Oncology Drugs - Morocco | Statista Market Forecast

In Morocco, the revenue in the Oncology Drugs market is forecasted to reach US$107.10m in 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 7.08%, leading to a market volume of US$150.80m by 2029.
When compared globally, United States will generate the highest revenue, amounting to US$103.90bn in 2024.
"Morocco is experiencing an increasing demand for innovative oncology drugs due to the rising prevalence of cancer cases in the country."

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 Morocco has been steadily growing in recent years.

Customer preferences: Moroccan consumers are increasingly seeking out innovative treatments for cancer, including targeted therapies and immunotherapies. They are also looking for drugs that have fewer side effects and offer a better quality of life during treatment.

Trends in the market: Morocco's Oncology Drugs market is being driven by several factors, including an aging population, rising cancer rates, and the increasing availability of advanced treatments. The market is also benefiting from the government's efforts to improve access to healthcare services and promote the development of the pharmaceutical industry.

Local special circumstances: Morocco's Oncology Drugs market is unique in that it is heavily influenced by the country's cultural and religious beliefs. Many Moroccans prefer traditional herbal remedies and alternative therapies, and may be hesitant to try Western-style treatments. As a result, pharmaceutical companies operating in Morocco need to be sensitive to local customs and beliefs, and may need to adapt their marketing strategies accordingly.

Underlying macroeconomic factors: Morocco's economy has been growing steadily in recent years, driven by strong performance in the agriculture, tourism, and manufacturing sectors. This has led to an increase in disposable income and greater access to healthcare services for many Moroccans. Additionally, the government has been investing heavily in healthcare infrastructure and promoting the development of the pharmaceutical industry, which has helped to create a favorable environment for 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.