Anti-Diabetes Drugs - Bangladesh | Statista Market Forecast

The Anti-Diabetes Drugs market in Bangladesh is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is projected to reach US$230.10m in 2024.
Furthermore, it is anticipated that the market will display an annual growth rate (CAGR 2024-2029) of 8.85%, leading to a market volume of US$351.60m by 2029.
In terms of global comparison, it is worth noting that United States is set to generate the highest revenue in the Anti-Diabetes Drugs market.
The projected revenue for the United States in 2024 stands at an impressive US$37.84bn.
This indicates the strong presence and potential of the market United States.
The demand for anti-diabetes drugs in Bangladesh is increasing rapidly due to the rising prevalence of diabetes in the country.

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 demand for Anti-Diabetes Drugs in Bangladesh has been steadily increasing over the past few years.

Customer preferences: Customers in Bangladesh prefer oral hypoglycemic agents over injectable ones due to convenience and ease of use. Metformin remains the most commonly prescribed drug for diabetes in Bangladesh. However, there has been a recent increase in demand for newer classes of drugs such as SGLT2 inhibitors and DPP4 inhibitors.

Trends in the market: The Anti-Diabetes Drugs market in Bangladesh is expected to grow in the coming years due to the rising prevalence of diabetes in the country. The increasing urbanization and sedentary lifestyle of the population has led to a rise in obesity and diabetes. Furthermore, the government of Bangladesh has taken initiatives to increase awareness about diabetes and its management, which has led to an increase in demand for anti-diabetes drugs.

Local special circumstances: Bangladesh is a low-income country with a large population. The majority of the population cannot afford expensive medication, and thus, there is a high demand for affordable anti-diabetes drugs. The government of Bangladesh has implemented policies to provide free or subsidized healthcare to the population, which has increased access to anti-diabetes drugs.

Underlying macroeconomic factors: The GDP of Bangladesh has been steadily increasing over the past few years, which has led to an increase in disposable income of the population. This has led to an increase in demand for healthcare services, including anti-diabetes drugs. Furthermore, the government of Bangladesh has taken initiatives to improve the healthcare infrastructure in the country, which has led to an increase in the availability of anti-diabetes drugs.

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.