Oncology Drugs - Germany

Germany

The projected revenue for the Oncology Drugs market in Germany is estimated to reach US$7.10bn by 2024.
It is expected to exhibit a compound annual growth rate (CAGR 2024-2029) of 6.70%, leading to a market volume of US$9.82bn by 2029.
In comparison to other countries worldwide, United States is anticipated to generate the highest revenue of US$103,900.00m in 2024.
Germany is at the forefront of oncology drug development, with a strong emphasis on precision medicine and innovative therapies.

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

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Analyst Opinion

The Oncology Drugs market in Germany has been experiencing significant growth over the past few years.

Customer preferences: Customers in the Oncology Drugs market in Germany are increasingly seeking personalized treatments that target specific types of cancer. This trend is driven by advancements in technology and research, which have led to the development of more targeted therapies that are tailored to individual patients.

Trends in the market: One of the key trends in the Oncology Drugs market in Germany is the increasing use of immunotherapy treatments. These treatments help to boost the body's natural defenses to fight cancer, and have been shown to be effective in treating a range of cancer types. Another trend is the growing demand for biosimilars, which are cheaper versions of existing biologic drugs that have the same therapeutic effect.

Local special circumstances: Germany has a strong healthcare system that provides extensive coverage for cancer treatments. This has led to a high demand for Oncology Drugs in the country. Additionally, Germany has a large aging population, which is more susceptible to cancer, further driving demand for cancer treatments.

Underlying macroeconomic factors: The German government has been investing heavily in cancer research and development, which has helped to drive innovation in the Oncology Drugs market. Additionally, the country has a strong pharmaceutical industry, which has been able to leverage its expertise to develop new and innovative cancer treatments. Finally, Germany's position as a leading economy in Europe has helped to attract investment in the Oncology Drugs market, further fueling growth in the sector.

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.