Key regions: France, Europe, United Kingdom, Brazil, India
Taiwan, a small island nation in East Asia, has been experiencing a steady growth in the Oncology Drugs market.
Customer preferences: As in many countries, the aging population in Taiwan has resulted in an increase in cancer cases, leading to a higher demand for oncology drugs. Additionally, with the rise of healthcare awareness and disposable income, patients are more willing to invest in expensive cancer treatments, leading to a higher demand for innovative and effective oncology drugs.
Trends in the market: One trend that has been observed in the Taiwanese market is the shift towards targeted therapies. These therapies use drugs that target specific molecules or genes involved in cancer growth and are often more effective and less toxic than traditional chemotherapy. Another trend is the increasing use of immunotherapy, which uses the patient's immune system to fight cancer cells. This treatment has shown promising results in certain types of cancer and is expected to gain more popularity in the coming years.
Local special circumstances: Taiwan has a well-established healthcare system that provides universal coverage to its citizens. This has resulted in a high demand for innovative and effective oncology drugs, as patients have access to a wide range of treatments. Additionally, Taiwan's proximity to China has made it an attractive market for pharmaceutical companies looking to expand their reach in the Asia-Pacific region.
Underlying macroeconomic factors: Taiwan has a strong economy, with a high GDP per capita and a well-educated workforce. This has led to a high level of healthcare spending, which has contributed to the growth of the oncology drugs market. Additionally, Taiwan's government has implemented policies to encourage the development of its biotech industry, which has resulted in an increase in the number of local companies producing oncology drugs. These factors, combined with the aging population and the high demand for innovative treatments, are expected to continue driving growth in the oncology drugs market in Taiwan.
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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