Oncology Drugs - Norway | Statista Market Forecast

Norway is projected to see a revenue of US$589.30m in the Oncology Drugs market by 2024.
The market is expected to show an annual growth rate (CAGR 2024-2029) of 5.94%, resulting in a market volume of US$786.20m by 2029.
In comparison to other countries, United States is expected to generate the most revenue with US$103.90bn in 2024.
Norway's oncology drug market is witnessing a surge in the adoption of targeted therapies for personalized treatment.

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 demand for Oncology Drugs in Norway has been increasing over the years due to various factors such as an aging population, increased awareness about cancer, and advancements in medical technology.

Customer preferences: Norwegian customers prefer personalized treatment plans and are willing to pay a premium for innovative drugs that offer better therapeutic outcomes. They also prefer drugs with fewer side effects and those that are easy to administer.

Trends in the market: One of the major trends in the Oncology Drugs market in Norway is the increasing adoption of immunotherapy drugs. These drugs are designed to stimulate the body's immune system to fight cancer cells. Another trend is the development of targeted therapies that are designed to attack specific cancer cells without damaging healthy cells. The use of combination therapies that combine two or more drugs to treat cancer is also gaining popularity in Norway.

Local special circumstances: Norway has a publicly funded healthcare system that provides universal coverage to all citizens. This means that Oncology Drugs are available to all patients at subsidized rates. The Norwegian government is also investing heavily in cancer research to develop new and innovative drugs that can improve cancer treatment outcomes.

Underlying macroeconomic factors: Norway has a high per capita income and a strong economy, which has contributed to the growth of the Oncology Drugs market in the country. The aging population in Norway has also led to an increase in the number of cancer cases, which has further fueled the demand for Oncology Drugs. Additionally, the Norwegian government's focus on healthcare and cancer research has created a favorable environment for the growth of the Oncology Drugs market in the country.

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.