Anti-Diabetes Drugs - Finland

Finland

Finland is expected to witness significant growth in the Anti-Diabetes Drugs market.
According to projections, the revenue in this market is forecasted to reach US$123.30m in 2024.
Furthermore, it is anticipated that the market will exhibit an annual growth rate of 6.88% (CAGR 2024-2029), leading to a market volume of US$172.00m by 2029.
When compared globally, it is worth noting that 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.
The demand for anti-diabetes drugs in Finland is steadily increasing due to the country's high prevalence of diabetes.

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

Market

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Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Finland has seen steady growth in recent years.

Customer preferences: Customers in Finland have shown a preference for pharmaceuticals that are effective in treating diabetes, without causing any adverse side effects. This has led to an increased demand for anti-diabetes drugs that have been approved by the Finnish Medicines Agency, FIMEA.

Trends in the market: One trend that has been observed in the Finnish Anti-Diabetes Drugs market is the increasing use of oral medications, such as metformin, as a first-line treatment for Type 2 diabetes. This is due to the fact that oral medications are often more convenient and less invasive than injectable medications. Another trend is the growing popularity of combination therapies, where two or more drugs are used together to achieve better glycemic control.

Local special circumstances: Finland has a high prevalence of Type 1 diabetes, which has led to a strong focus on research and development in the field of diabetes treatment. Additionally, the Finnish healthcare system provides universal coverage for diabetes treatment, which has led to a high level of access to anti-diabetes drugs for patients.

Underlying macroeconomic factors: The Finnish economy has been growing steadily in recent years, which has led to an increase in healthcare spending. This has allowed for greater investment in research and development of new anti-diabetes drugs, as well as increased access to existing treatments. Additionally, an aging population in Finland has led to a higher incidence of diabetes, which has further increased demand for anti-diabetes drugs.

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.