Oncology Drugs - Peru

Peru

Revenue in the Oncology Drugs market in Peru is forecasted to reach US$209.10m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 6.77%, leading to a market volume of US$290.10m by 2029.
When compared globally, United States is expected to generate the highest revenue of US$103,900.00m in 2024.
Peru's oncology drug market is witnessing a surge in demand due to an increasing prevalence of cancer cases in the country.

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

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Analyst Opinion

The Oncology Drugs market in Peru has been showing promising growth in recent years.

Customer preferences: Peruvian customers have been increasingly demanding better healthcare services, including advanced treatments for cancer. As a result, there has been a growing preference for oncology drugs in the country. Additionally, the aging population in Peru has contributed to the rising demand for cancer treatments.

Trends in the market: One of the major trends in the Oncology Drugs market in Peru is the increasing availability of targeted therapies. These therapies are designed to attack cancer cells while sparing healthy cells, resulting in fewer side effects compared to traditional chemotherapy. This trend is in line with the global shift towards personalized medicine. Another trend in the market is the growing presence of biosimilars, which are less expensive versions of biologic drugs. The use of biosimilars is expected to increase in the coming years as more patents on biologic drugs expire.

Local special circumstances: Peru has a universal healthcare system, which provides access to healthcare services for all citizens. However, the quality of healthcare services can vary depending on the region. This has led to a disparity in the availability of oncology drugs across the country. Additionally, the high cost of cancer treatments can be a barrier for some patients in accessing the necessary care.

Underlying macroeconomic factors: The Peruvian economy has been growing steadily in recent years, which has led to an increase in healthcare spending. The government has been investing in the healthcare sector, including the expansion of healthcare infrastructure and the provision of more advanced treatments. However, the COVID-19 pandemic has had a significant impact on the economy and healthcare system in Peru. The pandemic has resulted in a decrease in healthcare spending and disrupted the supply chain for oncology drugs. In conclusion, the Oncology Drugs market in Peru is growing due to the increasing demand for advanced cancer treatments. The availability of targeted therapies and biosimilars are major trends in the market. However, the quality of healthcare services and the high cost of cancer treatments remain challenges for the market. The Peruvian economy and healthcare system have been impacted by the COVID-19 pandemic, which has resulted in a decrease in healthcare spending and disrupted the supply chain for oncology drugs.

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.