Oncology Drugs - Nepal

Nepal

The Oncology Drugs market in Nepal is expected to witness significant growth in the coming years.
By 2024, the revenue is projected to reach NPR US$32.10m.
This positive trend is expected to continue with an annual growth rate of 7.57% from 2024 to 2029.
Consequently, the market volume is predicted to reach NPR US$46.23m by 2029.
In terms of global comparison, United States is anticipated to generate the highest revenue in the Oncology Drugs market, with an estimated amount of US$103,900.00m in 2024.
Despite facing challenges in healthcare infrastructure, Nepal is witnessing a growing demand for innovative oncology drugs.

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

Market

Region

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Currency

Analyst Opinion

The demand for oncology drugs in Nepal has been on the rise in recent years.

Customer preferences: Nepal has a high incidence of cancer, particularly in the urban areas. The majority of patients prefer to receive treatment in private hospitals due to the lack of adequate facilities in public hospitals. Patients also tend to prefer drugs that are affordable and have minimal side effects.

Trends in the market: The oncology drugs market in Nepal has been growing steadily due to the increasing prevalence of cancer and the rising demand for effective treatments. The market is dominated by multinational pharmaceutical companies that offer a wide range of drugs for the treatment of various types of cancer. The demand for targeted therapies and immunotherapies has also been increasing in recent years.

Local special circumstances: Nepal is a developing country with a relatively low per capita income. The cost of cancer treatment is high, and many patients cannot afford the latest drugs and therapies. The lack of adequate healthcare infrastructure and trained medical professionals is also a major challenge in the country.

Underlying macroeconomic factors: The Nepalese government has been investing in the healthcare sector in recent years, which has led to some improvements in the healthcare infrastructure. However, the country still faces significant challenges in terms of healthcare access and affordability. The economy is heavily dependent on agriculture, and the country is vulnerable to natural disasters such as earthquakes and floods, which can disrupt healthcare services. The COVID-19 pandemic has also had a significant impact on the healthcare sector in Nepal, with resources being diverted to manage the outbreak.

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.