The Anti-Diabetes Drugs market in Lebanon has been experiencing a steady growth in recent years.
Customer preferences: Lebanon has a high prevalence of diabetes, with approximately 15% of the population suffering from the disease. This has led to an increase in demand for anti-diabetes drugs in the country. Patients in Lebanon tend to prefer medications that are effective, affordable, and have minimal side effects.
Trends in the market: The market for anti-diabetes drugs in Lebanon is dominated by multinational pharmaceutical companies, with a few local players also present. There has been a shift towards the use of newer, more expensive drugs in recent years, particularly among patients with type 2 diabetes. This is due to the fact that these drugs are more effective in controlling blood sugar levels and have fewer side effects compared to older drugs. However, the high cost of these drugs remains a barrier for many patients.
Local special circumstances: One of the unique challenges facing the anti-diabetes drugs market in Lebanon is the country's economic crisis. The devaluation of the Lebanese pound and the shortage of foreign currency have made it difficult for patients to afford medications, particularly those that are imported. This has led to an increase in the use of generic drugs, which are more affordable, but may not be as effective as their branded counterparts.
Underlying macroeconomic factors: Lebanon's economic crisis has also had an impact on the pharmaceutical industry as a whole. The shortage of foreign currency has made it difficult for importers to bring in drugs, leading to shortages in the market. This has also led to an increase in the price of drugs, as importers are forced to pay higher prices to secure foreign currency. Additionally, the political instability in the country has also had an impact on the market, with some manufacturers hesitant to invest in Lebanon due to the uncertain political climate.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
