Anti-Diabetes Drugs - Serbia

Serbia

The Anti-Diabetes Drugs market in Serbia is estimated to witness a significant revenue growth, projected to reach US$36.00m by 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 7.54%, leading to a market volume of US$51.78m by 2029.
It is worth noting that, in comparison to other countries worldwide, United States is anticipated to generate the highest revenue in this market, with a staggering US$37,840.00m in 2024.
Serbia's anti-diabetes drug market is witnessing a surge in demand due to the increasing prevalence of diabetes in the country.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Serbia is experiencing a steady growth in recent years.

Customer preferences: Serbian customers have shown a preference for oral medications over insulin injections due to convenience and ease of use. Additionally, there is a growing demand for combination drugs that target multiple mechanisms of action to treat diabetes.

Trends in the market: The Anti-Diabetes Drugs market in Serbia is witnessing a shift towards newer and more innovative drugs, such as GLP-1 receptor agonists and SGLT2 inhibitors. These drugs have shown promising results in clinical trials and offer a more targeted approach to treating diabetes. There is also a trend towards personalized medicine, with doctors and patients opting for drugs that are tailored to individual needs and medical histories.

Local special circumstances: Serbia has a high prevalence of diabetes, with over 10% of the population estimated to be affected by the disease. This has led to increased awareness and investment in diabetes research and treatment. Additionally, the Serbian government has implemented policies to improve access to healthcare and reduce the cost of medications, which has contributed to the growth of the Anti-Diabetes Drugs market.

Underlying macroeconomic factors: Serbia's economy has been steadily growing in recent years, which has led to an increase in disposable income and healthcare spending. This, coupled with an ageing population and the high prevalence of diabetes, has created a favorable market for Anti-Diabetes Drugs. However, the market is also facing challenges such as the high cost of newer drugs and the lack of reimbursement policies for some medications.

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.