Philippines Radiotherapy Market Detailed In New Research Report 2021 | Elekta AB, Accuray Incorporated, Varian Medical Systems, Inc.
Major market players are focusing on installing and increasing access of their technologically advanced radiotherapy products in the Philippines market. For instance, in 2015, Elekta installed new version Gamma Knife Perfexion stereotactic radiosurgery system at the Philippines Gamma Knife Center. Thus, installment of such novel devices in Philippines is expected to drive growth of the Philippines radiotherapy market growth over the forecast period.
Similarly, in 2012, TomoTherapy, system a fully-integrated, 3D image-guided intensity modulated radiation therapy (IG-IMRT) manufactured by Accuray Incorporated, was made available in Makati Medical Center in Manila, Philippines.
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The increasing prevalence of cancer in Philippines is one of the major factors that is expected to drive demand for radiotherapy treatment and further expected to augment growth of the Philippines radiotherapy market growth over the forecast period. For instance, according to the data published by the World Health Organization (WHO), around 28,700 males and 27,900 females in the Philippines died from cancer, in 2014.
Browse 30 Market Data Tables and 31 Figures spread through 160 Pages and in-depth TOC on 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) – Philippines Forecast to 2026
Several organizations are focusing on different initiatives to raise awareness about different types of cancers and its treatment, among populace and such initiatives are expected to support and increase adoption of novel cancer treatment methods including radiotherapy. For instance, in February 2018, MSD Philippines entered into a partnership with Philippines Society of Oncologists (PSO) and Philippines Society of Medical Oncology (PSMO) to launch World Cancer Day forum to spread awareness regarding cancer and its treatment.
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Key Takeaways of the Philippines Radiotherapy Market:
• The Philippines radiotherapy market is expected to exhibit a CAGR of 5.8% over the forecast period (2018-2026), which is attributed to increasing prevalence of cancer, frequent initiatives by various organizations for cancer treatment, and increasing focus of key players to install novel radiotherapy devices in region
• Among application, breast cancer segment is expected to hold a dominant position over the forecast period. The segment growth is attributed to high prevalence of breast cancer in the Philippines. For instance, according to the data published by Philippine Cancer Society in 2015, prevalence of breast cancer is the highest as compared to other cancers and it accounts for 19% of all cancer cases in the Philippines.
• The cost of radiotherapy is high and is not easily affordable to low and middle income population. However, benefits and reimbursements provided by PhilHealth may support adoption of radiotherapy in the Philippines and drive the market growth over the forecast period.
• 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.
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