Oncology Drugs - Serbia | Statista Market Forecast

In Serbia, the Oncology Drugs market is projected to generate a revenue of US$75.21m in 2024.
The market is expected to witness a steady annual growth rate (CAGR 2024-2029) of 7.07%, leading to a market volume of US$105.80m by 2029.
When compared globally, United States is anticipated to generate the highest revenue in this market, amounting to US$103.90bn in 2024.
Serbia is witnessing a surge in demand for innovative oncology drugs, as the country focuses on improving cancer treatment and patient outcomes.

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 Serbia has been witnessing significant growth over the years.

Customer preferences: The increasing prevalence of cancer and the rising demand for effective cancer treatments are the primary factors driving the growth of the Oncology Drugs market in Serbia. Patients in Serbia prefer personalized cancer treatment options that are tailored to their specific needs and medical history. They also prefer treatments that have minimal side effects and are cost-effective.

Trends in the market: One of the major trends in the Oncology Drugs market in Serbia is the increasing use of immunotherapy drugs. These drugs stimulate the body's immune system to fight cancer cells and are proving to be highly effective in treating certain types of cancer. Another trend is the development of targeted therapies that are designed to attack cancer cells while leaving healthy cells unharmed. These therapies have minimal side effects and are proving to be highly effective in treating certain types of cancer.

Local special circumstances: Serbia has a high incidence of cancer, with lung cancer being the most prevalent type. This has led to a high demand for effective cancer treatments in the country. Additionally, the country has a well-developed healthcare system that provides access to quality cancer care to its citizens.

Underlying macroeconomic factors: The Oncology Drugs market in Serbia is also being driven by several macroeconomic factors, including the country's growing economy, increasing healthcare expenditure, and favorable government policies. The Serbian government has been investing heavily in the healthcare sector, including cancer research and treatment. This has led to the development of new cancer treatments and therapies, which are driving the growth of the Oncology Drugs market in the country.In conclusion, the Oncology Drugs market in Serbia is witnessing significant growth due to the increasing prevalence of cancer, rising demand for effective cancer treatments, and the development of new cancer therapies. The country's well-developed healthcare system, growing economy, and favorable government policies are also contributing to the growth of the market. The trend towards personalized and targeted cancer treatments is expected to continue, further driving the growth of the Oncology Drugs market in Serbia.

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.