The Anti-Diabetes Drugs market in Myanmar has been experiencing growth in recent years due to several factors.
Customer preferences: Myanmar has a high prevalence rate of diabetes, with an estimated 10% of the population affected by the disease. This has led to an increase in demand for anti-diabetes drugs in the country. Additionally, there is a growing awareness of the importance of managing diabetes through medication and lifestyle changes, which has further driven the demand for anti-diabetes drugs.
Trends in the market: One of the major trends in the anti-diabetes drugs market in Myanmar is the increasing availability of generic drugs. As the government has been promoting the use of generic drugs to reduce healthcare costs, many pharmaceutical companies have started producing generic versions of anti-diabetes drugs. This has led to increased competition in the market, resulting in lower prices for consumers.Another trend in the market is the shift towards newer and more advanced drugs. While older drugs such as metformin and sulfonylureas continue to be widely used, there has been a growing demand for newer drugs such as DPP-4 inhibitors and GLP-1 receptor agonists. These drugs are more expensive than older drugs but are seen as more effective in managing diabetes.
Local special circumstances: Myanmar is a developing country with a relatively low GDP per capita. As a result, many people cannot afford expensive medications and rely on cheaper alternatives. This has led to a thriving market for counterfeit drugs, which are often sold at a fraction of the price of genuine drugs. While the government has been cracking down on counterfeit drugs, the problem persists and poses a risk to public health.
Underlying macroeconomic factors: Myanmar's economy has been growing steadily in recent years, with a focus on developing the healthcare sector. The government has been investing in healthcare infrastructure and promoting universal healthcare coverage. This has led to an increase in demand for healthcare services, including anti-diabetes drugs. However, the healthcare sector in Myanmar still faces challenges such as a shortage of healthcare professionals and inadequate healthcare financing. These factors may limit the growth of the anti-diabetes drugs market in the country in the long term.
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.
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