Key regions: France, Europe, United Kingdom, Brazil, India
The Oncology Drugs market in Americas has been experiencing significant growth over the years.
Customer preferences: Patients suffering from cancer are increasingly seeking personalized treatment options that can cater to their specific needs. The demand for targeted therapies has been on the rise due to their efficacy in treating cancer cells without harming healthy cells. Additionally, patients are also seeking affordable treatment options, leading to an increase in the uptake of biosimilars.
Trends in the market: In the United States, the oncology drugs market is primarily driven by the increasing prevalence of cancer and the availability of advanced treatment options. The market is also witnessing a shift towards oral chemotherapy drugs, which offer convenience and flexibility to patients. In Canada, the oncology drugs market is driven by the increasing adoption of biosimilars and the rising demand for immunotherapy drugs. The market in Latin America is primarily driven by the increasing incidence of cancer and the availability of government-funded healthcare programs.
Local special circumstances: In the United States, the oncology drugs market is highly competitive, with several pharmaceutical companies vying for market share. The market is also heavily regulated, which has resulted in a slow approval process for new drugs. In Canada, the oncology drugs market is heavily influenced by the country's universal healthcare system, which has resulted in the government negotiating drug prices with pharmaceutical companies. In Latin America, the oncology drugs market is highly fragmented, with several local players competing with multinational pharmaceutical companies.
Underlying macroeconomic factors: The oncology drugs market in the Americas is heavily influenced by macroeconomic factors such as government policies, healthcare expenditure, and the prevalence of cancer. The increasing incidence of cancer and the availability of advanced treatment options are expected to drive the growth of the oncology drugs market in the region. However, the high cost of cancer treatment and the slow approval process for new drugs could hinder market growth. Additionally, the ongoing COVID-19 pandemic has had a significant impact on the oncology drugs market, with several clinical trials being delayed or suspended.
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.
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