Anti-Diabetes Drugs - Europe

Europe

In Europe, the Anti-Diabetes Drugs market is forecasted to achieve a revenue of US$12.84bn by the year 2024.
This projection indicates an annual growth rate of 7.12% (CAGR 2024-2029), leading to a market volume of US$18.11bn by 2029.
When compared on a global scale, United States is expected to generate the highest revenue, amounting to US$37,840.00m in 2024.
Germany has seen a surge in the demand for innovative anti-diabetes drugs, driven by a growing aging population and a strong focus on research and development in the pharmaceutical sector.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Europe has been witnessing steady growth in recent years.

Customer preferences: Patients suffering from diabetes in Europe are increasingly opting for anti-diabetes drugs instead of traditional insulin therapy. This is due to the convenience and effectiveness of anti-diabetes drugs in controlling blood sugar levels. Additionally, the rising prevalence of diabetes in Europe has led to an increase in demand for anti-diabetes drugs.

Trends in the market: Germany is the largest market for anti-diabetes drugs in Europe. The country's aging population and high prevalence of diabetes have contributed to the growth of the market. The UK and France are also significant markets for anti-diabetes drugs in Europe. The UK market is driven by the country's national diabetes prevention program, while the French market is characterized by the increasing use of GLP-1 receptor agonists.

Local special circumstances: In Eastern Europe, the market for anti-diabetes drugs is still in its infancy. However, the region is witnessing increasing demand for these drugs due to rising prevalence of diabetes. In Western Europe, the market is more mature and highly competitive, with several established players dominating the market.

Underlying macroeconomic factors: The growth of the Anti-Diabetes Drugs market in Europe can be attributed to several macroeconomic factors. These include the rising prevalence of diabetes, increasing awareness about the benefits of anti-diabetes drugs, and the availability of advanced drugs that offer better efficacy and fewer side effects. Additionally, favorable government initiatives aimed at promoting diabetes prevention and management have also contributed to the growth of the market.

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.