Oncology Drugs - Argentina | Statista Market Forecast

In Argentina, the projected revenue in the Oncology Drugs market for 2024 is expected to reach US$699.90m.
This revenue is anticipated to demonstrate an annual growth rate of 6.41% from 2024 to 2029, resulting in a market volume of US$954.70m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$103.90bn in 2024.
Argentina's oncology drug market is witnessing a surge in research and development activities, with a focus on personalized medicine and targeted therapies.

Definition:
The Oncology Drugs market covers drugs to treat cancer, including chemotherapy and immunotherapy. These therapies are used for solid tumors and hematologic cancer. The medications in this market are mainly physician-administered drugs.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Bristol-Myers Squibb, Roche, Merck & Co, Novartis, Johnson & Johnson

Treatment for different types of cancer, including skin cancer, leukemia, lymphoma, and multiple myeloma
Chemotherapeutic agents
Immuno-oncology drugs
Oncology orphan drugs

Radiation therapy
Medical devices

The Oncology Drugs market in Argentina has been experiencing significant growth in recent years, with a number of contributing factors driving this trend.

Customer preferences: Patients in Argentina are increasingly seeking out more effective and innovative treatments for cancer, leading to a rise in demand for oncology drugs. In particular, there has been a growing interest in targeted therapies and immunotherapies, which offer a more personalized approach to treatment.

Trends in the market: One key trend in the Argentine Oncology Drugs market is the increasing availability of biosimilars, which are lower-cost versions of biologic drugs. This has helped to expand access to treatment for a wider range of patients, particularly those who may not have been able to afford the high cost of traditional biologics. Additionally, there has been a growing focus on developing combination therapies, which can offer more effective treatment options by targeting multiple pathways involved in cancer growth.

Local special circumstances: Argentina has a well-established healthcare system, with a strong emphasis on public healthcare. This has helped to ensure that a wide range of patients have access to cancer treatments, including those who may not be able to afford private healthcare. Additionally, the country has a strong pharmaceutical industry, with a number of local companies producing oncology drugs.

Underlying macroeconomic factors: The Argentine economy has been facing a number of challenges in recent years, with high inflation and currency devaluation causing significant economic instability. Despite this, the healthcare sector has remained relatively resilient, with the government continuing to invest in healthcare infrastructure and drug development. Additionally, the country has a large and growing elderly population, which is driving demand for cancer treatments as the incidence of cancer increases with age.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Cancer is one of the leading causes of death worldwide, with lung cancer alone ranked the sixth leading cause of death in 2021. Cancer, also known as malignant tumors and neoplasms, is the result of interactions between personal genetic factors and external agents causing abnormal transformations of cells into tumors over time. As the global population has increased in age, the incidence of new cancer cases has also risen, contributing to a higher number of deaths each year. In 2022, nearly 10 million deaths were caused by cancer worldwide- a number which is expected to reach over 15 million by 2040.