Oncology Drugs - Romania

Romania

In Romania, the Oncology Drugs market is forecasted to achieve a revenue of US$308.40m in 2024.
It is anticipated that the revenue will experience a compound annual growth rate (CAGR 2024-2028) of 14.26%, leading to a market volume of US$525.60m by 2028.
When comparing globally, United States is expected to generate the highest revenue of US$114,600.00m in 2024.
The demand for innovative oncology drugs in Romania is growing rapidly, driven by increased awareness and government initiatives to improve cancer care.

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

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Analyst Opinion

The Oncology Drugs market in Romania has been experiencing significant growth in recent years.

Customer preferences: Patients in Romania are increasingly demanding access to innovative cancer treatments, including targeted therapies and immunotherapies. This is due in part to a growing awareness of the benefits of these treatments, as well as to the increasing availability of information about them through social media and other channels.

Trends in the market: One of the key trends in the Romanian Oncology Drugs market is the increasing use of targeted therapies and immunotherapies. These treatments are becoming more widely available as a result of the growing number of clinical trials being conducted in Romania, as well as the increasing number of partnerships between Romanian hospitals and international pharmaceutical companies.Another trend in the market is the growing importance of biosimilars. These drugs, which are similar to existing biologic drugs but are produced by different manufacturers, are becoming increasingly popular as a way to reduce the cost of cancer treatment.

Local special circumstances: One of the main challenges facing the Romanian Oncology Drugs market is the limited availability of oncologists and other healthcare professionals with specialized training in cancer care. This has led to a shortage of qualified personnel in some areas, which can make it difficult for patients to access the care they need.Another challenge is the relatively low level of public funding for cancer treatment in Romania. While the government does provide some funding for cancer care, it is often insufficient to cover the full cost of treatment, particularly for patients who require expensive targeted therapies or immunotherapies.

Underlying macroeconomic factors: The growth of the Oncology Drugs market in Romania is being driven by a number of underlying macroeconomic factors. These include the country's relatively low labor costs, which make it an attractive location for pharmaceutical companies looking to conduct clinical trials or establish manufacturing facilities.In addition, Romania's membership in the European Union has helped to facilitate the import and export of pharmaceutical products, making it easier for companies to bring new drugs to market and for patients to access them.Overall, the Oncology Drugs market in Romania is expected to continue growing in the coming years, driven by increasing demand for innovative cancer treatments and a growing number of partnerships between Romanian hospitals and international pharmaceutical companies. However, challenges such as the shortage of qualified personnel and limited public funding for cancer care will need to be addressed in order to ensure that patients have access to the care they need.

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.