Anti-Diabetes Drugs - Guatemala | Statista Market Forecast

The Anti-Diabetes Drugs market in Guatemala is expected to witness significant growth in the coming years.
According to projections, the revenue is estimated to reach US$46.16m by the year 2024.
Furthermore, it is anticipated that the market will experience an annual growth rate of 7.69% (CAGR 2024-2029), leading to a market volume of US$66.84m by 2029.
In terms of global comparison, United States is expected to generate the highest revenue in the Anti-Diabetes Drugs market, with an estimated revenue of US$37.84bn in 2024.
Despite the rising prevalence of diabetes in Guatemala, the market for anti-diabetes drugs remains relatively underdeveloped.

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 Guatemala has been experiencing steady growth in recent years.

Customer preferences: Guatemalan customers tend to prefer oral anti-diabetes drugs over injectable ones. This is due to the ease of administration and convenience of oral drugs. Additionally, customers in Guatemala are increasingly interested in natural and alternative treatments for diabetes.

Trends in the market: The market for anti-diabetes drugs in Guatemala has been growing steadily due to the increasing prevalence of diabetes in the country. This growth is expected to continue in the coming years as the population ages and lifestyles become more sedentary. Additionally, the market is expected to see growth in the area of natural and alternative treatments for diabetes.

Local special circumstances: Guatemala has a high prevalence of diabetes, with an estimated 10% of the population affected by the disease. This is due in part to the country's high rates of obesity and sedentary lifestyles. Additionally, the country's healthcare system is underfunded and understaffed, which can make it difficult for patients to access the care and medication they need.

Underlying macroeconomic factors: Guatemala is a developing country with a growing economy, which has led to an increase in healthcare spending in recent years. However, the country's healthcare system still faces significant challenges, including a shortage of healthcare professionals and inadequate funding. These challenges can make it difficult for patients to access the care and medication they need, which may limit the growth of the anti-diabetes drugs market in the country.

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.