Oncology Drugs - Bangladesh | Statista Market Forecast

In Bangladesh, the revenue in the Oncology Drugs market is estimated to reach US$129.90m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 8.27%, leading to a market volume of US$193.30m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$103.90bn in 2024.
Bangladesh has seen an increase in the demand for innovative oncology drugs, driven by the growing prevalence of cancer cases in the country.

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 Bangladesh has been steadily growing in recent years due to various factors.

Customer preferences: Bangladesh is a developing country with a growing population, and as a result, there is an increasing demand for healthcare services. Cancer is a major health concern in the country, and the demand for oncology drugs has been on the rise. Patients and healthcare providers in Bangladesh prefer affordable and effective treatments, which has led to an increase in the demand for generic oncology drugs.

Trends in the market: The Oncology Drugs market in Bangladesh has been witnessing a shift towards the use of targeted therapies, which are more effective and have fewer side effects compared to traditional chemotherapy. This trend is driven by the increasing availability of targeted therapies in the country and the growing awareness among healthcare providers and patients about their benefits. Another trend in the market is the growing use of biosimilars, which are cheaper versions of biologic drugs used in cancer treatment.

Local special circumstances: Bangladesh has a large population, and a significant proportion of the population lives in poverty. As a result, the government has been taking steps to ensure that essential medicines, including oncology drugs, are affordable and accessible to all. The government has also been investing in the healthcare sector, which has led to an improvement in the overall healthcare infrastructure in the country.

Underlying macroeconomic factors: The Oncology Drugs market in Bangladesh is also influenced by macroeconomic factors such as the country's GDP growth, inflation rate, and exchange rate. The country's GDP has been growing steadily in recent years, which has led to an increase in the purchasing power of the population. However, the inflation rate in the country has also been high, which has made it difficult for some patients to afford expensive oncology drugs. The exchange rate of the Bangladeshi taka against major currencies such as the US dollar also affects the cost of imported oncology drugs in the country.

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.