Anti-Diabetes Drugs - Ireland

Ireland

In Ireland, the revenue in the Anti-Diabetes Drugs market is expected to reach US$129.10m in 2024.
Looking ahead, a steady annual growth rate of 6.84% is projected for the period from 2024 to 2029, which would lead to a market volume of US$179.70m by 2029.
When compared globally, it is worth noting that United States is expected to generate the highest revenue in this market, with an estimated amount of US$37,840.00m in 2024.
Ireland has seen a surge in the demand for innovative anti-diabetes drugs, with pharmaceutical companies focusing on developing personalized treatment options for patients.

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

Market

Region

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Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Ireland has seen significant growth in recent years.

Customer preferences: Customers in Ireland have shown a preference for newer and more innovative drugs, which are often more expensive than traditional treatments. This is due to increasing awareness about the benefits of early intervention and the importance of managing diabetes effectively.

Trends in the market: The market for Anti-Diabetes Drugs in Ireland has been growing steadily in recent years, driven by an increase in the prevalence of diabetes in the country. This trend is expected to continue in the coming years, as the population continues to age and lifestyles become more sedentary.

Local special circumstances: Ireland has a high prevalence of diabetes, with over 200,000 people currently living with the condition. This is due to a combination of factors, including a high incidence of obesity, a sedentary lifestyle, and an aging population. The government has recognized the growing problem of diabetes in the country and has launched a number of initiatives aimed at improving prevention, diagnosis, and treatment.

Underlying macroeconomic factors: The Irish economy has been growing steadily in recent years, which has led to an increase in disposable incomes and a greater willingness to spend on healthcare. This, combined with an aging population and a high incidence of diabetes, has created a favorable environment for the growth of the Anti-Diabetes Drugs market in Ireland. Additionally, the government has made a commitment to increasing healthcare spending, which is expected to further boost the market 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.