Oncology Drugs - Ethiopia

Ethiopia

The Oncology Drugs market in Ethiopia is expected to generate a projected revenue of US$42.09m in 2024.
This revenue is anticipated to grow at an annual growth rate (CAGR 2024-2029) of 8.04%, reaching a market volume of US$61.97m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$103,900.00m in 2024.
Ethiopia is experiencing a growing demand for oncology drugs as the country works to improve access to cancer treatment.

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

Market

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Analyst Opinion

The demand for oncology drugs in Ethiopia has been on the rise in recent years.

Customer preferences: Patients in Ethiopia are increasingly seeking effective treatments for cancer. As the incidence of cancer continues to rise in the country, patients are looking for affordable and accessible oncology drugs that can help them manage their condition.

Trends in the market: The oncology drugs market in Ethiopia is witnessing a shift towards more targeted therapies. New drugs that target specific cancer cells are gaining popularity among patients as they offer better outcomes with fewer side effects. However, the high cost of these drugs remains a major challenge for most patients, and the government is working to make them more affordable.

Local special circumstances: The healthcare infrastructure in Ethiopia is still developing, and this has led to a shortage of trained healthcare professionals and limited access to advanced medical technologies. This has resulted in delays in cancer diagnosis and treatment, and many patients are diagnosed at late stages of the disease when treatment options are limited.

Underlying macroeconomic factors: Ethiopia is one of the fastest-growing economies in Africa, and the government is investing heavily in healthcare infrastructure. This is expected to drive the growth of the oncology drugs market in the country as more patients gain access to healthcare services. Additionally, the government is working to improve the regulatory environment for pharmaceuticals, which is expected to attract more investment in the sector.

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.