The Anti-Diabetes Drugs market in GCC has been experiencing steady growth over the past few years.
Customer preferences: Customers in GCC countries have shown a preference for oral anti-diabetes drugs over other forms of treatment. This is due to the ease of use and convenience that oral drugs provide. Additionally, customers are becoming increasingly health-conscious and are seeking out drugs with fewer side effects.
Trends in the market: One trend in the Anti-Diabetes Drugs market in GCC is the increasing use of combination therapies. This involves using multiple drugs to treat diabetes, which has been shown to be more effective than using a single drug. Another trend is the rising popularity of generic drugs, which are more affordable than brand-name drugs. This has led to increased competition in the market and has made anti-diabetes drugs more accessible to a wider range of customers.
Local special circumstances: The high prevalence of diabetes in GCC countries has led to a growing demand for anti-diabetes drugs. Additionally, the region has a high rate of obesity, which is a major risk factor for developing diabetes. This has led to increased awareness of the importance of managing diabetes and has contributed to the growth of the anti-diabetes drugs market.
Underlying macroeconomic factors: The GCC region has a growing population and a high level of economic development, which has contributed to the growth of the anti-diabetes drugs market. Additionally, the region has a strong healthcare infrastructure, which has made it easier for customers to access anti-diabetes drugs. However, the region also faces challenges such as a lack of healthcare funding and a shortage of healthcare professionals, which could impact the growth of the anti-diabetes drugs market in the future.
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.
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