Anti-Diabetes Drugs - Australia | Statista Market Forecast

The Anti-Diabetes Drugs market in Australia is anticipated to witness a significant boost in revenue, with projections indicating a staggering amount of US$597.10m in 2024.
Furthermore, it is expected that the market will continue to grow at an annual growth rate of 7.45%, leading to a substantial increase in market volume, which is estimated to reach US$855.20m by 2029.
Interestingly, when compared globally, United States is predicted to generate the highest revenue, amounting to a remarkable US$37.84bn in 2024.
The Australian market for anti-diabetes drugs is witnessing a growing demand for personalized treatment options.

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

Australia, known for its beautiful beaches and unique wildlife, is also a country that has been facing a growing concern regarding diabetes. As a result, the Anti-Diabetes Drugs market has been developing rapidly in the country.

Customer preferences: The Australian population has been increasingly health-conscious and aware of the risks associated with diabetes. This has led to a rising demand for anti-diabetes drugs, as more people are seeking treatment for the condition. In addition, there has been a growing preference for drugs that have fewer side effects and are more effective in managing the disease.

Trends in the market: One of the major trends in the Anti-Diabetes Drugs market in Australia has been the increasing use of combination therapies. This involves the use of two or more drugs to manage the disease, which has been found to be more effective than using a single drug. Another trend has been the development of new drugs that are more effective and have fewer side effects.

Local special circumstances: Australia has a unique healthcare system that provides universal healthcare to its citizens. This means that the government plays a significant role in regulating the pharmaceutical industry, including the Anti-Diabetes Drugs market. As a result, there are strict regulations in place to ensure the safety and efficacy of drugs.

Underlying macroeconomic factors: The growing concern regarding diabetes in Australia can be attributed to several underlying macroeconomic factors. These include an aging population, unhealthy lifestyle choices, and rising obesity rates. In addition, the increasing prevalence of diabetes has put a strain on the healthcare system, leading to a greater focus on prevention and management of the disease.In conclusion, the Anti-Diabetes Drugs market in Australia has been developing rapidly due to the increasing demand for treatment and the development of new drugs. The use of combination therapies and strict regulations have also contributed to the growth of the market. The underlying macroeconomic factors, such as an aging population and rising obesity rates, have further fueled the need for effective diabetes management in the country.

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.