Anti-Diabetes Drugs - Malaysia

Malaysia

The revenue for the Anti-Diabetes Drugs market in Malaysia is projected to reach MYR US$167.40m in 2024.
It is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 7.84%, leading to a market volume of MYR US$244.10m by 2029.
In comparison to other countries, United States is expected to generate the highest revenue, with an estimated amount of US$37,840.00m in 2024.
The demand for anti-diabetes drugs in Malaysia is on the rise due to the increasing prevalence of diabetes in the country.

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

Market

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Analyst Opinion

The demand for Anti-Diabetes Drugs in Malaysia has been on the rise in recent years.

Customer preferences: The primary customer preference in Malaysia is for oral anti-diabetic drugs. This is due to the ease of administration and convenience of taking pills. However, there is also a growing demand for insulin injections, especially among patients with advanced stages of diabetes.

Trends in the market: One of the major trends in the Anti-Diabetes Drugs market in Malaysia is the increasing prevalence of diabetes. According to the International Diabetes Federation, Malaysia has one of the highest rates of diabetes in the world. This has resulted in a growing demand for anti-diabetic drugs in the country. Another trend is the shift towards newer and more advanced anti-diabetic drugs, such as DPP-4 inhibitors, GLP-1 agonists, and SGLT2 inhibitors. These drugs offer better efficacy and safety profiles compared to older drugs like sulfonylureas and metformin.

Local special circumstances: One of the unique challenges in the Malaysian market is the high cost of anti-diabetic drugs. This is due to the country's strict drug pricing policies, which limit the prices that pharmaceutical companies can charge for their products. As a result, many patients have to rely on government-subsidized healthcare services to access affordable anti-diabetic drugs.

Underlying macroeconomic factors: The Malaysian economy has been growing steadily in recent years, which has led to an increase in disposable income among the population. This has resulted in a higher demand for healthcare services, including anti-diabetic drugs. Additionally, the government has been investing heavily in healthcare infrastructure and services, which has further boosted the demand for anti-diabetic drugs in the country. However, the high cost of these drugs remains a major challenge for many patients, especially those from low-income backgrounds.

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.