Anti-Diabetes Drugs - Ivory Coast

Ivory Coast

The Anti-Diabetes Drugs market in Ivory Coast is anticipated to witness a significant revenue surge, with projections indicating a substantial increase to reach US$18.91m in 2024.
This growth is expected to continue, exhibiting a robust compound annual growth rate (CAGR 2024-2029) of 6.89%, resulting in a market volume of US$26.39m by 2029.
In terms of global comparison, it is noteworthy that United States will contribute the highest revenue, with an estimated value of US$37,840.00m in 2024.
Ivory Coast is experiencing a surge in demand for anti-diabetes drugs due to the rising prevalence of diabetes in the country.

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

Market

Region

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Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Ivory Coast is experiencing significant growth due to various factors.

Customer preferences: Ivory Coast has a high prevalence of diabetes, and this has resulted in an increased demand for anti-diabetes drugs. Patients in the region prefer to use oral anti-diabetic drugs, which are more affordable and convenient compared to insulin injections. Additionally, there is a growing preference for combination therapy, where patients take multiple medications to manage their diabetes.

Trends in the market: The Anti-Diabetes Drugs market in Ivory Coast is witnessing a shift towards generic drugs due to their affordability. The government has implemented policies to promote the use of generic drugs, resulting in an increase in their availability and usage. Furthermore, there is a growing trend towards self-monitoring of blood glucose levels, leading to an increase in the demand for glucose monitoring devices.

Local special circumstances: One of the unique circumstances in Ivory Coast is the lack of access to healthcare facilities, particularly in rural areas. As a result, patients often rely on traditional medicine to manage their diabetes. This has led to a growing demand for herbal remedies and traditional medicines that are believed to help manage diabetes.

Underlying macroeconomic factors: The Ivorian economy has been growing steadily over the past few years, leading to an increase in disposable income. This has resulted in an increase in healthcare spending, including spending on anti-diabetes drugs. Additionally, the government has implemented policies to improve access to healthcare, which has further boosted the demand for anti-diabetes drugs.

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.