Anti-Diabetes Drugs - Fiji | Statista Market Forecast

The Anti-Diabetes Drugs market in Fiji is anticipated to witness substantial growth in the coming years.
According to projections, the revenue in this market is expected to reach US$2.76m in 2024.
Furthermore, it is estimated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 7.24%, leading to a market volume of US$3.91m by 2029.
When compared globally, it is noteworthy that United States is expected to generate the highest revenue, amounting to US$37.84bn in 2024.
This reinforces United States' position as a major player in the Anti-Diabetes Drugs market.
Fiji's anti-diabetes drug market is witnessing a surge in demand due to the rising 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 Fiji has been evolving over the years due to various factors.

Customer preferences: Fijians tend to prefer traditional medicine over modern medicine. However, with the rise in diabetes cases, there has been an increase in the demand for Anti-Diabetes Drugs. Patients are now willing to try modern medicine to manage their condition, but they still prefer natural remedies.

Trends in the market: The Anti-Diabetes Drugs market in Fiji has been growing steadily due to the increase in diabetes cases. There has been a rise in the number of people diagnosed with diabetes, which has led to an increase in demand for Anti-Diabetes Drugs. The market has also seen a shift towards more affordable generic drugs.

Local special circumstances: Fiji has a high prevalence of diabetes, with more than 30% of the population affected by the disease. This has led to an increase in demand for Anti-Diabetes Drugs. However, the country faces challenges such as limited access to healthcare facilities, which makes it difficult for patients to access medication. Additionally, the country has a large rural population, which makes it harder for them to access medication.

Underlying macroeconomic factors: The Fijian government has been working to improve the healthcare system in the country. The government has been investing in healthcare infrastructure and has also introduced policies to make healthcare more affordable for the population. This has led to an increase in demand for Anti-Diabetes Drugs. Additionally, the country has been experiencing economic growth, which has led to an increase in disposable income. This has made it easier for patients to afford medication.In conclusion, the Anti-Diabetes Drugs market in Fiji has been growing due to the rise in diabetes cases. Patients are now willing to try modern medicine to manage their condition, but they still prefer natural remedies. The market has also seen a shift towards more affordable generic drugs. The Fijian government has been investing in healthcare infrastructure, which has led to an increase in demand for Anti-Diabetes Drugs. However, the country faces challenges such as limited access to healthcare facilities, which makes it difficult for patients to access medication.

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.