Anti-Diabetes Drugs - Kazakhstan

Kazakhstan

The Anti-Diabetes Drugs market in Kazakhstan is estimated to reach a revenue of US$42.22m by 2024.
It is projected to experience a steady annual growth rate of 7.62% (CAGR 2024-2029), leading to a market volume of US$60.94m by 2029.
When compared to other countries worldwide, United States is expected to generate the highest revenue, with US$37,840.00m in 2024.
Kazakhstan's anti-diabetes drug market is witnessing a surge in demand due to the rising prevalence of diabetes in the country.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Kazakhstan has been steadily growing in recent years.

Customer preferences: Kazakhstan has a high prevalence of diabetes, with a significant portion of the population suffering from the disease. As a result, there is a high demand for anti-diabetes drugs in the country. Patients in Kazakhstan tend to prefer oral medications over injections, which has led to an increase in the production and availability of oral anti-diabetes drugs in the market.

Trends in the market: The market for anti-diabetes drugs in Kazakhstan has been growing due to the increasing prevalence of diabetes in the country. The market is dominated by multinational pharmaceutical companies, with local companies playing a minor role. In recent years, there has been a shift towards the use of generic drugs, which has led to increased competition and lower prices for consumers.

Local special circumstances: Kazakhstan has a state-sponsored healthcare system, which provides free healthcare to its citizens. However, the system is often underfunded and lacks the necessary resources to provide adequate care to all patients. As a result, many patients opt to purchase medications from private pharmacies, which has led to a thriving private healthcare market in the country.

Underlying macroeconomic factors: Kazakhstan has a rapidly growing economy, which has led to an increase in disposable income among its citizens. This has led to an increase in demand for healthcare services, including anti-diabetes drugs. Additionally, the government has implemented policies to improve the healthcare system in the country, which has led to an increase in the availability of healthcare services and medications. However, the country still faces challenges such as an aging population and a high burden of non-communicable diseases, which will continue to drive demand for anti-diabetes drugs in the future.

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.