Key regions: France, Europe, United Kingdom, Brazil, India
The demand for oncology drugs in South America has been on the rise in recent years.
Customer preferences: Customers in South America are increasingly seeking advanced and innovative treatments for cancer. They are willing to pay more for drugs that offer better efficacy and fewer side effects. Additionally, the growing incidence of cancer in the region has led to a higher demand for oncology drugs.
Trends in the market: Brazil is the largest market for oncology drugs in South America, followed by Argentina and Colombia. The market is dominated by multinational pharmaceutical companies, which account for a significant share of the sales. The trend towards personalized medicine is gaining traction in the region, with targeted therapies and immunotherapies becoming more popular. Biosimilars are also gaining ground as a cost-effective alternative to expensive biologic drugs.
Local special circumstances: The regulatory environment in South America can be challenging for pharmaceutical companies. Each country has its own set of regulations and approval processes, which can be time-consuming and costly. Additionally, the high cost of oncology drugs can be a barrier to access for many patients in the region. Public healthcare systems in some countries may not cover the cost of expensive cancer treatments, leading to disparities in access to care.
Underlying macroeconomic factors: The economic conditions in South America have a significant impact on the oncology drugs market. The region has experienced a period of economic instability in recent years, which has affected healthcare spending. However, the growing middle class in countries like Brazil and Colombia has led to an increase in private healthcare spending. The aging population in the region is also a driver of demand for oncology drugs, as cancer is more common in older adults. In conclusion, the oncology drugs market in South America is driven by customer preferences for advanced and innovative treatments, as well as the growing incidence of cancer in the region. The trend towards personalized medicine and the use of biosimilars are also shaping the market. However, the regulatory environment and high cost of drugs can be a barrier to access for many patients. The economic conditions in the region, including the growing middle class and aging population, are also important factors in the development of the market.
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.
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