Oncology Drugs - Bahrain | Statista Market Forecast

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$103.90bn 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.

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 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.

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.