Anti-Diabetes Drugs - Argentina | Statista Market Forecast

In Argentina, the revenue in the Anti-Diabetes Drugs market is expected to reach US$278.30m by 2024.
Looking ahead, the market is projected to grow at an annual growth rate (CAGR 2024-2029) of 6.83%, leading to a market volume of US$387.20m by 2029.
When compared to other countries worldwide, United States is anticipated to generate the highest revenue in this market, with a projected revenue of US$37.84bn in 2024.
Argentina's anti-diabetes drug market is witnessing a surge in demand due to the country's rising prevalence of diabetes.

Definition:
The Anti-Diabetes Drugs market covers drugs to treat the metabolism disorder diabetes mellitus. It includes insulin and non-insulinotropic drugs such as glucagen-like peptide-1 (GLP-1) receptor agonists and dipeptidyl peptidase-4 (DPP-4) inhibitors. While patients with type 1 diabetes require lifelong insulin therapy, type 2 diabetes can also be treated with medication.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novo Nordisk, Eli Lilly, Sanofi, Merck & Co

Drugs to treat diabetes mellitus (oral intake and injections)
Insulin
Non-insulinotropic anti-diabetic drugs

Drugs to treat other metabolic disorders or other autoimmune diseases
Lipid-lowering agents
Drugs to treat hypertension
Diagnostics
Devices such as continuous glucose monitors

The Anti-Diabetes Drugs market in Argentina is witnessing significant growth in recent years due to several factors.

Customer preferences: The increasing prevalence of diabetes in Argentina has led to a rise in demand for anti-diabetes drugs. Patients are increasingly seeking effective and affordable treatment options to manage their condition. Additionally, there is a growing preference for combination therapies that can target multiple aspects of the disease.

Trends in the market: One of the key trends in the anti-diabetes drugs market in Argentina is the increasing use of generic drugs. This is due to the government's efforts to reduce healthcare costs by promoting the use of generic drugs. Another trend is the growing popularity of GLP-1 receptor agonists, which are injectable drugs that can help regulate blood sugar levels. These drugs are becoming more widely available and affordable, making them a popular choice among patients.

Local special circumstances: Argentina has a large population of people living with diabetes, which is driving demand for anti-diabetes drugs. Additionally, the country has a well-established healthcare system that provides access to affordable drugs. However, the market is also facing challenges such as the high cost of new innovative drugs and the lack of awareness among patients about the importance of managing their condition.

Underlying macroeconomic factors: The economic situation in Argentina has been unstable in recent years, which has impacted the anti-diabetes drugs market. Inflation and currency devaluation have led to higher drug prices, making it difficult for patients to afford their medication. Additionally, the COVID-19 pandemic has disrupted supply chains and led to shortages of certain drugs. However, the government's efforts to promote the use of generic drugs and regulate drug prices are expected to drive growth in the market in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

In 2021, diabetes mellitus caused an estimated 1.62 million deaths worldwide, making it the eighth leading cause of death. Furthermore, it is estimated that 537 million people are currently living with diabetes around the world, with this number projected to rise to some 783 million by the year 2045. Diabetes describes a group of metabolic diseases which cause high blood sugar levels. There are three types of diabetes: type 1 diabetes, type 2 diabetes, and gestational diabetes. However, the majority of diabetes cases are type 2, with an estimated 90 to 95 percent of diabetes cases in the United States type 2. Risk factors for type 2 diabetes include being overweight, being physically inactive, being 45 and older, and having prediabetes.