Oncology Drugs - Pakistan

Pakistan

Highlights

The Oncology Drugs market in Pakistan is expected to witness significant growth in the coming years.
By 2024, the revenue in this market is projected to reach US$181.20m.
This growth is primarily driven by the increasing demand for oncology drugs and advancements in medical research and development.
Furthermore, it is anticipated that the market will continue to expand at a compound annual growth rate (CAGR) of 6.96% between 2024 and 2029.
This steady growth rate indicates a positive outlook for the industry, with the market volume estimated to reach US$253.60m by 2029.
In comparison to other countries, United States is expected to generate the majority of revenue in the global oncology drugs market.
In 2024, United States is projected to generate a staggering revenue of US$103.90bn.
This dominance can be attributed to the robust pharmaceutical industry, advanced healthcare infrastructure, and high prevalence of cancer cases in the country.
Overall, the oncology drugs market in Pakistan is poised for growth, with the revenue expected to increase steadily in the coming years.
The market is expected to benefit from advancements in research and development, as well as the rising demand for effective cancer treatments.
The demand for innovative oncology drugs is growing in Pakistan as the country strives to improve cancer treatment outcomes.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Oncology Drugs market in Pakistan has been experiencing steady growth in recent years.

Customer preferences: Cancer is one of the leading causes of death in Pakistan, with an estimated 148,000 new cases reported every year. As a result, there is a high demand for oncology drugs in the country. Patients and healthcare providers in Pakistan prefer drugs that are effective and affordable, as the cost of cancer treatment can be a significant burden for many families.

Trends in the market: The oncology drugs market in Pakistan is expected to continue growing in the coming years, driven by several factors. First, the government has been taking steps to improve access to cancer treatment, such as increasing funding for cancer centers and expanding the availability of oncology drugs. Second, there is a growing trend towards personalized medicine in Pakistan, which involves tailoring cancer treatment to individual patients based on their genetic makeup. This trend is expected to drive demand for targeted therapies and immunotherapies. Finally, the COVID-19 pandemic has highlighted the importance of investing in healthcare infrastructure, which is likely to lead to increased spending on cancer treatment in the long term.

Local special circumstances: Pakistan faces several unique challenges when it comes to cancer treatment. One of the biggest challenges is the lack of awareness and education about cancer, which can lead to delays in diagnosis and treatment. In addition, there is a shortage of oncologists and cancer centers in the country, particularly in rural areas. This can make it difficult for patients to access the care they need. Finally, the high cost of cancer treatment can be a significant barrier for many families in Pakistan, particularly those who do not have health insurance.

Underlying macroeconomic factors: Pakistan's economy has been growing in recent years, but it still faces several challenges, including high levels of poverty and unemployment. These factors can make it difficult for many people in the country to afford healthcare, including cancer treatment. In addition, Pakistan has a relatively weak healthcare infrastructure, which can limit access to cancer treatment. Finally, the country is vulnerable to natural disasters and political instability, which can disrupt healthcare services and supply chains.

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.