Anti-Diabetes Drugs - Haiti | Statista Market Forecast

The Anti-Diabetes Drugs market in Haiti is forecasted to witness a significant increase in revenue, with projections indicating a rise to US$15.42m in 2024.
This growth is expected to continue, with an annual growth rate (CAGR 2024-2029) of 6.96%, ultimately leading to a market volume of US$21.59m by 2029.
When compared globally, it is worth noting that United States will dominate this market, generating the highest revenue of US$37.84bn in 2024.
With an increasing prevalence of diabetes in Haiti, the demand for anti-diabetes drugs has surged in recent years.

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 demand for Anti-Diabetes Drugs in Haiti has been steadily increasing over the past few years.

Customer preferences: Haiti has a high prevalence of diabetes with a significant number of people suffering from the disease. As a result, there has been a growing demand for Anti-Diabetes Drugs in the country. Most customers in Haiti prefer affordable drugs that are effective in managing their condition. They are also increasingly turning to natural remedies and traditional medicine to complement their treatment.

Trends in the market: The Anti-Diabetes Drugs market in Haiti is dominated by multinational pharmaceutical companies. However, there has been a growing trend towards the use of generic drugs as they are more affordable and accessible. The market is also witnessing an increase in the availability of natural remedies and traditional medicine. This trend is driven by the high cost of prescription drugs and the belief that natural remedies are safer and more effective.

Local special circumstances: Haiti is a low-income country with a weak healthcare system. The country faces several challenges in providing adequate healthcare to its citizens, including a shortage of medical personnel and limited access to essential medicines. The government has been working to address these challenges by investing in healthcare infrastructure and improving access to essential medicines. However, progress has been slow, and the healthcare system remains under-resourced.

Underlying macroeconomic factors: Haiti is one of the poorest countries in the world, and the economy is heavily dependent on agriculture. The country has been grappling with political instability, natural disasters, and economic challenges, which have had a significant impact on the healthcare system. The government has limited resources to invest in healthcare, and most people cannot afford expensive prescription drugs. The high cost of Anti-Diabetes Drugs has made it difficult for many people to access the treatment they need, leading to a growing demand for affordable alternatives.

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.