Anti-Diabetes Drugs - Africa

Africa

The Anti-Diabetes Drugs market in Africa is expected to witness a significant increase in revenue, with projected earnings of US$1.48bn by 2024.
This growth is anticipated to continue at a steady pace, with a compound annual growth rate (CAGR) of 7.75% between 2024 and 2029.
As a result, the market volume is estimated to reach US$2.15bn by 2029.
When comparing this market globally, it is noteworthy that United States will contribute the highest revenue, with an expected figure of US$37,840.00m in 2024.
in Africa, however, is poised to make significant strides in this market.
In Africa, there is a growing demand for innovative and affordable anti-diabetes drugs to combat the rising prevalence of diabetes in the region.

Key regions: India, Australia, Italy, Europe, Brazil

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Anti-Diabetes Drugs in Africa is steadily increasing due to several factors.

Customer preferences: African customers are becoming increasingly aware of diabetes and its complications, leading to a higher demand for anti-diabetes drugs. They are also seeking more affordable and accessible treatment options.

Trends in the market: The African market for anti-diabetes drugs is experiencing a shift towards generic drugs due to their lower prices. This trend is driven by the need to make treatment more affordable for patients. Additionally, there is a growing trend towards the use of combination therapies that offer better efficacy and convenience for patients.

Local special circumstances: The lack of access to healthcare facilities and trained medical personnel in some African countries is a major challenge in the treatment of diabetes. This has led to the use of traditional medicine and alternative therapies, which may not be effective or safe. Governments and healthcare providers are working to address this challenge by increasing access to healthcare facilities and training more medical personnel.

Underlying macroeconomic factors: The economic growth in Africa is driving the demand for anti-diabetes drugs. As the middle class grows, there is a higher demand for healthcare services, including diabetes treatment. Additionally, the prevalence of diabetes is increasing due to changes in lifestyle and diet. This has led to a higher demand for anti-diabetes drugs in the region.

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.