Philippines Oncology Therapeutics Market Analysis

Philippines Oncology Therapeutics Market Analysis


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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.

ID: IN10PHPH042 CATEGORY: Pharmaceuticals GEOGRAPHY: Phillipines AUTHOR: Dr. Vishwa Modhia

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Philippines Oncology Therapeutics Market Analysis Summary

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.

Philippines Oncology Therapeutics Market Analysis

Market Dynamics

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.

Competitive Landscape

Key Players

  • United Laboratories (UNILAB): UNILAB is a Filipino pharmaceutical company that produces a range of cancer therapeutics, including chemotherapy drugs and targeted therapies. The company has a strong presence in the Philippines and other countries in Southeast Asia
  • Pascual Laboratories: Pascual Laboratories is a Filipino pharmaceutical company that produces a range of cancer therapeutics, including chemotherapy drugs and targeted therapies. The company has a strong focus on research and development and has several innovative cancer drugs that are currently in clinical development
  • Pharex Health Corporation: Pharex Health Corporation is a Filipino pharmaceutical company that produces a range of cancer therapeutics, including chemotherapy drugs and targeted therapies
  • TGP Group: TGP Group is a Filipino pharmaceutical company that produces a range of cancer therapeutics, including chemotherapy drugs and targeted therapies. The company has a strong focus on research and development and has several innovative cancer drugs that are currently in clinical development

Notable Recent Deals

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.

Healthcare Policies and Reimbursement Scenarios

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):

  • Blood Cancer
  • ?Colorectal Cancer
  • Gastrointestinal Cancer
  • Gynaecologic Cancer
  • Breast Cancer
  • Lung Cancer
  • Prostate Cancer
  • ?Others

By Drugs (Revenue, USD Billion):

  • Revlimid
  • Avastin
  • Herceptin
  • Rituxan
  • Opdivo
  • Gleevec
  • Velcade
  • Imbruvica
  • Ibrance
  • Zytiga
  • Alimta
  • Xtandi
  • Tarceva
  • Perjeta
  • Temodar
  • Others

By Therapy (Revenue, USD Billion):

  • Chemotherapy
  • Targeted Therapy
  • Immunotherapy
  • Hormonal Therapy
  • Others

By Route of Administration (Revenue, USD Billion):

  • Oral
  • Parenteral
  • Others

By Distribution Channel (Revenue, USD Billion):

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
  • ?Others

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

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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: 07 June 2023
Updated by: Vidhi Upadhyay

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