuring the safety, efficacy, and quality of food, drugs, and health products in the country. It operates under the Department of Health and plays a crucial role in the evaluation, approval, and monitoring of pharmaceuticals and medical devices.

The process of obtaining a license for pharmaceuticals and medical products in the Philippines involves submitting a comprehensive application to the FDA. This application typically includes detailed information on the product's composition, manufacturing processes, safety data, and evidence of efficacy. For new entrants, navigating the regulatory environment in the Philippines can be complex and requires adherence to stringent requirements.

Competitive Landscape

Key Players

  • Amgen
  • Merck Sharp & Dohme (MSD)
  • Novartis
  • Bayer
  • Roche
  • UniLab
  • Pascual Laboratories
  • Pharex Health Corporation
  • TGP Group
  • Eli Lilly

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 Cancer Induced Bone Diseases Therapeutics Market Segmentation

By Cancer Type

  • Breast cancer
  • Prostate cancer
  • Lung cancer
  • Others

By Treatment Type

  • Bisphosphonates
  • Denosumab
  • Radiation Therapy
  • Pain Management Medications
  • Surgical Intervention
  • Targeted Therapy

By Distribution channel

  • Hospitals
  • Pharmacies
  • Oncology clinics
  • Others

By Stage of Treatment

  • Early stage CIBD
  • Advanced stage CIBD

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

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Stage II: Market Data Analysis and Statistical Model

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The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 01 January 1970
Updated by: Anish Swaminathan

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