Oncology Drugs - Israel

Israel

The Oncology Drugs market in Israel is forecasted to see a significant increase in revenue, reaching a projected value of US$0.55bn in 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 6.68%, leading to a market volume of US$0.76bn by 2029.
In comparison to other countries worldwide, United States is expected to generate the highest revenue in the Oncology Drugs market, reaching US$103,900.00m in 2024.
Israel's thriving biotech sector is driving innovation in oncology drugs, making it a key player in the global market.

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

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Analyst Opinion

The Oncology Drugs market in Israel has been experiencing growth in recent years, driven by various factors such as customer preferences and local special circumstances.

Customer preferences: Israel has a high incidence of cancer, with one of the highest rates of cancer in the world. As a result, there is a high demand for oncology drugs in the country. In addition, there is a preference for innovative and targeted therapies, which has led to an increase in the development and use of biologics and biosimilars in the market.

Trends in the market: The Oncology Drugs market in Israel has been witnessing a shift towards personalized medicine, with an increasing focus on biomarkers and genomic testing. This has led to the development of targeted therapies that are more effective and have fewer side effects. Another trend in the market is the increasing use of immunotherapy, which has shown promising results in the treatment of various types of cancer.

Local special circumstances: Israel has a strong pharmaceutical industry, with a focus on research and development. The country has a highly skilled workforce and a supportive regulatory environment, which has attracted many multinational pharmaceutical companies to establish a presence in the country. In addition, the government provides funding for research and development, which has led to the development of innovative therapies in the market.

Underlying macroeconomic factors: Israel has a strong economy and a high standard of living, which has led to an increase in healthcare spending in the country. The government provides universal healthcare coverage, which has led to an increase in the demand for oncology drugs. In addition, the country has a well-developed healthcare system, which has led to an increase in the availability and accessibility of oncology drugs in the market.

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.