Oncology Drugs - Thailand | Statista Market Forecast

The projected revenue in the Oncology Drugs market for Thailand is estimated to reach US$326.30m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.98%, which will lead to a market volume of US$457.20m by 2029.
When compared globally, United States is projected to generate the highest revenue of US$103.90bn in 2024.
The demand for innovative oncology drugs in Thailand is rapidly increasing due to the rising incidence 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 Thailand has been growing steadily over the past few years, driven by various factors such as an aging population, increasing cancer incidence rates, and advancements in medical technology.

Customer preferences: Thai customers have shown a growing preference for targeted therapies and immunotherapies over traditional chemotherapy. This is due to the fact that these treatments have fewer side effects and are more effective in treating certain types of cancer. Additionally, there is a growing demand for personalized medicine, which involves tailoring treatment plans to individual patients based on their genetic makeup.

Trends in the market: The Oncology Drugs market in Thailand has seen a trend towards the development of biosimilars, which are cheaper versions of biologic drugs. This is due to the fact that biosimilars are becoming more widely accepted as safe and effective alternatives to their branded counterparts. Additionally, there has been a trend towards the development of combination therapies, which involve using multiple drugs to treat cancer in order to increase their effectiveness.

Local special circumstances: One of the unique challenges in the Thai market is the lack of access to healthcare in rural areas. This has led to a growing demand for telemedicine and other remote healthcare services, which can help to bridge the gap between patients in rural areas and healthcare providers in urban areas. Additionally, there is a growing demand for affordable cancer treatments, as many patients are unable to afford the high cost of branded drugs.

Underlying macroeconomic factors: The Thai government has been investing heavily in healthcare infrastructure and technology in recent years, which has helped to drive growth in the Oncology Drugs market. Additionally, the country's aging population and increasing cancer incidence rates have created a growing demand for cancer treatments. Finally, Thailand's position as a hub for medical tourism has helped to attract foreign investment in the healthcare sector, which has further contributed to the growth of the Oncology Drugs 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.

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.