Anti-Diabetes Drugs - Algeria

Algeria

In Algeria, the Anti-Diabetes Drugs market is forecasted to achieve a revenue of US$93.99m in 2024.
Furthermore, an annual growth rate (CAGR 2024-2029) of 6.37% is anticipated, leading to a market volume of US$128.00m by 2029.
When compared globally, United States is expected to generate the highest revenue, reaching US$37,840.00m in 2024.
Algeria's growing population and increasing prevalence of diabetes are driving demand for innovative anti-diabetes drugs in the country.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The prevalence of diabetes in Algeria has been increasing over the years, leading to a growing demand for anti-diabetes drugs in the country.

Customer preferences: Algerian customers tend to prefer oral medications over injectable ones, which has led to a higher demand for oral anti-diabetes drugs in the market. Additionally, customers are becoming more health-conscious and are seeking out drugs with fewer side effects.

Trends in the market: The anti-diabetes drugs market in Algeria is expected to continue growing due to the rising prevalence of diabetes in the country. In particular, the market for oral medications is expected to see strong growth. However, the market may face challenges such as increasing competition from generic drugs and regulatory hurdles.

Local special circumstances: One unique aspect of the Algerian market is the significant role played by the government in the healthcare sector. The government provides free or heavily subsidized healthcare to its citizens, including medications for chronic diseases such as diabetes. This has led to a high reliance on the public healthcare system for diabetes treatment and management.

Underlying macroeconomic factors: Algeria's economy has been heavily reliant on oil and gas exports, which has led to volatility in the country's finances. In recent years, the government has been implementing economic reforms to diversify the economy and reduce reliance on oil exports. These reforms may have an impact on the healthcare sector, including the anti-diabetes drugs market. Additionally, the COVID-19 pandemic has had a significant impact on the Algerian economy and may affect the demand for anti-diabetes drugs in the short term.

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.