Anti-Diabetes Drugs - Israel

Israel

The Anti-Diabetes Drugs market in Israel is expected to witness a significant increase in revenue, reaching US$202.50m by the year 2024.
This projection indicates a promising future for the market.
Furthermore, it is anticipated that the market will continue to grow steadily, with an annual growth rate (CAGR 2024-2029) of 7.25%, resulting in a market volume of US$287.40m by the year 2029.
When compared globally, it is worth noting that United States will generate the highest revenue in the Anti-Diabetes Drugs market, with an estimated value of US$37,840.00m in the year 2024.
This highlights the dominance of the United States in this market.
Israel is at the forefront of research and development for innovative anti-diabetes drugs, driving advancements in treatment options.

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

Market

Region

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Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Israel has been experiencing steady growth in recent years.

Customer preferences: As in many countries, there has been an increase in the prevalence of diabetes in Israel, which has led to a growing demand for anti-diabetes drugs. Patients in Israel are generally looking for effective drugs that can help them manage their condition and improve their quality of life. Additionally, there is a growing interest in natural remedies and alternative therapies, as many patients are looking for ways to manage their diabetes without relying solely on medication.

Trends in the market: One trend that has been observed in the Israeli market is a shift towards newer, more innovative drugs. This is partly driven by the fact that many of the older drugs have gone off-patent, making them more affordable and accessible to patients. As a result, pharmaceutical companies are investing more in research and development to come up with new drugs that can offer better outcomes for patients.Another trend in the market is the growing use of combination therapies. Many patients in Israel are now being prescribed multiple drugs to manage their diabetes, as this can often lead to better outcomes than using a single drug alone. This trend is expected to continue as more combination therapies become available on the market.

Local special circumstances: One factor that has contributed to the growth of the Anti-Diabetes Drugs market in Israel is the country's strong healthcare system. Israel has a universal healthcare system that provides coverage to all citizens, which means that patients have access to a wide range of drugs and treatments. Additionally, the country has a well-developed pharmaceutical industry, which has helped to drive innovation and competition in the market.

Underlying macroeconomic factors: Israel has a strong and growing economy, which has helped to drive growth in the Anti-Diabetes Drugs market. The country has a highly educated population and a well-developed healthcare system, which means that patients are able to access the drugs and treatments they need to manage their condition. Additionally, the government has implemented policies to encourage innovation in the pharmaceutical industry, which has helped to drive the development of new drugs and therapies. Overall, the Anti-Diabetes Drugs market in Israel is expected to continue growing in the coming years, driven by a combination of demographic and economic factors.

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.