Oncology Drugs - Fiji | Statista Market Forecast

The Oncology Drugs market in Fiji is projected to reach a revenue of US$3.10m in 2024.
It is expected to show an annual growth rate (CAGR 2024-2029) of 6.79%, resulting in a market volume of US$4.31m by 2029.
When compared globally, United States will generate the highest revenue of US$103.90bn in 2024.
Fiji is experiencing a growing demand for innovative oncology drugs, driven by an increasing awareness of cancer and a rising 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 Fiji has been experiencing steady growth in recent years.

Customer preferences: Fijian customers prefer oncology drugs that are affordable and effective. Due to the high cost of treatment, many patients in Fiji are unable to access the latest oncology drugs. As a result, there is a growing demand for affordable alternatives that are just as effective.

Trends in the market: One of the key trends in the Oncology Drugs market in Fiji is the increasing availability of generic drugs. These drugs are more affordable than their branded counterparts and are becoming more widely used in the country. Another trend is the growing use of immunotherapy drugs, which are designed to help the body's immune system fight cancer cells.

Local special circumstances: Fiji is a small island nation with a population of just under 1 million people. As a result, the market for oncology drugs in Fiji is relatively small compared to larger countries. However, the country's healthcare system is well-developed and is able to provide high-quality care to patients.

Underlying macroeconomic factors: Fiji's economy has been growing steadily in recent years, with a focus on tourism and agriculture. This growth has led to an increase in disposable income, which has in turn led to an increase in demand for healthcare services. Additionally, Fiji has a high incidence of cancer, which has contributed to the growth of the Oncology Drugs market in the country.

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.