Oncology Drugs - Myanmar

Myanmar

The Oncology Drugs market in Myanmar is anticipated to witness a significant surge in revenue, reaching US$40.20m by the year 2024.
This projection takes into account the country's specific market conditions and potential growth factors.
Looking ahead, the market is expected to experience a steady compound annual growth rate (CAGR) of 6.76% between 2024 and 2029.
By the end of this period, the market volume is estimated to reach a substantial US$55.75m.
When compared to other countries globally, United States is expected to generate the highest revenue in the Oncology Drugs market, reaching a staggering US$103,900.00m in 2024.
Myanmar's oncology drug market is experiencing significant growth due to the increasing prevalence of cancer cases in the country.

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

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Analyst Opinion

The Oncology Drugs market in Myanmar has been showing signs of steady growth in recent years, driven by several factors such as increasing cancer rates and improving healthcare infrastructure.

Customer preferences: Myanmar has a population of over 50 million people, and the incidence of cancer is on the rise due to factors such as lifestyle changes and an aging population. As a result, there is a growing demand for oncology drugs in the country. Patients are increasingly seeking out more advanced treatments, and are willing to pay a premium for drugs that offer better outcomes.

Trends in the market: The oncology drugs market in Myanmar is still in its early stages, but is expected to grow rapidly in the coming years. There is a trend towards more targeted therapies, with drugs that are designed to treat specific types of cancer becoming increasingly popular. In addition, there is a growing interest in immunotherapies, which use the body's own immune system to fight cancer.

Local special circumstances: Myanmar is a developing country with a rapidly growing economy, and the government is investing heavily in improving healthcare infrastructure. This includes building new hospitals and clinics, as well as increasing access to healthcare services in rural areas. As a result, there is a growing demand for oncology drugs in the country.

Underlying macroeconomic factors: Myanmar's economy has been growing at a steady pace in recent years, driven by factors such as foreign investment and economic reforms. This has led to an increase in disposable income and a growing middle class, which in turn has led to an increase in demand for healthcare services. In addition, the government has made healthcare a priority, and is investing heavily in improving healthcare infrastructure across the country.

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.