Anti-Diabetes Drugs - Norway | Statista Market Forecast

The Anti-Diabetes Drugs market in Norway is expected to witness a significant increase in revenue, projected to reach US$210.30m in 2024.
This growth is anticipated to continue with an annual growth rate (CAGR 2024-2029) of 6.31%, leading to a market volume of US$285.60m by 2029.
When comparing the global market, United States is expected to generate the highest revenue, with US$37.84bn in 2024.
In Norway, the market for anti-diabetes drugs is seeing a rising demand for innovative and personalized treatments.

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

Norway, a country known for its high standard of living, has seen a steady increase in the demand for anti-diabetes drugs.

Customer preferences: Norwegian customers are showing a preference for anti-diabetes drugs that have fewer side effects and are more effective in controlling blood sugar levels. They are also more willing to pay for drugs that are produced sustainably and have a low environmental impact. This trend is in line with the global movement towards healthier lifestyles and environmentally friendly products.

Trends in the market: The market for anti-diabetes drugs in Norway has seen a shift towards newer and more innovative drugs that are better at controlling blood sugar levels and have fewer side effects. This trend is driven by the increasing prevalence of diabetes in Norway, which has led to a greater demand for more effective treatments. The market for anti-diabetes drugs in Norway is expected to continue to grow as the population ages and the prevalence of diabetes increases.

Local special circumstances: Norway has a unique healthcare system that is publicly funded and provides universal coverage to all citizens. This system has led to a high level of demand for anti-diabetes drugs, as patients do not have to pay out of pocket for their medications. Additionally, Norway has a high level of awareness about the importance of a healthy lifestyle, which has led to a greater demand for drugs that are effective at controlling blood sugar levels.

Underlying macroeconomic factors: Norway has a strong economy with a high level of disposable income, which has led to a greater demand for healthcare products and services. Additionally, the Norwegian government has implemented policies that encourage the development of innovative drugs and technologies, which has led to a greater supply of anti-diabetes drugs in the market. Finally, Norway has a high level of environmental awareness, which has led to a greater demand for drugs that are produced sustainably and have a low environmental impact.

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.