Oncology Drugs - Portugal | Statista Market Forecast

In Portugal, the Oncology Drugs market is expected to see a significant growth in revenue.
By 2024, the projected revenue is estimated to reach US$404.60m.
Looking ahead, the market is anticipated to demonstrate a steady annual growth rate of 7.03% between 2024 and 2029.
This growth trajectory will ultimately lead to a market volume of US$568.30m by 2029.
When comparing in Portugal to other countries globally, it is worth noting that United States is expected to generate the highest revenue in the Oncology Drugs market.
In 2024, the projected revenue for the United States is a staggering US$103.90bn.
This highlights the significant market potential and opportunity for growth United States.
Portugal's oncology drug market is experiencing a surge in innovative therapies, positioning the country as a hub for cutting-edge cancer treatments.

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 Oncology Drugs market in Portugal has been steadily growing over the past few years.

Customer preferences: Portuguese customers have shown a preference for targeted therapies and immunotherapies over traditional chemotherapy treatments. They are also increasingly interested in personalized medicine and the use of biomarkers to identify the most effective treatment options.

Trends in the market: One of the key trends in the Oncology Drugs market in Portugal is the increasing use of biosimilars. These drugs offer a more cost-effective alternative to biologics, which are often very expensive. Another trend is the growing use of combination therapies, which can improve treatment outcomes for patients. There is also a focus on developing treatments for rare cancers, as well as improving access to cancer care in rural areas.

Local special circumstances: One of the unique aspects of the Oncology Drugs market in Portugal is the country's National Health Service (SNS). The SNS provides universal healthcare coverage to all Portuguese citizens, which has helped to improve access to cancer care. However, the SNS also faces challenges related to funding and resource allocation, which can impact the availability of certain treatments.

Underlying macroeconomic factors: The Portuguese economy has been slowly recovering from the 2008 financial crisis, which has led to increased government spending on healthcare. However, there are still concerns about the sustainability of the country's healthcare system and the ability to fund new treatments. Additionally, Portugal has an aging population, which is driving up demand for cancer treatments and putting pressure on the healthcare system.

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.