Anti-Diabetes Drugs - Pakistan

Pakistan

The Anti-Diabetes Drugs market in Pakistan is expected to witness a significant growth in revenue.
By 2024, the projected revenue is estimated to reach US$0.56bn.
Furthermore, the market is anticipated to exhibit a steady annual growth rate (CAGR 2024-2029) of 7.66%.
As a result, the market volume is projected to expand to US$0.81bn by 2029.
In terms of global comparison, United States is set to generate the highest revenue, amounting to US$37,840.00m in 2024.
Pakistan is experiencing a surge in demand for anti-diabetes drugs as the country grapples with a rising prevalence of diabetes.

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

Market

Region

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Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Pakistan is experiencing significant growth in recent years.

Customer preferences: The rising prevalence of diabetes in Pakistan has led to an increased demand for anti-diabetes drugs. Patients prefer drugs that are effective, affordable, and easily accessible. Generic drugs are more popular due to their lower costs, and patients tend to opt for drugs that have fewer side effects.

Trends in the market: The Anti-Diabetes Drugs market in Pakistan is witnessing a shift towards more innovative and advanced drugs. The introduction of new drugs with better efficacy and safety profiles has increased competition among drug manufacturers. The market is also witnessing a trend towards combination therapies, which offer better glycemic control and reduce the risk of side effects.

Local special circumstances: The healthcare system in Pakistan faces several challenges, including inadequate infrastructure, limited resources, and a shortage of healthcare professionals. The high cost of healthcare and limited insurance coverage make it difficult for patients to access quality healthcare services. The government has taken several initiatives to address these issues, including the launch of a national health insurance program.

Underlying macroeconomic factors: Pakistan's economy has been growing steadily in recent years, with a focus on developing the healthcare sector. The government has increased healthcare spending and introduced policies to promote local drug manufacturing. The pharmaceutical industry in Pakistan is expanding, with several local and multinational companies investing in the market. The growing middle class and increasing urbanization are also driving demand for healthcare services, including anti-diabetes drugs.

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.