Oncology Drugs - Africa

Africa

The projected revenue in the Oncology Drugs market in Africa is set to reach €1.87bn in 2024.
With an expected annual growth rate (CAGR 2024-2029) of 6.98%, the market volume is anticipated to reach €2.62bn by 2029.
In comparison to other countries worldwide, United States is expected to generate the highest revenue, amounting to €95,370.00m in 2024.
In Africa, there is a growing demand for innovative oncology drugs to address the increasing prevalence of cancer in the region.

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

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Región

Comparación de regiones

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Analyst Opinion

The demand for oncology drugs in Africa has been on the rise in recent years.

Customer preferences: African countries have been experiencing an increase in cancer cases, which has led to a greater demand for oncology drugs. Patients are seeking more effective and affordable treatments, which has led to a shift towards generic drugs. Additionally, there is a growing preference for targeted therapies that offer better outcomes and fewer side effects.

Trends in the market: The African oncology drugs market has been growing steadily, driven by factors such as an aging population, changing lifestyles, and increased access to healthcare. Countries such as South Africa, Egypt, and Nigeria have been leading the way in terms of market growth. The market has also been witnessing a rise in public-private partnerships, which has helped to improve access to oncology drugs in remote and underserved areas.

Local special circumstances: The African market is characterized by a high level of fragmentation, with many small and medium-sized companies operating alongside multinational pharmaceutical giants. This has led to intense competition and pricing pressures, particularly in the generic drugs segment. Additionally, the lack of adequate healthcare infrastructure and trained personnel in many African countries has posed a challenge to the delivery of oncology drugs.

Underlying macroeconomic factors: The growth of the African oncology drugs market is closely linked to broader macroeconomic factors such as GDP growth, healthcare spending, and regulatory frameworks. Many African countries have been experiencing strong economic growth in recent years, which has led to increased healthcare spending and improved access to medicines. However, regulatory challenges such as lengthy approval processes and weak intellectual property protection have posed a challenge to the growth of the market.

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.