Anti-Diabetes Drugs - Senegal | Statista Market Forecast

in Senegal, a country in West Africa, is expected to witness significant growth in the Anti-Diabetes Drugs market.
The projected revenue for this market in Senegal is estimated to reach US$8.63m in 2024.
Looking ahead, the market is anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 8.08%, resulting in a market volume of US$12.73m by 2029.
When compared globally, United States is expected to generate the highest revenue in the Anti-Diabetes Drugs market.
In 2024, United States is projected to generate a revenue of US$37.84bn.
Senegal's anti-diabetes drug market is experiencing a surge in demand due to the rising prevalence of diabetes in the country.

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 Senegal has been steadily growing in recent years.

Customer preferences: Senegal has a high prevalence of diabetes, with an estimated 3.5 million people living with the disease. As a result, there is a high demand for anti-diabetes drugs in the country. Patients in Senegal generally prefer oral medications, as they are more convenient and affordable compared to other forms of treatment.

Trends in the market: The market for anti-diabetes drugs in Senegal is primarily driven by the growing prevalence of diabetes in the country. In addition, the government has implemented several initiatives to increase access to healthcare, which has led to an increase in the number of patients seeking treatment for diabetes. As a result, there has been a significant increase in the sales of anti-diabetes drugs in the country.

Local special circumstances: One of the unique challenges faced by the anti-diabetes drugs market in Senegal is the lack of access to healthcare in rural areas. Patients living in these areas often have limited access to healthcare facilities and may not be able to afford the cost of treatment. This has led to a higher prevalence of diabetes in rural areas compared to urban areas.

Underlying macroeconomic factors: Senegal has experienced steady economic growth in recent years, which has led to an increase in disposable income and an expansion of the middle class. This has contributed to the growth of the anti-diabetes drugs market in the country, as more people are able to afford treatment for the disease. In addition, the government has implemented several policies aimed at improving healthcare access, which has also contributed to the growth of the market. However, the market is still relatively small compared to other countries in the region, due to the high cost of treatment and limited access to healthcare in certain areas.

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.