Oncology Drugs - South Africa

South Africa

The South African Oncology Drugs market is expected to achieve a revenue of €0.53bn in 2024.
Looking ahead, this market is projected to experience an annual growth rate (CAGR 2024-2029) of 6.61%, which will lead to a market volume of €0.73bn by 2029.
In comparison to other countries globally, United States is anticipated to generate the highest revenue, reaching €96,360.00m in 2024.
"South Africa is experiencing a growing demand for innovative oncology drugs, driven by an increasing number of cancer cases and a need for advanced treatment options."

Key regions: France, Europe, United Kingdom, Brazil, India

Marché

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Comparaison de régions

Monnaie

Analyst Opinion

The Oncology Drugs market in South Africa is experiencing growth due to various factors.

Customer preferences: South Africa has a high burden of cancer cases, and as the population ages, the demand for oncology drugs is increasing. Patients are also becoming more aware of the availability of new drugs and treatments, and are willing to pay for them. Additionally, the increasing prevalence of lifestyle diseases such as obesity and smoking-related cancers is driving demand for oncology drugs.

Trends in the market: The trend in the South African oncology drugs market is towards targeted therapies and immunotherapies. Targeted therapies are drugs that are designed to specifically target cancer cells, while leaving normal cells unharmed. Immunotherapies are drugs that stimulate the body's immune system to attack cancer cells. These new therapies are more effective than traditional chemotherapy and have fewer side effects. The trend towards personalized medicine is also growing, as doctors are able to use genetic testing to identify the most effective treatment for each patient.

Local special circumstances: South Africa has a large public healthcare system, which provides free or low-cost healthcare to the majority of the population. However, the public system is often underfunded and understaffed, leading to long waiting times and a lack of access to new treatments. Private healthcare is available for those who can afford it, and many patients are willing to pay for the latest drugs and treatments. This has led to a two-tiered healthcare system, where access to healthcare is dependent on income.

Underlying macroeconomic factors: South Africa is the second-largest economy in Africa, but has high levels of income inequality and unemployment. The pharmaceutical industry is highly regulated, with strict price controls and a complex regulatory environment. The government is trying to encourage investment in the pharmaceutical sector, but there are still many challenges to overcome. The weak rand has also made imported drugs more expensive, putting pressure on pharmaceutical companies to keep prices low. Despite these challenges, the oncology drugs market in South Africa is expected to continue to grow 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.