Key regions: France, Europe, United Kingdom, Brazil, India
The demand for oncology drugs in Western Africa has been steadily increasing in recent years.
Customer preferences: As in many other regions, cancer is a significant health concern in Western Africa. With an aging population and lifestyle changes, the incidence of cancer is on the rise. Patients in the region are increasingly seeking treatment options that are effective, affordable, and accessible. Due to the high cost of branded drugs, there is a growing demand for generic oncology drugs in the region.
Trends in the market: The oncology drugs market in Western Africa is expected to grow significantly in the coming years. There is a growing trend towards targeted therapies, which are designed to treat specific types of cancer and have fewer side effects than traditional chemotherapy. In addition, there is a growing interest in immunotherapy, which uses the body's immune system to fight cancer. The market for biosimilars is also expected to grow, as more patents for biologic drugs expire.
Local special circumstances: The availability of oncology drugs in Western Africa is limited due to the lack of infrastructure and resources in the region. The regulatory environment is also challenging, with many countries in the region lacking the necessary regulatory frameworks to approve and monitor drugs. In addition, there is a lack of trained healthcare professionals to administer and monitor oncology drugs.
Underlying macroeconomic factors: The economic growth in Western Africa has been robust in recent years, with several countries in the region experiencing high levels of GDP growth. This has led to an increase in healthcare spending, which is expected to drive the growth of the oncology drugs market in the region. However, the cost of oncology drugs remains a significant barrier to access, particularly for low-income patients. The lack of health insurance coverage and inadequate government funding for healthcare also limit access to oncology drugs in the region.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
