Philippines Neurology Clinical Trials Market Analysis

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

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”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

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.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

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
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

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: 14 March 2023
Updated by: Shivam Zalke

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