Key regions: France, Europe, United Kingdom, Brazil, India
Armenia, a country located in the South Caucasus region of Eurasia, has been experiencing a steady growth in the Oncology Drugs market. The market is driven by several factors that are unique to the country.
Customer preferences: Armenian customers are increasingly becoming aware of the benefits of early detection and treatment of cancer, leading to an increase in demand for oncology drugs. The preference for targeted therapy has also increased as it offers a more personalized approach to treatment.
Trends in the market: The Oncology Drugs market in Armenia has been witnessing a shift towards the use of biosimilars, which are cheaper alternatives to biologic drugs. This trend is driven by the need to reduce healthcare costs and increase access to cancer treatment. Another trend in the market is the increasing focus on combination therapies, which involve using multiple drugs to treat cancer.
Local special circumstances: Armenia has a high incidence of cancer, with lung, breast, and colorectal cancers being the most common types. The country also has a shortage of oncologists, which has led to an increase in the use of telemedicine for cancer treatment.
Underlying macroeconomic factors: Armenia has been experiencing economic growth in recent years, which has led to an increase in healthcare spending. The government has also been investing in healthcare infrastructure, which has improved access to cancer treatment. However, the country still faces challenges such as a lack of funding for cancer research and development, which has limited the availability of new oncology drugs in the market.In conclusion, the Oncology Drugs market in Armenia is developing due to a combination of factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing in the future as the country invests more in healthcare infrastructure and research and development.
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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