Anti-Diabetes Drugs - CIS

The Anti-Diabetes Drugs market in the CIS region is anticipated to witness substantial growth over the forecast period.
According to projections, the market's revenue is expected to reach US$0.70bn by 2024.
Furthermore, it is estimated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 6.74%, culminating in a market volume of US$0.97bn by 2029.
When compared to other countries globally, United States is expected to generate the highest revenue in the Anti-Diabetes Drugs market, with an estimated value of US$37,840.00m in 2024.
In the CIS market, there is a growing demand for innovative anti-diabetes drugs as the region grapples with a rising prevalence of diabetes.

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

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Analyst Opinion

The Anti-Diabetes Drugs market in CIS has been experiencing significant growth in recent years due to a combination of customer preferences, local special circumstances, and underlying macroeconomic factors.

Customer preferences: Customers in CIS countries are increasingly seeking out more effective and convenient treatments for diabetes, which has led to a growing demand for anti-diabetes drugs. Patients are looking for drugs that not only help control blood sugar levels, but also have fewer side effects and are easier to administer. As a result, there has been a shift towards more innovative drugs that offer better outcomes for patients.

Trends in the market: One of the major trends in the Anti-Diabetes Drugs market in CIS is the increasing use of combination therapies. Many patients require multiple drugs to manage their condition, and combination therapies that combine different classes of drugs have been shown to be more effective than monotherapy. Additionally, there has been a growing interest in the use of biosimilars, which are drugs that are similar to existing biologic drugs but are less expensive. This has led to increased competition in the market and has helped to drive down prices.

Local special circumstances: One of the unique challenges in the CIS region is the high prevalence of diabetes. According to the International Diabetes Federation, Russia alone has more than 5 million people living with diabetes. This has led to a significant burden on the healthcare system and has put pressure on governments to find effective and affordable treatments for the disease. Additionally, there are cultural factors that have contributed to the high prevalence of diabetes in the region, such as a diet that is high in carbohydrates and a sedentary lifestyle.

Underlying macroeconomic factors: The Anti-Diabetes Drugs market in CIS is also influenced by underlying macroeconomic factors. One of the key drivers of growth in the market is the increasing availability of healthcare services in the region. As more people gain access to healthcare, there is a greater demand for drugs to manage chronic diseases like diabetes. Additionally, there has been a growing awareness of the importance of preventing and managing diabetes, which has led to increased investment in research and development of new drugs.In conclusion, the Anti-Diabetes Drugs market in CIS is experiencing significant growth due to a combination of factors, including customer preferences, local special circumstances, and underlying macroeconomic factors. As the prevalence of diabetes continues to rise in the region, there will be a growing demand for innovative and effective treatments to manage the disease.

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.