Anti-Diabetes Drugs - Mozambique

Mozambique

The Anti-Diabetes Drugs market in Mozambique is anticipated to witness a significant increase in revenue, projected to reach US$17.62m in 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 9.32%, resulting in a market volume of US$27.51m by 2029.
When compared globally, United States is expected to generate the highest revenue in this market, with an estimated US$37,840.00m in 2024.
Mozambique's increasing urbanization and changing lifestyle patterns have led to a growing demand for anti-diabetes drugs in the country.

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

Market

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Currency

Analyst Opinion

The prevalence of diabetes in Mozambique is increasing at an alarming rate, leading to a surge in demand for anti-diabetes drugs.

Customer preferences: Mozambican customers are increasingly seeking affordable and accessible anti-diabetes drugs. They prefer drugs that are easy to use and have minimal side effects. The majority of customers in Mozambique prefer oral medications over insulin injections due to the convenience and ease of use.

Trends in the market: The Anti-Diabetes Drugs market in Mozambique is growing due to the rise in the number of people diagnosed with diabetes. The market is witnessing an increase in the demand for generic drugs due to their affordability compared to branded drugs. The market is also seeing a rise in the adoption of combination therapies, which are more effective in controlling blood sugar levels.

Local special circumstances: Mozambique has a high poverty rate, and many people cannot afford expensive anti-diabetes drugs. The government is taking steps to provide free or subsidized drugs to people with diabetes, but the demand still outstrips the supply. The lack of awareness about diabetes and its treatment options is also a significant challenge in Mozambique.

Underlying macroeconomic factors: Mozambique is one of the poorest countries in the world, with a low GDP per capita. The country's healthcare infrastructure is underdeveloped, and there is a shortage of healthcare professionals. The government is taking steps to improve the healthcare system, but progress is slow. The country's economy is heavily reliant on agriculture, and the sector employs the majority of the population. The government is focusing on developing other sectors of the economy to reduce the dependence on agriculture.

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.