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Philippines radiotherapy market analysis | Coherent Market Insights

Read here the latest updates on the Philippines radiotherapy market analysis published by the CMI team.<br>

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Philippines radiotherapy market analysis | Coherent Market Insights

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  1. Coherent Marketing Insights https://www.coherentmarketinsights.com/ Market Research & Business Consulting Services 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 FDA’s 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-2601

  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 Provide:Customized 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@coherentmarketinsights.com

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