Oncology Drugs - NAFTA

NAFTA

The projected revenue for the Oncology Drugs market in NAFTA is expected to reach US$119.90bn by 2024.
Furthermore, the market is anticipated to exhibit an annual growth rate (CAGR 2024-2028) of 13.56%, leading to a market volume of US$199.40bn by 2028.
When compared globally, United States is expected to generate the highest revenue in the Oncology Drugs market, with an estimated value of US$114,600.00m in 2024.
The United States, being a leader in pharmaceutical innovation, continues to dominate the NAFTA oncology drug market with advanced treatments and breakthrough therapies.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Oncology Drugs market in NAFTA has been experiencing significant growth due to various factors.

Customer preferences: Customers in the NAFTA region have a high demand for oncology drugs due to the increasing prevalence of cancer. Additionally, the aging population in the region has resulted in an increase in cancer incidence, leading to a higher demand for cancer treatments.

Trends in the market: One of the trends in the Oncology Drugs market in NAFTA is the increasing use of immunotherapy. This treatment method harnesses the body's immune system to fight cancer cells, resulting in fewer side effects and better outcomes for patients. Another trend is the development of targeted therapies, which are designed to attack specific cancer cells, resulting in more effective treatments with fewer side effects.

Local special circumstances: The United States is the largest market for oncology drugs in the NAFTA region, with a wide range of cancer treatments available. Canada also has a well-developed oncology drugs market, with an emphasis on improving patient outcomes and reducing healthcare costs. Mexico, on the other hand, has a less developed oncology drugs market, with limited access to cancer treatments in some regions.

Underlying macroeconomic factors: The increasing prevalence of cancer in the NAFTA region is one of the main macroeconomic factors driving the growth of the oncology drugs market. Additionally, the high cost of cancer treatments has resulted in a significant market for generic cancer drugs, which are more affordable for patients. The increasing investment in research and development by pharmaceutical companies has also contributed to the growth of the oncology drugs market in NAFTA.

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.