Anti-Diabetes Drugs - Nordics

Nordics

The Anti-Diabetes Drugs market in the Nordics is anticipated to achieve a revenue of US$0.81bn in 2024.
It is expected to witness an annual growth rate (CAGR 2024-2029) of 6.89%, leading to a market volume of US$1.13bn by 2029.
When comparing globally, United States is projected to generate the highest revenue of US$37,840.00m in 2024.
In the Nordics, there is a growing trend towards personalized and holistic approaches to managing diabetes, with a focus on lifestyle changes and natural remedies alongside medication.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Nordics has been steadily growing over the years as diabetes continues to be a major health concern in the region.

Customer preferences: Patients in the Nordics region prefer non-invasive and convenient treatment options, leading to a rise in the demand for oral anti-diabetes drugs. Additionally, there is a growing preference for combination therapies that provide a more comprehensive approach to managing diabetes.

Trends in the market: The Nordics region has seen a shift towards newer classes of anti-diabetes drugs such as SGLT2 inhibitors and GLP-1 receptor agonists. These drugs have shown promising results in reducing cardiovascular risk and improving overall health outcomes in patients with diabetes. There is also an increasing trend towards personalized medicine, with healthcare providers tailoring treatment plans based on individual patient needs.

Local special circumstances: The Nordics region has a well-established healthcare system that provides universal access to healthcare services. This has led to a higher diagnosis rate for diabetes and a greater emphasis on disease management. Additionally, there is a growing focus on preventative care and lifestyle interventions to manage diabetes, leading to a greater demand for non-pharmacological interventions such as dietary and exercise programs.

Underlying macroeconomic factors: The Nordics region has a high GDP per capita, which has allowed for greater investment in healthcare infrastructure and research. Additionally, there is a growing aging population in the region, which has led to a higher prevalence of chronic diseases such as diabetes. The region also has a high rate of obesity, which is a major risk factor for developing diabetes. These underlying factors have contributed to the growth of the anti-diabetes drugs market in the Nordics region.

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.