Oncology Drugs - Bahrain

Bahrain

The Oncology Drugs market in Bahrain is expected to witness significant growth in the coming years.
By 2024, the revenue in this market is projected to reach US$27.83m.
This growth is anticipated to continue, with an annual growth rate (CAGR 2024-2029) of 6.81%.
As a result, the market volume is expected to reach US$38.69m by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Oncology Drugs market, reaching US$103,900.00m in 2024.
Bahrain's oncology drug market is experiencing a surge in demand for targeted therapies due to the country's focus on personalized medicine.

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

Market

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Currency

Analyst Opinion

The Oncology Drugs market in Bahrain has been steadily growing in recent years, driven by various factors such as increasing cancer incidence rates, rising healthcare expenditure, and growing awareness of cancer treatment options.

Customer preferences: Bahraini patients with cancer tend to prefer personalized treatment plans that take into account their individual needs and medical history. They also place a high value on the quality of care and the expertise of their healthcare providers.

Trends in the market: One of the major trends in the Oncology Drugs market in Bahrain is the increasing use of targeted therapies, which can offer more precise and effective treatment options for certain types of cancer. Another trend is the growing demand for immunotherapy drugs, which harness the body's own immune system to fight cancer cells.

Local special circumstances: Bahrain has a relatively small population, which can make it challenging for pharmaceutical companies to justify investing in the development and marketing of new cancer drugs specifically for the Bahraini market. As a result, many cancer patients in Bahrain may rely on imported drugs.

Underlying macroeconomic factors: Bahrain has a relatively high healthcare expenditure per capita compared to other countries in the region, which has helped to support the growth of the Oncology Drugs market. Additionally, the government has taken steps to improve cancer care in the country, including the establishment of a National Oncology Centre and the implementation of a national cancer screening program. These initiatives are expected to continue driving growth in the Oncology Drugs market in Bahrain in the coming years.

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.