Anti-Diabetes Drugs - Kenya

Kenya

The Anti-Diabetes Drugs market in Kenya is expected to experience a significant rise in revenue, with projections indicating that it will reach Ksh US$45.55m by 2024.
Furthermore, there is an anticipated annual growth rate of 7.19% (CAGR 2024-2029), which would lead to a market volume of Ksh US$64.46m by 2029.
In comparison to other countries worldwide, United States is expected to generate the highest revenue, amounting to approximately US$37,840.00m in 2024.
Kenya'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

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Analyst Opinion

The demand for anti-diabetes drugs in Kenya has been increasing over the years due to the rising prevalence of diabetes in the country.

Customer preferences: Patients suffering from diabetes in Kenya are increasingly seeking medical attention and are opting for pharmaceutical solutions to manage their condition. The majority of the population prefers oral medication over injectables as it is more convenient and less painful. Additionally, generic drugs are also becoming popular due to their affordability.

Trends in the market: The anti-diabetes drugs market in Kenya is witnessing a shift towards more innovative and advanced drugs. The market is dominated by big pharmaceutical companies, but local drug manufacturers are also gaining popularity due to their affordable pricing. The demand for combination drugs is also increasing as they offer better efficacy and convenience to patients.

Local special circumstances: Kenya has a high prevalence of diabetes, with an estimated 2.2 million people living with the condition. The lack of awareness and education about the disease has resulted in a high number of undiagnosed cases. Additionally, the majority of the population in Kenya lives in rural areas with limited access to healthcare facilities, making it difficult for them to manage their condition.

Underlying macroeconomic factors: The Kenyan government has been investing in healthcare infrastructure, which has resulted in better access to healthcare facilities for the population. The government has also implemented policies to promote local manufacturing of drugs, which has led to the emergence of local drug manufacturers. The rising disposable income of the middle class in Kenya has also contributed to the growth of the anti-diabetes drugs market as more people can afford to pay for medication.

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.