Oncology Drugs - Austria

Austria

In Austria, the revenue in the Oncology Drugs market is projected to reach US$0.63bn in 2024.
This is expected to show an annual growth rate (CAGR 2024-2029) of 6.91%, resulting in a market volume of US$0.88bn by 2029.
When compared globally, United States is expected to generate the highest revenue in the Oncology Drugs market, with US$103,900.00m in 2024.
Austria's oncology drug market is experiencing a surge in demand for targeted therapies, driven by a growing emphasis on personalized medicine.

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

Market

Region

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Currency

Analyst Opinion

The Oncology Drugs market in Austria has been experiencing steady growth in recent years.

Customer preferences: Austrian customers are increasingly seeking personalized healthcare solutions, which has led to a rise in demand for targeted therapies and precision medicine in the Oncology Drugs market. Patients are also more aware of the potential benefits of early detection and treatment, leading to an increase in demand for screening and diagnostic tests.

Trends in the market: The Oncology Drugs market in Austria is characterized by a growing focus on innovative treatments, such as immunotherapies and gene therapies. This is reflected in the increasing number of clinical trials being conducted in the country, as well as the rising number of partnerships and collaborations between local and international pharmaceutical companies.

Local special circumstances: Austria has a well-developed healthcare system, with a high level of public funding for healthcare services. This has enabled the country to provide access to advanced treatments and technologies, including those in the Oncology Drugs market. Additionally, the country has a relatively high incidence of cancer, which has contributed to the growth of the Oncology Drugs market.

Underlying macroeconomic factors: Austria has a stable economy with a high standard of living, which has enabled the country to invest in healthcare infrastructure and attract international pharmaceutical companies. The country's membership in the European Union also facilitates trade and collaboration with other countries in the region. However, rising healthcare costs and an aging population pose challenges for the sustainability of the healthcare system in the long term.

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.