Oncology Drugs - Eastern Africa

Eastern Africa

Highlights

The Eastern Africa Oncology Drugs market is expected to witness a significant increase in revenue, reaching a projected value of US$314.00m in 2024.
This indicates a positive growth trend in the market.
Furthermore, it is anticipated that the market will continue to expand at a compound annual growth rate (CAGR) of 7.23% from 2024 to 2029.
As a result, the market volume is expected to reach US$445.30m by 2029.
When compared to other regions globally, United States is anticipated to generate the highest revenue in the Oncology Drugs market, with an estimated value of US$103.90bn in 2024.
This highlights the dominant position of the United States in terms of market share and revenue generation within the Oncology Drugs market sector.
Eastern Africa is experiencing a growing demand for innovative oncology drugs to address the rising prevalence of cancer in the region.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The demand for oncology drugs in Eastern Africa has been steadily increasing in recent years.

Customer preferences: Customers in Eastern Africa are increasingly seeking access to high-quality cancer treatment options. This is partly due to the rising incidence of cancer in the region, as well as the growing awareness of the importance of early detection and treatment. Patients are also becoming more informed about the latest developments in cancer treatment, and are seeking out drugs that offer the best chance of survival and improved quality of life.

Trends in the market: One key trend in the oncology drugs market in Eastern Africa is the increasing availability of targeted therapies. These drugs are designed to attack specific cancer cells, while leaving healthy cells intact. This approach offers several benefits over traditional chemotherapy, including fewer side effects and a higher chance of success. Another trend is the growing use of immunotherapy, which harnesses the body's own immune system to fight cancer. This approach has shown promising results in treating a range of cancers, including melanoma, lung cancer, and bladder cancer.

Local special circumstances: There are several factors that are unique to the Eastern African market that are impacting the demand for oncology drugs. One is the high prevalence of certain types of cancer in the region, such as breast and cervical cancer. Another is the limited availability of cancer treatment options, particularly in rural areas. This has led to a growing demand for telemedicine services, which allow patients to consult with doctors remotely and receive treatment without having to travel long distances.

Underlying macroeconomic factors: The economic growth in Eastern Africa has led to an increase in healthcare spending, which is expected to drive demand for oncology drugs in the coming years. Additionally, the region has seen a rise in medical tourism, with patients from neighboring countries seeking treatment in Eastern Africa. This has created opportunities for pharmaceutical companies to expand their presence in the region and tap into this growing market. Finally, the increasing prevalence of cancer in Eastern Africa is likely to continue driving demand for oncology drugs for the foreseeable future.

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.