Oncology Drugs - Denmark

Denmark

Denmark is projected to reach a revenue of US$0.51bn in the Oncology Drugs market by 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 6.54%, resulting in a market volume of US$0.70bn by 2029.
In global comparison, United States will generate the most revenue, amounting to US$103,900.00m in 2024.
Denmark's oncology drug market is seeing a rise in targeted therapies, driven by the country's strong focus on precision medicine and personalized treatment approaches.

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

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Analyst Opinion

The Oncology Drugs market in Denmark has seen significant growth in recent years.

Customer preferences: Denmark has a high incidence of cancer, which has contributed to the growing demand for oncology drugs. Patients in Denmark prefer personalized treatments and are willing to pay a premium for drugs that have fewer side effects and better outcomes. This has led to an increase in the use of targeted therapies and immunotherapies.

Trends in the market: The oncology drugs market in Denmark has been driven by the introduction of new drugs, particularly those that target specific genetic mutations. These drugs have shown promising results in clinical trials and have been approved for use in Denmark. The market has also seen an increase in the use of biosimilars, which are less expensive versions of biologic drugs. This has led to increased competition and lower prices for patients.

Local special circumstances: The Danish healthcare system is highly centralized and publicly funded. The government negotiates prices with drug manufacturers, which has led to lower prices for patients. This has made Denmark an attractive market for drug manufacturers, as they can sell their drugs at a lower price than in other countries. The government also has a strong focus on cancer research, which has led to the development of new drugs and therapies.

Underlying macroeconomic factors: Denmark has a strong economy and a high standard of living. This has led to a higher demand for healthcare services, including oncology drugs. The aging population has also contributed to the growing demand for cancer treatments. The government has responded by increasing funding for cancer research and treatment, which has led to the development of new drugs and therapies. Overall, the oncology drugs market in Denmark is expected to continue to grow in the coming years, driven by the introduction of new drugs and an aging population.

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.