Oncology Drugs - Namibia | Statista Market Forecast

The projected revenue in the Oncology Drugs market in Namibia is expected to reach US$15.91m by 2024.
This represents a significant growth in the market.
Furthermore, it is anticipated that the revenue will continue to grow at an annual rate of 6.33% from 2024 to 2029, resulting in a market volume of US$21.63m by 2029.
When compared to other countries globally, it is worth noting that United States is expected to generate the highest revenue in the Oncology Drugs market.
In 2024 alone, the revenue United States is projected to reach an impressive US$103.90bn.
This highlights the significance of the market United States within the global context.
Namibia is witnessing a growing demand for innovative oncology drugs, driven by an increasing prevalence of cancer cases and a growing awareness of advanced treatment options.

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

Namibia, a country in southern Africa, has seen a growing demand for oncology drugs in recent years.

Customer preferences: There has been a shift in customer preferences towards more targeted therapies and immunotherapies in the treatment of cancer. Patients are seeking personalized treatment options that can offer better outcomes with fewer side effects. This trend is not unique to Namibia but is reflective of the global market.

Trends in the market: The oncology drugs market in Namibia has been growing steadily due to several factors. Firstly, an increase in the prevalence of cancer in the country has led to a higher demand for oncology drugs. Secondly, the government has been investing in improving the healthcare infrastructure in the country, which has led to better access to cancer treatments. Finally, the entry of new market players has increased competition, leading to a wider range of treatment options available to patients.

Local special circumstances: Namibia has a small population, and the market for oncology drugs is relatively small compared to other countries. However, this has not deterred pharmaceutical companies from investing in the country. The government has been supportive of foreign investment, and this has led to the entry of new market players in the country.

Underlying macroeconomic factors: Namibia has a growing economy, and this has led to an increase in healthcare spending. The government has been investing in the healthcare sector, and this has led to improvements in the healthcare infrastructure in the country. Furthermore, the country has a stable political environment, which has been conducive to foreign investment.In conclusion, the oncology drugs market in Namibia has been growing steadily due to several factors, including an increase in the prevalence of cancer, investment in healthcare infrastructure, and the entry of new market players. The shift towards more targeted therapies and immunotherapies is also reflective of global trends. Despite its small market size, Namibia has been attractive to pharmaceutical companies due to its supportive government policies and stable political environment.

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.