Oncology Drugs - Algeria

Algeria

The market of Oncology Drugs market in Algeria is anticipated to achieve a revenue of US$174.30m in the year 2024.
It is estimated that the revenue will experience a compound annual growth rate (CAGR 2024-2029) of 5.99%, leading to a market volume of US$233.10m by the year 2029.
When compared globally, United States is expected to generate the highest revenue, reaching US$103,900.00m in the year 2024.
Algeria's oncology drug market is witnessing a surge in demand for innovative therapies and a growing focus on personalized medicine.

Key regions: France, Europe, United Kingdom, Brazil, India

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Analyst Opinion

The Oncology Drugs market in Algeria has been developing steadily in recent years.

Customer preferences: Algeria has a high incidence rate of cancer, with breast, lung, and colorectal cancer being the most common types. As a result, there is a high demand for oncology drugs in the country. Patients and healthcare providers are increasingly looking for effective and affordable treatments, which has led to a rise in the use of generic drugs.

Trends in the market: The market for oncology drugs in Algeria is primarily driven by the public sector, which accounts for the majority of drug purchases. The government has been working to improve cancer care in the country by investing in new treatments and facilities. As a result, there has been an increase in the availability of oncology drugs and a growing number of cancer centers across the country.

Local special circumstances: Algeria has a relatively young population, with a median age of just 29 years. This means that there is a high demand for pediatric oncology drugs, as childhood cancer is a significant health issue in the country. In addition, Algeria has a large rural population, which can make it difficult to access healthcare facilities and treatments.

Underlying macroeconomic factors: Algeria is heavily dependent on its oil and gas industry, which has been hit hard by falling global prices in recent years. This has led to a decline in government revenues and a reduction in public spending. However, the government has continued to prioritize investment in healthcare, including cancer care, which has helped to sustain the market for oncology drugs.

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.