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Philippines radiotherapy market analysis | Coherent Market Insights

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Title: Philippines radiotherapy market analysis | Coherent Market Insights


1
Coherent Marketing Insights
  • Market Research Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • Covid-19 Impact Tracker

2
  • PHILIPPINES RADIOTHERAPY MARKET ANALYSIS
  • Philippines Radiotherapy Market, by Product Type
    (External Beam Radiotherapy Device, Linear
    Accelerators (LINAC), Advanced Radiotherapy
    Device, Cobalt-60 Teletherapy System, Internal
    Radiotherapy (Brachytherapy) Device, and Systemic
    Radiotherapy), by Procedure Type (External Beam
    Radiotherapy, 3-D Conformal Radiation Therapy,
    Intensity-modulated Radiation Therapy (IMRT),
    Image-guided Radiation Therapy (IGRT)
    Tomotherapy, Stereotactic Radiosurgery
    Stereotactic Body Radiation Therapy, and Others),
    by Application (Breast Cancer, Lung Cancer,
    Cervical Cancer, Prostate Cancer, Head Neck
    Cancer, Hematologic Cancer, and Others), and by
    End User (Hospitals and Cancer Research
    Institutes) - Size, Share, Outlook, and
    Opportunity Analysis, 2018 - 2026

3
  • Radiotherapy, also known as radiation therapy,
    uses ionizing radiations that deliver targeted
    beams of radiation to kill and destroy cancer
    cells. The advanced technology used in
    radiotherapy works by bombarding cancerous cells
    with radiation to kill them, while minimizing
    damage to the healthy cells around them.
    Radiotherapy is the most potent treatment for
    cancer and when integrated with advanced
    technologies such as image guided therapy, which
    leads to enhanced control over tumor and
    toxicity.
  • Initiatives by various organizations to increase
    accessibility to radiotherapy is expected to
    support the market growth
  • Increasing initiatives by various government
    organizations to increase access to radiotherapy
    among patients suffering from cancer in
    Philippines is expected to create lucrative
    environment for the Philippines radiotherapy
    market growth.
  • For instance, due to high prevalence of cancer in
    Philippines, the Department of Health (DOH),
    Philippines, in 2016, decided to strategically
    establish cancer centers in hospitals to make
    quality radiation therapy services more
    accessible to cancer patients, especially those
    outside Metro Manila.

4
  • Figure 1. Philippines Radiotherapy Market Value
    (US Mn) Analysis and Forecast Y-o-Y Growth ()

5
  • High prevalence of cancer is expected to increase
    demand for its treatment and support the market
    growth
  • High prevalence of cancer in Philippines is
    expected to significantly increase the demand for
    its treatment procedures including radiotherapy
    and significantly support the Philippines
    radiotherapy market growth. For instance,
    according to the data published by Philippines
    Statistics Authority, in February 2018, neoplasms
    (also called as cancer) was found to be second
    leading cause of death after ischemic heart
    disease in Philippines and accounted for 10.4 of
    total death cases or around 60,470 death in 2016.
  • According to the Philippines Cancer Society in
    2017, around 109,280 new cases of cancer were
    diagnosed among which around 48,138 were males
    and 61,142 were females.

6
High price and presence of alternative to
radiotherapy is expected to be major factor
negatively affecting the Philippines radiotherapy
market growth
  • High price of radiotherapy devices such as
    CyberKnife and Gamma knife is expected to be one
    reason limiting its adoption, as setup of such
    devices needs high investment, which is not
    easily affordable by small hospitals in
    Philippines. Hence, high price of novel
    radiotherapy devices is expected to be a major
    factor limiting its adoption and restraining the
    market growth in Philippines.
  • For instance, according to the data published by
    First Dayton Cancer Care, CyberKnife is more
    expensive than ordinary linear accelerator
    devices. Investment cost for setting up such
    device is around US 5 million.
  • Furthermore, presence of alternative methods such
    as chemotherapy is expected to affect the
    adoption of radiotherapy and restrain market
    growth

7
Figure 2. Philippines Radiotherapy Market Share
(), By Product Type, 2018-2026

8
Regulatory Scenario
  • In 2017, Philippines implemented new customs
    clearance procedure for radiation devices.
  • According to the new guidelines,
    radiation-emitting medical devices are subjected
    to a new customs clearance release procedure
    administered by the Philippines FDA.
  • For shipment of each radiation-emitting devices
    in Philippines, importers must obtain Clearance
    for Customs Release (CFCR) certificate issued by
    the FDAs Center for Device Regulation, Radiation
    Health, and Research (CDRRHR). Applications are
    processed within 3 working days for a fee of US
    6 (Philippines Peso 300) per device.
  • One of the required elements of the CFCR
    application is a certificate of product
    registration issued by the national authority in
    the country of origin. This document must be
    authenticated by the Philippines embassy in the
    country of origin.
  • Key players operating in the Philippines
    radiotherapy market include Elekta AB, Accuray
    Incorporated, Varian Medical Systems, Inc.,
    RaySearch Laboratories AB, Mevion Medical
    Systems, Inc., Isoray Inc., Nordion Inc., Becton,
    Dickinson and Company, Ion Beam Applications SA,
    and Hitachi, Ltd.

9
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • Referance https//www.coherentmarketinsights.com/
    market-insight/philippines-radiotherapy-market-260
    1

10
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions. We are headquartered
    in India, having office at global financial
    capital in the U.S. Our client base includes
    players from across all business verticals in
    over 150 countries worldwide.
  • What We ProvideCustomized Market Research
    AnalysisIndustry Analysis ServicesBusiness
    Consulting ServicesLong Term Engagement
    ModelCountry Specific Analysis

11
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt. LTD.Coherent
    Market Insights 1001 4th Ave, 3200 Seattle, WA
    98154, U.S.Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

12
Thank You
  • Kindly Follow CMI Social Media Profiles for the
    latest Company Updates.
  • Facebook
  • Linkedin
  • Twitter
  • https//www.coherentmarketinsights.com/
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