Anti-Diabetes Drugs - Cameroon

Cameroon

The Anti-Diabetes Drugs market in Cameroon is expected to witness a significant increase in revenue, with projections indicating a rise to US$23.75m by the year 2024.
Furthermore, a steady annual growth rate of 7.17% (CAGR 2024-2029) is anticipated, resulting in a market volume of US$33.57m by 2029.
When compared globally, United States is forecasted to generate the highest revenue, amounting to US$37,840.00m in 2024.
Cameroon's anti-diabetes drugs market is witnessing a surge in demand due to the increasing prevalence of diabetes in the country.

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

Market

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Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Cameroon has been experiencing steady growth in recent years.

Customer preferences: Cameroon has a high prevalence of diabetes, which has led to an increased demand for anti-diabetes drugs. Patients in Cameroon prefer oral medications over injectables due to convenience and ease of use. Additionally, patients tend to opt for generic drugs due to their affordability.

Trends in the market: The Anti-Diabetes Drugs market in Cameroon has been witnessing a shift towards combination therapies. Combination therapies offer better glycemic control and reduce the risk of side effects. Furthermore, the market has seen an increase in the use of SGLT-2 inhibitors, which have shown promising results in reducing cardiovascular events in diabetic patients.

Local special circumstances: Cameroon has a high prevalence of diabetes, which is attributed to factors such as urbanization, sedentary lifestyles, and unhealthy diets. The lack of awareness about diabetes and its complications also contributes to the high prevalence of the disease. The government of Cameroon has been taking steps to address this issue by launching awareness campaigns and implementing policies to promote healthy living.

Underlying macroeconomic factors: The healthcare sector in Cameroon is still developing, and access to healthcare services is limited in certain areas. This has led to a reliance on private healthcare providers, which can be expensive for patients. The high cost of healthcare has made generic drugs more popular among patients. Additionally, the government has been investing in the healthcare sector, which has led to an increase in the availability of healthcare services and facilities.

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.