Oncology Drugs - Estonia | Statista Market Forecast

The Oncology Drugs market in Estonia is estimated to achieve a revenue of US$46.77m in 2024.
It is anticipated that the revenue will experience an annual growth rate (CAGR 2024-2029) of 6.97%, leading to a market volume of US$65.49m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$103.90bn in 2024.
Estonia's oncology drug market is witnessing a surge in innovative therapies, propelled by the country's commitment to digital health advancements.

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 demand for oncology drugs in Estonia has been steadily increasing over the years.

Customer preferences: Estonia has a high incidence of cancer, which has led to an increased demand for oncology drugs. Patients are increasingly seeking personalized treatments that are tailored to their specific needs. This has led to a growing demand for targeted therapies, which are designed to attack cancer cells while minimizing damage to healthy cells. Patients are also looking for treatments that have fewer side effects and are more affordable.

Trends in the market: The oncology drugs market in Estonia is expected to grow in the coming years due to the increasing incidence of cancer and the growing demand for targeted therapies. The market is also being driven by the introduction of new drugs and the expansion of existing drug portfolios. The trend towards personalized medicine is also expected to continue, with more patients seeking treatments that are tailored to their specific needs.

Local special circumstances: Estonia has a well-developed healthcare system that provides universal access to healthcare for all citizens. The country has a high standard of living, which has led to a growing demand for high-quality healthcare services. The government has also been investing in the healthcare sector, which has helped to drive growth in the oncology drugs market.

Underlying macroeconomic factors: Estonia has a stable economy and a favorable business environment, which has attracted investment from multinational pharmaceutical companies. The country has a highly educated workforce and a strong research and development sector, which has helped to drive innovation in the healthcare sector. The government has also implemented policies to promote the growth of the pharmaceutical industry, including tax incentives and funding for research and development. These factors have helped to create a favorable environment for the growth of the oncology drugs market in Estonia.

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.