Anti-Diabetes Drugs - Ireland | Statista Market Forecast

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$37.84bn 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.

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 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.

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.