Anti-Diabetes Drugs - Portugal | Statista Market Forecast

Portugal is expected to see a significant increase in revenue within the Anti-Diabetes Drugs market.
By 2024, it is projected to reach a revenue of US$237.90m.
This positive trend is expected to continue with an annual growth rate of 7.51% from 2024 to 2029, resulting in a market volume of US$341.60m by the latter year.
When compared globally, it is important to note that United States will generate the highest revenue within this market.
In 2024 alone, United States is projected to generate a substantial revenue of US$37.84bn.
Portugal's anti-diabetes drugs market is witnessing a surge in demand due to the country's aging population and increasing 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 Portugal has been experiencing steady growth over the past few years.

Customer preferences: Portuguese customers have been showing an increasing preference for anti-diabetes drugs that have fewer side effects and are more effective in controlling blood sugar levels. They are also more inclined towards drugs that are easy to administer and have a longer-lasting effect.

Trends in the market: One of the major trends in the Anti-Diabetes Drugs market in Portugal is the increasing adoption of combination therapies. This involves using two or more drugs to achieve better blood sugar control. Another trend is the rising popularity of GLP-1 receptor agonists, which are injectable drugs that help to stimulate insulin production. These drugs are becoming more popular due to their effectiveness in reducing weight and cardiovascular risk factors.

Local special circumstances: Portugal has one of the highest rates of diabetes in Europe, with over one million people suffering from the disease. This has led to increased government spending on healthcare, which has created a favorable environment for the Anti-Diabetes Drugs market. Additionally, the country has a well-established healthcare system that provides easy access to medication for patients.

Underlying macroeconomic factors: The Portuguese economy has been steadily recovering from the global financial crisis of 2008. This has led to increased consumer spending, which has positively impacted the Anti-Diabetes Drugs market. Additionally, the country has a growing elderly population, which is more susceptible to diabetes. This demographic shift has created a larger customer base for anti-diabetes drugs. Finally, the government's focus on healthcare has led to increased investment in research and development, which has resulted in the introduction of new and more effective drugs in the 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.