Oncology Drugs - Kenya

Kenya

The projected revenue for the Oncology Drugs market in Kenya is expected to reach US$94.88m in 2024.
It is anticipated that there will be a steady annual growth rate of 13.88% from 2024 to 2028, resulting in a market volume of US$159.60m by 2028.
In comparison to other countries, United States is projected to generate the highest revenue in the market, with an estimated amount of US$114,600.00m in 2024.
Kenya's oncology drug market is experiencing significant growth due to an increase in cancer cases and improved access to healthcare facilities.

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

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Analyst Opinion

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

Customer preferences: Patients in Kenya are increasingly seeking better treatment options for cancer, leading to a higher demand for oncology drugs. The preference for newer and more effective drugs is driving the growth of the market. Additionally, with the rising incidence of cancer in the country, patients are willing to pay a premium for drugs that offer better outcomes.

Trends in the market: The oncology drugs market in Kenya is witnessing a shift towards targeted therapies. Targeted therapies are drugs that specifically target cancer cells, while leaving normal cells unharmed. This approach is gaining popularity as it offers better outcomes and fewer side effects compared to traditional chemotherapy. The market is also seeing an increase in the number of biosimilars, which are drugs that are similar to existing biologic drugs but are cheaper.

Local special circumstances: Kenya has a relatively underdeveloped healthcare system, which poses challenges for the oncology drugs market. The lack of adequate infrastructure and trained personnel means that patients often have to travel long distances to access treatment. Additionally, the cost of cancer treatment is high, making it unaffordable for many patients.

Underlying macroeconomic factors: The Kenyan economy has been growing steadily in recent years, which has led to an increase in disposable income. This has enabled more people to afford expensive cancer treatments, including oncology drugs. Additionally, the government has taken steps to improve access to healthcare by investing in infrastructure and expanding health insurance coverage. These factors are expected to drive the growth of the oncology drugs market in Kenya in the coming years.

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.