Oncology Drugs - Thailand

Thailand

The projected revenue in the Oncology Drugs market for Thailand is estimated to reach €302.60m in 2024.
It is expected to exhibit an annual growth rate (CAGR 2024-2029) of 7.20%, which will lead to a market volume of €428.40m by 2029.
When compared globally, United States is projected to generate the highest revenue of €96,360.00m in 2024.
The demand for innovative oncology drugs in Thailand is rapidly increasing due to the rising incidence of cancer cases.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Oncology Drugs market in Thailand has been growing steadily over the past few years, driven by various factors such as an aging population, increasing cancer incidence rates, and advancements in medical technology.

Customer preferences: Thai customers have shown a growing preference for targeted therapies and immunotherapies over traditional chemotherapy. This is due to the fact that these treatments have fewer side effects and are more effective in treating certain types of cancer. Additionally, there is a growing demand for personalized medicine, which involves tailoring treatment plans to individual patients based on their genetic makeup.

Trends in the market: The Oncology Drugs market in Thailand has seen a trend towards the development of biosimilars, which are cheaper versions of biologic drugs. This is due to the fact that biosimilars are becoming more widely accepted as safe and effective alternatives to their branded counterparts. Additionally, there has been a trend towards the development of combination therapies, which involve using multiple drugs to treat cancer in order to increase their effectiveness.

Local special circumstances: One of the unique challenges in the Thai market is the lack of access to healthcare in rural areas. This has led to a growing demand for telemedicine and other remote healthcare services, which can help to bridge the gap between patients in rural areas and healthcare providers in urban areas. Additionally, there is a growing demand for affordable cancer treatments, as many patients are unable to afford the high cost of branded drugs.

Underlying macroeconomic factors: The Thai government has been investing heavily in healthcare infrastructure and technology in recent years, which has helped to drive growth in the Oncology Drugs market. Additionally, the country's aging population and increasing cancer incidence rates have created a growing demand for cancer treatments. Finally, Thailand's position as a hub for medical tourism has helped to attract foreign investment in the healthcare sector, which has further contributed to the growth of the Oncology Drugs 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.