Oncology Drugs - Lebanon

Lebanon

Highlights

The projected revenue in the Oncology Drugs market in Lebanon is expected to reach US$46.78m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 5.67%, leading to a market volume of US$61.62m by 2029.
In comparison to other countries, United States is projected to generate the highest revenue of US$103.90bn in 2024.
Lebanon's oncology drug market is witnessing a surge in demand for innovative treatments, driven by an increasing prevalence of cancer cases and a growing focus on personalized medicine.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oncology Drugs market in Lebanon has been developing steadily in recent years, driven by a combination of customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Lebanese customers have shown a growing preference for innovative and targeted oncology drugs that offer better efficacy and fewer side effects compared to traditional chemotherapy. This has led to an increase in demand for targeted therapies, such as immunotherapy and precision medicine, which are designed to attack cancer cells while leaving healthy cells intact.

Trends in the market: One of the key trends in the Oncology Drugs market in Lebanon is the growing adoption of biosimilars, which are cheaper versions of biologic drugs that have already been approved by regulatory authorities. Biosimilars have become increasingly popular in Lebanon due to their lower cost and similar efficacy compared to the original biologic drugs. In addition, the market has seen an increase in the number of clinical trials being conducted in Lebanon, which has led to the introduction of new drugs and therapies.

Local special circumstances: Lebanon has a high incidence of cancer, with breast cancer being the most common form of cancer among women and lung cancer being the most common among men. In addition, the country has a relatively young population, with a median age of just 30 years. This has led to a higher demand for oncology drugs, particularly among younger patients who are more likely to seek out innovative and targeted therapies.

Underlying macroeconomic factors: The Oncology Drugs market in Lebanon is also influenced by underlying macroeconomic factors, such as government regulations and healthcare spending. The Lebanese government has implemented a number of policies aimed at improving access to healthcare, including the introduction of a national health insurance scheme. This has led to increased demand for oncology drugs, as more patients are able to afford the cost of treatment. However, the country has also been facing economic challenges in recent years, which has led to a decrease in healthcare spending and an increase in the cost of imported drugs. This has put pressure on pharmaceutical companies to reduce prices and develop more cost-effective drugs.In conclusion, the Oncology Drugs market in Lebanon is developing in response to a range of factors, including customer preferences, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing in the coming years, driven by the introduction of new drugs and therapies, as well as the increasing demand for innovative and targeted oncology treatments.

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.