Oncology Drugs - Southeast Asia | Statista Market Forecast

In Southeast Asia, the Oncology Drugs market is anticipated to achieve a revenue of US$2.17bn by 2024.
The market is expected to exhibit a steady annual growth rate (CAGR 2024-2029) of 7.46%, leading to a market volume of US$3.12bn by 2029.
When compared globally, United States is forecasted to generate the highest revenue of US$103.90bn in 2024.
In Southeast Asia, there is a growing demand for innovative oncology drugs due to an increasing prevalence of cancer cases.

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 Southeast Asia has been experiencing significant growth in recent years.

Customer preferences: There is a growing demand for oncology drugs in Southeast Asia due to the rising incidence of cancer in the region. Patients are increasingly seeking better treatment options, leading to a shift towards targeted therapies and personalized medicine.

Trends in the market: One of the key trends in the Southeast Asia oncology drugs market is the increasing adoption of immunotherapy. This is driven by the success of immunotherapy drugs in treating various types of cancers, including lung cancer and melanoma. Another trend is the growing popularity of biosimilars, which are cheaper alternatives to expensive biologic drugs. This is particularly relevant in Southeast Asia, where cost is a major factor in healthcare decision-making.

Local special circumstances: Southeast Asia is a diverse region, with varying levels of economic development and healthcare infrastructure. In countries with more developed healthcare systems, such as Singapore and Malaysia, there is greater access to advanced oncology drugs and treatment options. However, in less developed countries such as Myanmar and Cambodia, access to oncology drugs is limited.

Underlying macroeconomic factors: The Southeast Asia oncology drugs market is influenced by a number of macroeconomic factors. One of the key drivers of growth is the region's rapidly aging population, which is increasing the incidence of cancer. Additionally, rising disposable incomes and greater healthcare spending are making oncology drugs more accessible to patients. However, challenges such as regulatory barriers and intellectual property issues can hinder market growth.

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.