Anti-Diabetes Drugs - Guinea | Statista Market Forecast

The Anti-Diabetes Drugs market in Guinea is forecasted to achieve a notable revenue of US$6.08m in 2024.
This sector is expected to display a steady annual growth rate (CAGR 2024-2029) of 7.60%, leading to a market volume of US$8.77m by 2029.
When compared globally, United States will generate the highest revenue in this market, amounting to a substantial US$37.84bn in 2024.
In Guinea, there is a growing demand for innovative anti-diabetes drugs to combat 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 Guinea has been experiencing a steady growth in recent years.

Customer preferences: The demand for Anti-Diabetes Drugs in Guinea has been increasing due to the rise in the prevalence of diabetes among the population. Customers are looking for drugs that are effective and affordable. As a result, generic drugs have become popular among customers due to their lower cost compared to branded drugs.

Trends in the market: The Anti-Diabetes Drugs market in Guinea is expected to continue growing due to the increasing prevalence of diabetes in the country. The government has been implementing measures to raise awareness about diabetes and the importance of managing the disease. This has led to an increase in the number of people seeking medical attention for diabetes, which in turn has increased the demand for Anti-Diabetes Drugs.

Local special circumstances: Guinea is a low-income country, and the majority of the population lives in rural areas. This presents a challenge for the distribution of Anti-Diabetes Drugs as the infrastructure in these areas is poor. Additionally, there is a lack of qualified healthcare professionals in rural areas, which makes it difficult for patients to access the drugs they need.

Underlying macroeconomic factors: The economy of Guinea is heavily dependent on the mining sector, which has been affected by the global economic downturn. This has led to a decrease in government revenue, which has impacted the healthcare sector. The government has been working to increase funding for healthcare, but progress has been slow. The lack of funding has led to a shortage of drugs and medical supplies in the country, which has made it difficult for patients to access the drugs they need.

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.