Oncology Drugs - Papua New Guinea

In Papua New Guinea, the Oncology Drugs market is anticipated to witness a significant surge in revenue, with projections indicating a reaching of US$10.13m by the year 2024.
Furthermore, this revenue is expected to experience a consistent annual growth rate (CAGR 2024-2029) of 6.09%, which will ultimately contribute to a substantial market volume of US$13.61m by the year 2029.
When comparing these figures to the global market, it is noteworthy that United States is anticipated to generate the highest revenue, amounting to US$103.90bn in 2024.
Papua New Guinea, a developing country with limited healthcare infrastructure, is facing challenges in accessing and affording advanced oncology drugs.

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 Papua New Guinea has been on the rise in recent years.

Customer preferences: The increasing incidence of cancer in Papua New Guinea has led to a growing demand for oncology drugs. Patients in the country are becoming more aware of the availability of these drugs and are seeking treatment options to manage their conditions. There is also a growing preference for targeted therapies over traditional chemotherapy, as patients seek more personalized treatment options.

Trends in the market: The Oncology Drugs market in Papua New Guinea is expected to grow in the coming years, driven by a number of factors. Firstly, the increasing prevalence of cancer in the country is expected to drive demand for oncology drugs. Secondly, the government's efforts to improve healthcare infrastructure and access to healthcare services is expected to increase the number of patients seeking treatment. Finally, the growing preference for targeted therapies is expected to drive demand for more innovative and effective oncology drugs.

Local special circumstances: Papua New Guinea faces a number of unique challenges when it comes to healthcare. The country has a large rural population, which can make it difficult for patients to access healthcare services. Additionally, there is a shortage of healthcare professionals in the country, which can limit the availability of oncology drugs and other treatments. Finally, Papua New Guinea has a relatively low GDP per capita, which can limit the ability of patients to afford expensive oncology drugs.

Underlying macroeconomic factors: The Oncology Drugs market in Papua New Guinea is influenced by a number of macroeconomic factors. Firstly, the country's GDP growth rate is expected to remain strong in the coming years, which is expected to increase the affordability of healthcare services and oncology drugs. Additionally, the government's efforts to improve healthcare infrastructure and access to healthcare services is expected to drive demand for oncology drugs. Finally, the increasing prevalence of cancer in the country is expected to drive demand for oncology drugs in the coming years.

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.