Oncology Drugs - Uruguay

Uruguay

In Uruguay, the revenue in the Oncology Drugs market is predicted to reach US$93.72m in 2024.
It is anticipated that the revenue will experience an annual growth rate (CAGR 2024-2029) of 6.78%, leading to a market volume of US$130.10m by 2029.
When comparing globally, United States is expected to generate the highest revenue of US$103,900.00m in 2024.
In Uruguay, the demand for oncology drugs has been steadily increasing, driven by a growing elderly population and advancements in cancer treatment.

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

Market

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Analyst Opinion

The use of oncology drugs has been on the rise in Uruguay in recent years.

Customer preferences: Uruguayans have increasingly been seeking out oncology drugs due to the rising incidence of cancer in the country. Patients are also becoming more aware of the benefits of early detection and treatment, leading to an increase in demand for oncology drugs.

Trends in the market: The oncology drugs market in Uruguay has been growing steadily in recent years. This growth can be attributed to several factors, including the aging population, the rise in cancer cases, and the increasing availability of new and innovative oncology drugs. Additionally, the government has been investing in healthcare infrastructure and increasing access to healthcare services, which has further boosted the market.

Local special circumstances: Uruguay has a universal healthcare system, which means that all citizens have access to healthcare services. This has helped to increase the demand for oncology drugs, as more people are able to access these treatments. Additionally, the country has a relatively high incidence of cancer, which has further driven demand for oncology drugs.

Underlying macroeconomic factors: Uruguay has a stable economy, which has helped to support the growth of the oncology drugs market. Additionally, the government has been investing in healthcare infrastructure, which has helped to improve access to healthcare services. The country has also been attracting foreign investment in the healthcare sector, which has further boosted the market. Overall, the oncology drugs market in Uruguay is expected to continue growing in the coming years, as the government continues to invest in healthcare infrastructure and the population ages.

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.