Anti-Diabetes Drugs - Greece

Greece

The Anti-Diabetes Drugs market in Greece is projected to achieve a revenue of US$186.50m by 2024.
It is expected to display a Compound Annual Growth Rate (CAGR 2024-2029) of 6.51%, resulting in a market volume of US$255.70m by 2029.
In comparison to other countries worldwide, United States is anticipated to generate the highest revenue of US$37,840.00m in 2024.
In Greece, there is a growing demand for innovative anti-diabetes drugs that can effectively manage the increasing prevalence of diabetes in the country's population.

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

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Analyst Opinion

The Anti-Diabetes Drugs market in Greece has experienced a steady growth in recent years.

Customer preferences: The increasing prevalence of diabetes in Greece has led to a rising demand for anti-diabetes drugs, particularly for the elderly population. Patients are increasingly seeking more efficient and effective treatment options to manage their condition.

Trends in the market: One of the key trends in the Anti-Diabetes Drugs market in Greece is the shift towards more innovative and advanced drugs. The market has seen an increase in the use of newer drugs such as GLP-1 receptor agonists and SGLT-2 inhibitors, which have been shown to offer better glycemic control and reduce the risk of cardiovascular disease. Additionally, there has been a growing interest in combination therapies, which offer a more comprehensive approach to diabetes management.

Local special circumstances: The Greek healthcare system has faced significant challenges in recent years due to the economic crisis, which has resulted in budget cuts and reduced access to healthcare services. As a result, patients are increasingly relying on generic drugs, which are more affordable and accessible. However, the use of generic drugs has also led to concerns about quality and safety, particularly in the case of anti-diabetes drugs where precise dosing is critical.

Underlying macroeconomic factors: The Greek economy has been slowly recovering in recent years, with GDP growth and declining unemployment rates. However, the healthcare sector continues to face significant challenges due to budget constraints and an aging population. The government has implemented various reforms to address these challenges, including the introduction of a National Health System and initiatives to promote the use of generic drugs. These efforts are expected to support the growth of the Anti-Diabetes Drugs market in Greece in the coming years.

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.