Philippines Radiotherapy Market Opportunities Offered by High Growth Economies | Estimated By Emerging Players Nordion Inc., Becton, Dickinson and Company, Hitachi, Ltd., Elekta AB, Accuray Incorporated, Varian Medical Systems, Inc.

Radiation therapy or radiotherapy is a cancer treatment therapy, which uses high doses of radiations to kill cancer cells and shrink tumors. Several types of radiotherapies such as external beam radiation therapy, internal beam radiation therapy/ brachytherapy, and systemic radiation therapy are available to combat various types of cancers prevalent, globally. External beam radiation therapy is used to treat various types of cancers, including brain tumors, bladder cancer, and bone cancers. Brachytherapy is often used to treat cancers of the head and neck, breast, cervix, prostate, and eye, while systemic radiation therapy is often used to treat certain types of thyroid cancers using radioactive iodine.

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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.

According to DOH, following hospitals had linear accelerators and other devices installed in the facility; Southern Philippines Medical Center, Cagayan Valley Medical Center, Baguio General Hospital and Medical Center, Bicol Medical Center, Zamboanga City Medical Center, Lung Center of the Philippines, and Vicente Sotto Memorial Medical Center.

Philippines radiotherapy market size was valued at US$ 17.6 Mn in 2018 and is expected to witness a CAGR of 5.8% during the forecast period (2018 – 2026).

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.

Market Opportunity

The prevalence of cancer is very high in Philippines and it was found to be second leading cause of death, according to the Philippines Statistics Authority estimates, in 2016. Furthermore, access to radiotherapy is less in Philippines due to less adoption of devices such as Gamma Knife and CyberKnife.

There is a wide gap between the patient and radiotherapy treatment providers. Hence, key players in the market have opportunity to fill this gap by installing their devices in the region and fulfill these unmet needs.

Market Key Players

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.

Detailed Segmentation:

Philippines Radiotherapy Market, By Application:

Breast Cancer
Lung Cancer
Cervical Cancer
Prostate Cancer
Head & Neck Cancer
Hematologic Cancer
Others

Philippines Radiotherapy Market, By Product Type :

External Beam Radiotherapy Device
- Linear Accelerators (LINAC)
- Advanced Radiotherapy Device
- Cobalt-60 Teletherapy System
Internal Radiotherapy (Brachytherapy) Device
Systemic Radiotherapy

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This release was published on openPR.