Oncology Drugs - Chile | Statista Market Forecast

The projected revenue in the Oncology Drugs market for Chile is expected to reach US$427.70m in 2024.
It is anticipated that the revenue will show an annual growth rate (CAGR 2024-2029) of 6.70%, leading to a market volume of US$591.40m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$103.90bn in 2024.
Chile is witnessing a surge in the demand for innovative oncology drugs, driven by an aging population and increasing government investment in healthcare.

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 Chile has been steadily growing over the past few years, driven by several factors including an aging population, increasing cancer rates, and advancements in medical technology.

Customer preferences: Patients in Chile are increasingly seeking out personalized treatment options, including targeted therapies and immunotherapies. This trend is in line with global preferences, as patients become more informed and involved in their own healthcare decisions. Additionally, there is a growing demand for affordable cancer treatments, as healthcare costs continue to rise.

Trends in the market: The Oncology Drugs market in Chile is expected to continue growing in the coming years, with an increasing number of cancer cases and a growing demand for innovative treatments. One notable trend is the rise of biosimilars, which are becoming increasingly popular due to their lower cost compared to brand-name drugs. Additionally, there is a growing interest in combining different types of therapies, such as chemotherapy and immunotherapy, to improve treatment outcomes.

Local special circumstances: Chile has a well-developed healthcare system, with both public and private healthcare providers. However, there are significant disparities in access to healthcare across the country, with rural and low-income populations often facing barriers to accessing quality care. Additionally, there is a shortage of oncologists and other healthcare professionals in some areas, which can limit access to specialized cancer treatments.

Underlying macroeconomic factors: Chile is a middle-income country with a relatively stable economy, which has helped to support growth in the Oncology Drugs market. However, the country has faced several challenges in recent years, including political instability and social unrest. These factors could potentially impact the healthcare industry, including the Oncology Drugs market, in the coming years. Additionally, the COVID-19 pandemic has had a significant impact on the healthcare industry globally, and Chile is no exception. The pandemic has disrupted supply chains and impacted healthcare infrastructure, which could have implications for the Oncology Drugs market in the short term.

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.