Oncology Drugs - Zimbabwe | Statista Market Forecast

The Oncology Drugs market in Zimbabwe is expected to witness a significant growth in revenue, with a projected value of US$9.65m in 2024.
This revenue is anticipated to experience an annual growth rate of 5.21% between 2024 and 2029, ultimately reaching a market volume of US$12.45m by 2029.
It is worth noting that, in the context of global comparison, United States is projected to generate the highest revenue in this market, with an estimated value of US$103.90bn in 2024.
Zimbabwe's oncology drug market is witnessing a surge in demand for advanced targeted therapies, driven by increasing awareness and growing investments in healthcare infrastructure.

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 Zimbabwean Oncology Drugs market has seen a steady growth in recent years, driven by a growing demand for cancer treatment and an increase in government spending on healthcare.

Customer preferences: Patients in Zimbabwe are increasingly seeking advanced cancer treatments, including targeted therapies and immunotherapies. This is in line with global trends, as cancer patients are becoming more educated about their treatment options and are demanding personalized and effective therapies.

Trends in the market: The Zimbabwean government has been investing heavily in its healthcare system in recent years, which has led to an increase in the availability of oncology drugs in the country. Additionally, the government has been working to improve the regulatory environment for pharmaceuticals, which has led to an increase in the number of drugs being approved for use in the country. This has attracted several international pharmaceutical companies to the Zimbabwean market, which has led to increased competition and innovation in the oncology drugs market.

Local special circumstances: Zimbabwe has a high prevalence of HIV/AIDS, which has led to an increased incidence of cancers such as Kaposi's sarcoma and non-Hodgkin's lymphoma. This has led to a growing demand for oncology drugs in the country. Additionally, Zimbabwe has a large rural population, which has limited access to healthcare services and has led to a growing demand for affordable and accessible cancer treatments.

Underlying macroeconomic factors: Zimbabwe has been experiencing economic challenges in recent years, including high inflation and a shortage of foreign currency. This has led to challenges in the healthcare sector, including shortages of essential medicines and medical supplies. However, the government has been working to address these challenges, and the recent economic reforms have led to a stabilization of the currency and an increase in foreign investment in the country. This has led to an increase in the availability of oncology drugs in the country and has helped to drive growth in the 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.