Oncology Drugs - Gambia | Statista Market Forecast

The revenue of the Oncology Drugs market in Gambia is estimated to reach US$951.40k in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.81%, leading to a market volume of US$1.32m by 2029.
When compared globally, United States is projected to generate the highest revenue, amounting to US$103.90bn in 2024.
The demand for innovative oncology drugs in Gambia is steadily increasing, as the country strives to improve access to advanced cancer treatments.

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 Gambia has been increasing steadily over the years.

Customer preferences: Patients in Gambia prefer to use oncology drugs that are affordable and effective. They also tend to opt for drugs that have minimal side effects. Due to the high cost of treatment, patients often rely on government subsidies and donations from non-profit organizations to access these drugs.

Trends in the market: There has been an increase in the number of cancer cases reported in Gambia, which has led to a rise in demand for oncology drugs. This trend is partly due to the aging population, lifestyle changes, and improved diagnostic methods. The government has also been investing in cancer treatment facilities and equipment, which has led to an increase in the availability of oncology drugs.

Local special circumstances: Gambia is a low-income country, and the majority of the population lives below the poverty line. This has a significant impact on the healthcare system, as many people cannot afford to pay for healthcare services, including cancer treatment. The government has been working to improve the healthcare system by investing in infrastructure and increasing the budget for healthcare.

Underlying macroeconomic factors: The economy of Gambia is heavily dependent on agriculture, which makes up a significant portion of the GDP. The country is also heavily reliant on foreign aid and remittances from Gambians living abroad. The political instability in the country has also had an impact on the economy, leading to a lack of investment in certain sectors. These factors have contributed to the challenges faced by the healthcare system, including the availability and affordability of oncology drugs.

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.