Oncology Drugs - New Zealand

New Zealand

Highlights

In New Zealand, the projected revenue in the Oncology Drugs market for 2024 is estimated to be US$245.50m.
This indicates a positive trajectory for the market.
Furthermore, it is anticipated that the market will experience an annual growth rate (CAGR 2024-2029) of 6.86%.
As a result, the market volume is predicted to reach US$342.00m by 2029.
This growth is significant and showcases the potential for expansion in the Oncology Drugs market.
When comparing globally, it is noteworthy that United States is expected to generate the highest revenue in the Oncology Drugs market.
In 2024, United States is projected to generate US$103.90bn, highlighting its dominance in the industry.
This indicates the strong market presence and economic strength of the United States in the field of Oncology Drugs market.
New Zealand's oncology drugs market is witnessing a surge in demand due to the country's aging population and increasing prevalence of cancer.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

New Zealand, a country famous for its natural beauty and adventure tourism, has been experiencing a steady growth in the oncology drugs market.

Customer preferences: The demand for oncology drugs in New Zealand is driven primarily by an aging population and a growing incidence of cancer. Cancer is the leading cause of death in the country, and the number of new cancer diagnoses has been steadily increasing over the years. Patients in New Zealand prefer personalized treatment plans, which has led to an increase in the use of targeted therapies.

Trends in the market: The oncology drugs market in New Zealand has been witnessing a shift from traditional chemotherapy to targeted therapies and immunotherapies. There has been a rise in the number of clinical trials for cancer drugs in the country, which has increased access to innovative therapies for patients. The government has also been taking steps to improve access to oncology drugs by funding new treatments and expanding the range of drugs available in the public healthcare system.

Local special circumstances: New Zealand has a unique healthcare system that combines both public and private healthcare services. The government funds a significant portion of healthcare services, including cancer treatment. However, there is also a thriving private healthcare sector that offers more personalized treatment options. Additionally, the country's geographic location and small population size can make it challenging to access certain drugs or treatments, which can impact the availability and cost of oncology drugs.

Underlying macroeconomic factors: New Zealand's economy has been growing steadily over the years, which has led to an increase in healthcare spending. The country has a high standard of living and a well-developed healthcare system, which has contributed to the growth of the oncology drugs market. Additionally, the government has been taking steps to improve access to healthcare services, including cancer treatment, which has further fueled the demand for oncology drugs. In conclusion, the growing incidence of cancer, an aging population, and a shift towards personalized treatment options have been driving the growth of the oncology drugs market in New Zealand. The government's focus on improving access to healthcare services and funding new treatments has also contributed to the growth of the market. However, the unique healthcare system and geographic location of the country can pose challenges in accessing certain drugs or treatments.

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.