Anti-Diabetes Drugs - India

India

in India, a country with a growing population and increasing healthcare needs, is also a significant player in the Anti-Diabetes Drugs market.
In 2024, the projected revenue for this market in India is estimated to be INR US$2.48bn.
Looking ahead, the market is expected to experience a steady annual growth rate (CAGR 2024-2029) of 7.98%, leading to a market volume of INR US$3.64bn by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in the Anti-Diabetes Drugs market, reaching a staggering amount of US$37,840.00m in 2024.
This highlights the dominant position of the United States in the global market.
India is experiencing a surge in demand for anti-diabetes drugs due to an increase in sedentary lifestyles and unhealthy diets.

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

Market

Region

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Currency

Analyst Opinion

The Anti-Diabetes Drugs market in India has been experiencing significant growth in recent years.

Customer preferences: With the rise of diabetes cases in India, there is a growing demand for effective and affordable anti-diabetes drugs. Consumers are looking for drugs that can help them manage their diabetes without causing severe side effects. Additionally, consumers are increasingly looking for drugs that are easy to administer and have longer-lasting effects.

Trends in the market: One significant trend in the Indian Anti-Diabetes Drugs market is the increasing use of generic drugs. Generic drugs are cheaper than branded drugs, making them more affordable for the average Indian consumer. This trend has been driven by the Indian government's efforts to promote the use of generic drugs and make healthcare more affordable for all citizens.Another trend in the market is the growing popularity of combination therapies. Combination therapies involve the use of two or more drugs to manage diabetes. These therapies are becoming more popular because they are more effective than single-drug therapies. Additionally, they are more convenient for patients as they only need to take one pill instead of multiple pills.

Local special circumstances: One significant local circumstance that is driving the growth of the Anti-Diabetes Drugs market in India is the high prevalence of diabetes in the country. India has one of the highest diabetes rates in the world, with more than 77 million people suffering from the disease. This has created a significant demand for anti-diabetes drugs in the country.Another local circumstance that is driving the growth of the market is the increasing availability of healthcare services in rural areas. In the past, many people in rural areas did not have access to healthcare services, making it difficult for them to manage their diabetes. However, the Indian government has been working to improve healthcare services in rural areas, making it easier for people to access the drugs they need to manage their diabetes.

Underlying macroeconomic factors: One underlying macroeconomic factor that is driving the growth of the Anti-Diabetes Drugs market in India is the country's growing middle class. As more people move into the middle class, they are becoming more health-conscious and are willing to spend more money on healthcare services. This has created a significant demand for anti-diabetes drugs in the country.Another underlying macroeconomic factor that is driving the growth of the market is the increasing investment in the Indian pharmaceutical industry. Many pharmaceutical companies are investing in research and development to create new and more effective anti-diabetes drugs. This has led to the development of new drugs that are more effective and have fewer side effects, driving the growth of the market.

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.