Oncology Drugs - Bosnia and Herzegovina

Bosnia and Herzegovina

The market of Oncology Drugs market in Bosnia and Herzegovina is expected to witness significant revenue growth in the coming years.
According to projections, the revenue is projected to reach US$30.43m by the year 2024.
This indicates a positive trend in the market, driven by various factors such as increasing prevalence of cancer and advancements in oncology treatments.
Furthermore, the market is anticipated to exhibit an annual growth rate of 13.89% during the period 2024-2028.
This steady growth trajectory is expected to result in a market volume of US$51.19m by the year 2028.
These numbers highlight the potential and opportunities that exist in the Oncology Drugs market in Bosnia and Herzegovina.
When compared to global figures, it is worth noting that United States is expected to generate the highest revenue in the Oncology Drugs market.
In the year 2024, the revenue generated United States is projected to be an impressive US$114,600.00m.
This showcases the dominance of the United States in this market, driven by factors such as a large population, high healthcare expenditure, and advanced healthcare infrastructure.
Overall, the Oncology Drugs market in Bosnia and Herzegovina is poised for growth and offers promising opportunities in the coming years.
In Bosnia and Herzegovina, the oncology drugs market is witnessing a surge in demand for innovative and targeted therapies.

Key regions: Germany, India, United Kingdom, China, Canada

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Analyst Opinion

The demand for oncology drugs in Bosnia and Herzegovina has been steadily increasing in recent years.

Customer preferences: Patients in Bosnia and Herzegovina are increasingly opting for targeted therapies and immunotherapies for the treatment of cancer. This is due to the relatively high success rates of these treatments and the lower incidence of side effects compared to traditional chemotherapy. Patients are also more willing to pay for these treatments, as they are often covered by the country's public health insurance system.

Trends in the market: The oncology drugs market in Bosnia and Herzegovina is expected to continue its growth trajectory in the coming years, driven by an aging population and an increase in cancer incidence rates. The market is also expected to benefit from the introduction of new and innovative treatments, particularly in the field of immunotherapy.

Local special circumstances: Bosnia and Herzegovina is a lower-middle-income country with a relatively weak healthcare infrastructure. The country's healthcare system is highly decentralized, with responsibility for healthcare delivery split between the entities of the Federation of Bosnia and Herzegovina and the Republika Srpska. This can lead to disparities in healthcare provision between different regions of the country.

Underlying macroeconomic factors: Bosnia and Herzegovina's economy has been growing steadily in recent years, with GDP growth of around 3% in 2019. However, the country still faces significant economic challenges, including high levels of unemployment and a large informal economy. These factors can limit the ability of patients to access expensive oncology treatments, particularly those not covered by public health insurance.

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.