Anti-Diabetes Drugs - Belgium | Statista Market Forecast

in Belgium, being a part of the global Anti-Diabetes Drugs market, is expected to witness significant revenue growth in the coming years.
According to projections, the revenue in this market is projected to reach US$262.70m euros by the year 2024.
This growth is anticipated to continue at an annual growth rate of 6.71% from 2024 to 2029, resulting in a market volume of US$363.60m euros by the end of 2029.
When compared on a global scale, it is worth noting that United States is expected to generate the highest revenue in the Anti-Diabetes Drugs market, with a projected revenue of US$37.84bn in the year 2024.
Belgium has seen a surge in the demand for innovative anti-diabetes drugs, driven by the country's high prevalence of diabetes and its strong healthcare infrastructure.

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 Belgium has been experiencing steady growth in recent years.

Customer preferences: Belgian consumers are increasingly concerned about their health and are actively seeking out ways to prevent and manage chronic diseases such as diabetes. As a result, there is a growing demand for anti-diabetes drugs in the country. Patients are also becoming more informed about the different treatment options available to them and are seeking out drugs that have fewer side effects and are more effective in managing their condition.

Trends in the market: One of the key trends in the Anti-Diabetes Drugs market in Belgium is the increasing use of combination therapies. Many patients are now using more than one drug to manage their condition, as this has been shown to be more effective in controlling blood sugar levels. There is also a growing trend towards the use of newer drugs such as GLP-1 agonists and SGLT2 inhibitors, which have been shown to be more effective in managing diabetes than older drugs such as metformin.

Local special circumstances: Belgium has a well-developed healthcare system, which provides patients with access to a wide range of treatments for diabetes. The country also has a high level of diabetes awareness, with many healthcare professionals actively promoting the importance of early diagnosis and effective management of the condition. This has helped to drive demand for anti-diabetes drugs in the country.

Underlying macroeconomic factors: One of the key macroeconomic factors driving the growth of the Anti-Diabetes Drugs market in Belgium is the ageing population. As the population ages, the prevalence of diabetes is expected to increase, which will drive demand for anti-diabetes drugs. Another factor is the increasing prevalence of obesity, which is a major risk factor for diabetes. As obesity rates continue to rise in Belgium, the demand for anti-diabetes drugs is likely to increase further. Finally, the increasing availability of health insurance in the country is also driving demand for anti-diabetes drugs, as more people are able to afford the cost of treatment.

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.