Oncology Drugs - Dominican Republic

The projected revenue in the Oncology Drugs market in the Dominican Republic is set to reach US$94.67m in 2024.
It is anticipated that the revenue will exhibit a compound annual growth rate (CAGR 2024-2029) of 7.66%, leading to a market volume of US$137.00m by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$103.90bn in 2024.
In the Dominican Republic, there has been a growing demand for innovative oncology drugs, driven by an increasing prevalence of cancer and the need for advanced treatment options.

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 Dominican Republic has been steadily growing in recent years.

Customer preferences: Dominican Republic has a high incidence of cancer, with breast, prostate, and lung cancers being the most common types. As a result, there is high demand for effective oncology drugs in the country. Patients prefer drugs that are affordable and have minimal side effects.

Trends in the market: The oncology drugs market in Dominican Republic has seen an increase in the number of innovative drugs being introduced. These drugs are more effective and have fewer side effects compared to traditional chemotherapy drugs. The market is also seeing an increase in the number of biosimilars being introduced, which are more affordable alternatives to expensive biologic drugs.

Local special circumstances: The Dominican Republic has a public healthcare system that provides free healthcare to all citizens. However, the system is underfunded and lacks resources, resulting in long wait times and limited access to certain drugs. As a result, many patients opt for private healthcare, which is more expensive but provides better access to drugs.

Underlying macroeconomic factors: The Dominican Republic has a growing economy, with a stable political environment and a favorable investment climate. The government has invested in healthcare infrastructure and has implemented policies to improve access to healthcare. However, the country still faces challenges such as poverty, inequality, and a high burden of disease. These factors impact the demand for oncology drugs and the ability of patients to access them.

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.