Oncology Drugs - Worldwide

Worldwide

The Oncology Drugs market worldwide is expected to reach a projected revenue of €178.10bn by 2024.
This forecast indicates that the market is likely to experience an annual growth rate (CAGR 2024-2029) of 6.51%, resulting in a market volume of €244.10bn by 2029.
When compared globally, United States is anticipated to generate the highest revenue, amounting to €95,370.00m in 2024.
The United States remain at the forefront of oncology drug development and innovation, with numerous breakthrough therapies being approved by the FDA.

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

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Región

Comparación de regiones

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Analyst Opinion

The Oncology Drugs market is constantly evolving, with new treatments and therapies being developed to combat cancer.

Customer preferences: Patients and healthcare providers alike are increasingly seeking out personalized treatments for cancer patients. This has led to the development of targeted therapies, which are designed to attack cancer cells while leaving healthy cells unharmed. Additionally, there is a growing demand for immunotherapies, which harness the power of the immune system to fight cancer.

Trends in the market: The Oncology Drugs market is dominated by a handful of large pharmaceutical companies, which have invested heavily in research and development to bring new cancer treatments to market. However, there is also a growing trend towards the use of biosimilars, which are less expensive versions of existing biologic drugs. This trend is being driven by the need to control costs, as well as by increased competition from generic drug manufacturers. Additionally, there is a growing trend towards the use of combination therapies, which involve the use of multiple drugs to treat cancer.

Local special circumstances: In Asia, there is a growing demand for cancer treatments, driven by an aging population and increasing rates of cancer. China is emerging as a major player in the Oncology Drugs market, with a number of domestic pharmaceutical companies investing heavily in research and development. Additionally, there is a growing trend towards the use of traditional Chinese medicine in the treatment of cancer. In India, there is a large market for generic drugs, including generic versions of cancer treatments. However, there are also a number of local pharmaceutical companies that are investing in research and development to bring new treatments to market.

Underlying macroeconomic factors: The Oncology Drugs market is heavily influenced by macroeconomic factors such as government policies, healthcare spending, and demographic trends. For example, in countries with aging populations, there is likely to be a growing demand for cancer treatments. Additionally, changes in healthcare policies and regulations can have a significant impact on the market, as can fluctuations in currency exchange rates. Overall, the Oncology Drugs market is expected to continue to grow in the coming years, driven by increasing rates of cancer and a growing demand for personalized treatments.

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.