Anti-Diabetes Drugs - Dominican Republic

The Dominican Republic is expected to witness significant growth in the Anti-Diabetes Drugs market.
By the year 2024, the projected revenue for this market is estimated to reach US$43.70m.
Furthermore, it is anticipated that the market will exhibit an annual growth rate (CAGR 2024-2029) of 8.19%.
As a result, the market volume is projected to reach US$64.77m by 2029.
When compared to other countries globally, it is worth noting that United States is expected to generate the highest revenue in this market.
In 2024 alone, the revenue United States is projected to reach a substantial amount of US$37.84bn.
This exemplifies the dominant position of the United States in the global Anti-Diabetes Drugs market.
The Dominican Republic has seen a rising demand for anti-diabetes drugs due to the increasing 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 Anti-Diabetes Drugs market in Dominican Republic has been experiencing a steady growth in recent years.

Customer preferences: The increasing prevalence of diabetes in the country has led to a rise in demand for anti-diabetes drugs. Patients are becoming more aware of the need to manage their condition and are seeking effective treatments to control their blood sugar levels. Additionally, the aging population in the country has also contributed to the growth of the market as older individuals are more susceptible to developing diabetes.

Trends in the market: The market is dominated by big pharmaceutical companies that offer a wide range of anti-diabetes drugs. However, there is also a growing trend towards the use of alternative medicines and natural remedies for diabetes management. This has led to the emergence of smaller players in the market who are catering to this niche segment. Additionally, there has been a shift towards personalized medicine, where drugs are tailored to individual patients based on their genetic makeup and other factors.

Local special circumstances: The Dominican Republic has a relatively high prevalence of diabetes, with an estimated 10% of the population affected by the disease. This has led to a significant burden on the healthcare system and has resulted in increased spending on diabetes management. Additionally, the country has a large uninsured population, which has led to a rise in the demand for low-cost anti-diabetes drugs.

Underlying macroeconomic factors: The Dominican Republic has experienced steady economic growth in recent years, which has led to an increase in disposable income and a rise in healthcare spending. Additionally, the government has implemented policies aimed at improving access to healthcare services, which has led to an increase in the number of individuals seeking treatment for diabetes. However, the country still faces challenges such as a lack of healthcare infrastructure and a shortage of healthcare professionals, which could limit the growth of the market in the long term.

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.