Oncology Drugs - Brunei Darussalam

Brunei Darussalam

The Oncology Drugs market in Brunei Darussalam is anticipated to witness a significant surge in revenue, projected to reach US$6.81m in 2024.
Moreover, it is expected to exhibit a steady annual growth rate (CAGR 2024-2028) of 13.40%, ultimately leading to a market volume of US$11.26m by 2028.
When compared on a global scale, United States is projected to generate the highest revenue, amounting to a staggering US$114,600.00m in 2024.
Brunei Darussalam's oncology drug market is witnessing a surge in demand for innovative therapies, driven by the country's growing healthcare infrastructure and focus on improving cancer treatment outcomes.

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

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Analyst Opinion

The demand for oncology drugs in Brunei Darussalam has been increasing steadily in recent years.

Customer preferences: Patients in Brunei Darussalam tend to prefer targeted therapies and immunotherapies over traditional chemotherapy due to the potential for fewer side effects and better outcomes. This preference is in line with global trends, as targeted therapies and immunotherapies continue to dominate the oncology drugs market worldwide.

Trends in the market: The oncology drugs market in Brunei Darussalam is expected to continue growing due to several factors. One of the main drivers is the increasing prevalence of cancer in the country, which is partly due to an aging population and changing lifestyle factors. Additionally, there is a growing awareness of the importance of early cancer detection and treatment, which is leading to more patients seeking medical care.

Local special circumstances: One unique aspect of the oncology drugs market in Brunei Darussalam is the country's small population size. This means that there is a limited market for oncology drugs, which can make it challenging for pharmaceutical companies to justify investing in clinical trials and drug development specifically for the Brunei market. As a result, many oncology drugs used in Brunei are imported from other countries.

Underlying macroeconomic factors: Brunei Darussalam has a high GDP per capita, which means that patients have more disposable income to spend on healthcare. Additionally, the country's healthcare system is heavily subsidized by the government, which helps to make oncology drugs more affordable for patients. However, the small population size and limited market can make it challenging for pharmaceutical companies to justify investing in the development of new oncology drugs specifically for the Brunei 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.