Anti-Diabetes Drugs - Lebanon | Statista Market Forecast

Lebanon is projected to witness a significant growth in revenue within the Anti-Diabetes Drugs market, with an estimated value of US$25.98m in 2024.
This indicates a promising trend for the country's pharmaceutical industry.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 6.02%.
By 2029, the market volume is expected to reach an impressive US$34.80m, reflecting the increasing demand for Anti-Diabetes Drugs market in Lebanon.
When comparing Lebanon's revenue to the global market, it is important to note that United States is projected to generate the highest revenue.
In 2024, United States is estimated to generate a substantial revenue of US$37.84bn.
This highlights the significant market presence and dominance of the United States in the Anti-Diabetes Drugs market on a global scale.
Lebanon's market for anti-diabetes drugs is experiencing a surge in demand due to the increasing prevalence of diabetes among the population.

Definition:
The Anti-Diabetes Drugs market covers drugs to treat the metabolism disorder diabetes mellitus. It includes insulin and non-insulinotropic drugs such as glucagen-like peptide-1 (GLP-1) receptor agonists and dipeptidyl peptidase-4 (DPP-4) inhibitors. While patients with type 1 diabetes require lifelong insulin therapy, type 2 diabetes can also be treated with medication.

Additional information:
Market values represent the revenues generated by manufacture prices paid to primary vendors, either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), companies (B2B), and governments (B2G).

Company examples: Novo Nordisk, Eli Lilly, Sanofi, Merck & Co

Drugs to treat diabetes mellitus (oral intake and injections)
Insulin
Non-insulinotropic anti-diabetic drugs

Drugs to treat other metabolic disorders or other autoimmune diseases
Lipid-lowering agents
Drugs to treat hypertension
Diagnostics
Devices such as continuous glucose monitors

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

In 2021, diabetes mellitus caused an estimated 1.62 million deaths worldwide, making it the eighth leading cause of death. Furthermore, it is estimated that 537 million people are currently living with diabetes around the world, with this number projected to rise to some 783 million by the year 2045. Diabetes describes a group of metabolic diseases which cause high blood sugar levels. There are three types of diabetes: type 1 diabetes, type 2 diabetes, and gestational diabetes. However, the majority of diabetes cases are type 2, with an estimated 90 to 95 percent of diabetes cases in the United States type 2. Risk factors for type 2 diabetes include being overweight, being physically inactive, being 45 and older, and having prediabetes.