Oncology Drugs - Southern Asia

Southern Asia

In Southern Asia, the revenue in the Oncology Drugs market is forecasted to reach US$2.21bn in 2024.
It is anticipated that the revenue will experience a Compound Annual Growth Rate (CAGR 2024-2029) of 7.41%, leading to a market volume of US$3.16bn by 2029.
When compared globally, United States is expected to generate the highest revenue, amounting to US$103,900.00m in 2024.
In Southern Asia, the demand for oncology drugs has significantly increased due to an aging population and the rising prevalence of cancer cases.

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

Market

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Analyst Opinion

The Oncology Drugs market in Southern Asia has been steadily growing over the past few years.

Customer preferences: The increasing prevalence of cancer in the region has resulted in a growing demand for effective oncology drugs. Patients and healthcare providers in Southern Asia are increasingly seeking out new and innovative treatments that can improve patient outcomes and quality of life.

Trends in the market: India and China are the largest markets for oncology drugs in Southern Asia, with both countries seeing significant growth in recent years. In India, the market for oncology drugs is being driven by a rise in cancer cases, as well as an increase in government spending on healthcare. In China, the market is being fueled by a growing middle class and an aging population, both of which are increasing demand for oncology drugs.

Local special circumstances: One of the key challenges facing the oncology drugs market in Southern Asia is the lack of access to healthcare in many parts of the region. This is particularly true in rural areas, where patients may have limited access to healthcare facilities and may not be able to afford expensive treatments. As a result, there is a growing need for affordable and accessible oncology drugs in the region.

Underlying macroeconomic factors: Several macroeconomic factors are driving the growth of the oncology drugs market in Southern Asia. These include rapid urbanization, rising incomes, and increasing healthcare spending by governments. In addition, the region's large and aging population is also contributing to the growth of the market, as older individuals are more likely to develop cancer and require treatment. Overall, these factors are expected to continue driving growth in the oncology drugs market in Southern Asia in the coming years.

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.