Anti-Diabetes Drugs - New Zealand

In New Zealand, the projected revenue in the Anti-Diabetes Drugs market for 2024 is estimated to reach US$87.05m.
It is expected that the revenue will continue to grow at an annual growth rate (CAGR 2024-2029) of 7.32%, resulting in a market volume of US$123.90m by 2029.
When compared to other countries worldwide, United States is anticipated to generate the highest revenue in the Anti-Diabetes Drugs market, projected to reach US$37.84bn in 2024.
New Zealand's anti-diabetes drug market is witnessing a surge in demand due to the country's rising prevalence of diabetes.

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 New Zealand has been experiencing steady growth in recent years.

Customer preferences: New Zealand has a high prevalence of diabetes, with approximately 200,000 people diagnosed with the disease. As a result, there is a strong demand for anti-diabetes drugs in the country. Patients prefer drugs that are effective in controlling blood sugar levels, have minimal side effects, and are affordable.

Trends in the market: The market for anti-diabetes drugs in New Zealand is dominated by big pharmaceutical companies. However, there has been a recent trend towards the use of generic drugs. This is due to the fact that generic drugs are more affordable and have the same efficacy as their branded counterparts. In addition, the government has been encouraging the use of generic drugs to reduce healthcare costs.Another trend in the market is the increasing use of combination therapies. Combination therapies are drugs that combine two or more medications into one pill. This approach has been shown to be more effective in controlling blood sugar levels than using a single drug. Patients prefer combination therapies as they are more convenient and easier to manage.

Local special circumstances: New Zealand has a unique healthcare system, with a mix of public and private healthcare providers. The government provides subsidies for certain medications, including anti-diabetes drugs, which makes them more affordable for patients. However, there are still some patients who cannot afford these medications and rely on charitable organizations for assistance.

Underlying macroeconomic factors: The New Zealand economy has been growing steadily in recent years, which has led to an increase in healthcare spending. This has allowed the government to provide subsidies for medications, including anti-diabetes drugs. In addition, the aging population in New Zealand has led to an increase in the prevalence of chronic diseases such as diabetes, which has contributed to the growth of the anti-diabetes drugs market.

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.