Oncology Drugs - Guinea | Statista Market Forecast

The Oncology Drugs market in Guinea is projected to reach a revenue of US$10.36m by 2024.
It is expected to exhibit an annual growth rate of 7.12% (CAGR 2024-2029), leading to a market volume of US$14.61m by 2029.
In comparison to other countries, United States is anticipated to generate the highest revenue of US$103.90bn in 2024.
Guinea's oncology drug market is seeing a surge in demand for targeted therapies to combat the high prevalence of cancers caused by infectious diseases.

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 Guinea has been developing in recent years due to a variety of factors.

Customer preferences: Patients in Guinea are increasingly seeking out more advanced treatments for cancer, including targeted therapies and immunotherapies. As awareness of these treatments grows, demand for oncology drugs is expected to continue to rise.

Trends in the market: One trend in the Oncology Drugs market in Guinea is the increasing availability of generic drugs. These drugs, which are often less expensive than brand-name drugs, are becoming more widely used as healthcare providers seek to control costs. Another trend is the growing use of combination therapies, which can improve treatment outcomes by attacking cancer cells from multiple angles.

Local special circumstances: Guinea faces a number of challenges in providing effective cancer care. One major issue is a lack of healthcare infrastructure, particularly in rural areas. This can make it difficult for patients to access oncology drugs and other treatments. Additionally, there is a shortage of trained healthcare professionals, which can limit the availability of specialized cancer care.

Underlying macroeconomic factors: Guinea is one of the poorest countries in the world, with limited resources for healthcare. However, the government has made efforts to improve access to healthcare services, including cancer care. In recent years, Guinea has received significant international aid to support healthcare initiatives. These efforts are expected to continue, which could help to drive growth in the Oncology Drugs market.

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.