Key regions: France, Europe, United Kingdom, Brazil, India
The demand for oncology drugs in Central America has been steadily increasing over the past few years.
Customer preferences: Patients in Central America are showing a growing preference for targeted therapies and immunotherapies over traditional chemotherapy treatments. This is due to the potential for these treatments to be more effective and have fewer side effects.
Trends in the market: In Costa Rica, there has been a significant increase in the number of cancer cases, particularly in breast, prostate, and lung cancers. As a result, there has been a corresponding increase in demand for oncology drugs in the country. Similarly, in Guatemala, there has been a rise in the incidence of cancer, with breast, cervical, and prostate cancers being the most common. This has led to an increased demand for oncology drugs in the country.
Local special circumstances: One of the major challenges in the Central American market is the lack of access to healthcare in certain areas. This can make it difficult for patients to receive the necessary treatments, including oncology drugs. Additionally, there are regulatory challenges that can make it difficult for pharmaceutical companies to bring new drugs to market in the region.
Underlying macroeconomic factors: The economic growth in Central America has been steady, which has led to an increase in healthcare spending. This has contributed to the growth of the oncology drugs market in the region. However, the market is still relatively small compared to other regions, and there are opportunities for further growth and development. Overall, the demand for oncology drugs in Central America is expected to continue to grow in the coming years, driven by changing customer preferences and an increasing incidence of cancer in the region.
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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