Key regions: France, Europe, United Kingdom, Brazil, India
Lesotho, a small landlocked country in Southern Africa, is experiencing a growing demand for oncology drugs.
Customer preferences: The increase in demand can be attributed to the rising incidence of cancer in the country, particularly breast, cervical, and prostate cancer. Patients are seeking more effective treatments for their conditions, leading to a shift towards targeted therapies and immunotherapies.
Trends in the market: The oncology drugs market in Lesotho is primarily dominated by multinational pharmaceutical companies, with a few local companies also operating in the space. These companies are investing in research and development to bring innovative treatments to the market. The market is also witnessing a rise in the availability of biosimilars, which are more affordable alternatives to expensive biologic drugs.
Local special circumstances: Lesotho faces several challenges in providing access to oncology drugs to its population. The country has a limited healthcare infrastructure, with a shortage of trained healthcare professionals and inadequate funding for healthcare. This has led to a lack of awareness about cancer and its treatment options, resulting in delayed diagnosis and treatment. Additionally, the country's high poverty rate means that many patients cannot afford the cost of cancer treatment.
Underlying macroeconomic factors: Lesotho's economy is heavily reliant on the textile and garment industry, which accounts for a significant portion of the country's exports. However, the industry has been facing challenges due to the COVID-19 pandemic, leading to a decline in exports and a decrease in foreign exchange earnings. This has had a knock-on effect on the healthcare sector, with the government struggling to allocate sufficient funds for healthcare.In conclusion, while the demand for oncology drugs in Lesotho is growing, the country faces significant challenges in providing access to these drugs to its population. The government and healthcare stakeholders need to work together to increase awareness about cancer, improve healthcare infrastructure, and make cancer treatment more affordable for patients.
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.
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