Anti-Diabetes Drugs - Papua New Guinea

The revenue in Papua New Guinea's Anti-Diabetes Drugs market is estimated to reach US$24.08m in 2024.
It is anticipated that the revenue will exhibit an annual growth rate (CAGR 2024-2029) of 6.48%, leading to a market volume of US$32.96m by 2029.
When compared globally, United States is set to generate the highest revenue, with US$37.84bn in 2024.
Papua New Guinea'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 Papua New Guinea is experiencing growth due to several factors.

Customer preferences: Papua New Guinea has seen a rise in the number of people with diabetes, which has led to an increased demand for anti-diabetes drugs. Patients in Papua New Guinea prefer oral medications due to their ease of use and affordability.

Trends in the market: There has been a shift towards generic drugs in the anti-diabetes drugs market in Papua New Guinea. This is due to the lower cost of generic drugs compared to branded drugs. Additionally, there has been an increase in the availability of these drugs in local pharmacies, making them more accessible to patients.

Local special circumstances: Papua New Guinea faces several challenges in the healthcare sector, including a lack of healthcare infrastructure and a shortage of healthcare professionals. This has led to a reliance on community health workers to provide healthcare services in rural areas. The lack of healthcare infrastructure also means that patients may have to travel long distances to access healthcare services.

Underlying macroeconomic factors: Papua New Guinea has a relatively low GDP per capita, which means that patients may not have the financial means to afford expensive medications. This has led to a preference for generic drugs, which are more affordable. Additionally, the country's healthcare sector is underfunded, which has led to a shortage of healthcare professionals and a lack of healthcare infrastructure. This has made it difficult for patients to access healthcare services, including anti-diabetes drugs.

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.