Oncology Drugs - Malta | Statista Market Forecast

The Oncology Drugs market in Malta is projected to reach a revenue of US$28.40m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.53%, leading to a market volume of US$40.83m by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to US$103.90bn in 2024.
Malta is experiencing an increasing demand for innovative oncology drugs, driven by the country's growing aging population and the government's commitment to improving cancer care.

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 Malta has been steadily growing in recent years, driven by a combination of customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Maltese customers are increasingly seeking out innovative and effective treatments for cancer, leading to a rise in demand for oncology drugs. Patients are also becoming more aware of the benefits of early detection and treatment, which is driving growth in the market for cancer screening and diagnostic tests.

Trends in the market: One of the key trends in the Maltese Oncology Drugs market is the increasing use of targeted therapies, which are designed to attack specific cancer cells while minimizing damage to healthy cells. Another trend is the growing popularity of immunotherapy, which harnesses the body's immune system to fight cancer.

Local special circumstances: Malta's small size and close-knit community mean that there is a relatively high incidence of certain types of cancer, such as breast and colorectal cancer. This has led to a greater focus on cancer prevention and early detection, as well as a growing demand for oncology drugs.

Underlying macroeconomic factors: The Maltese economy has been growing steadily in recent years, which has led to higher levels of healthcare spending. The government has also been investing in cancer research and treatment, which has helped to drive growth in the Oncology Drugs market. Additionally, Malta's strategic location in the Mediterranean has made it an attractive destination for pharmaceutical companies looking to expand their reach in the region.Overall, the Oncology Drugs market in Malta is expected to continue growing in the coming years, driven by a combination of customer demand, local circumstances, and macroeconomic factors. As the Maltese healthcare system continues to invest in cancer research and treatment, we can expect to see further innovation and growth in the market for 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.