Oncology Drugs - Turkey

Turkey

The Oncology Drugs market in Turkey is expected to witness a significant revenue growth.
By 2024, the projected revenue is estimated to reach US$0.33bn.
Furthermore, it is anticipated that the market will continue to expand at a compound annual growth rate (CAGR 2024-2029) of 6.40%.
This steady growth trajectory is predicted to lead to a market volume of US$0.45bn by 2029.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue in the Oncology Drugs market.
In 2024, the projected revenue for the United States is estimated to be US$103,900.00m.
This indicates the dominance of the United States in terms of revenue generation in this market.
Turkey's oncology drug market is experiencing a surge in research and development, with a focus on innovative treatments and personalized medicine.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Oncology Drugs market in Turkey has been showing significant growth in recent years.

Customer preferences: The increasing prevalence of cancer in Turkey has led to a rise in demand for oncology drugs. Patients are increasingly seeking personalized treatment options that can provide better outcomes with fewer side effects. The preference for targeted therapies and immunotherapies has been increasing, as they offer a more precise and effective treatment approach.

Trends in the market: The Turkish government has been taking measures to improve access to cancer treatments, including oncology drugs. The introduction of a new reimbursement system for cancer drugs has made them more affordable for patients. The market has also seen the entry of new players and the launch of innovative drugs, which has increased competition and driven growth.

Local special circumstances: Turkey has a high incidence of certain types of cancer, such as lung and breast cancer. This has led to a higher demand for drugs used in the treatment of these cancers. The country also has a large population of elderly individuals, who are more susceptible to cancer and require specialized treatment options.

Underlying macroeconomic factors: Turkey has a large and growing population, which has resulted in an increase in the number of cancer cases. The country has also been investing in its healthcare infrastructure, which has improved access to cancer treatments. Additionally, the Turkish pharmaceutical industry has been growing, which has led to the development and launch of new oncology drugs.

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.