The Anti-Diabetes Drugs market in Sierra Leone is witnessing an upward trend in recent years.
Customer preferences: Sierra Leone has a high prevalence of diabetes, with an estimated 4.1% of the population living with the disease. The majority of these individuals are type 2 diabetics, which has led to an increase in demand for anti-diabetes drugs. Patients in Sierra Leone prefer oral medications over injectables due to the convenience and ease of administration.
Trends in the market: The Anti-Diabetes Drugs market in Sierra Leone has been growing steadily due to the increasing prevalence of diabetes. The market is dominated by big pharmaceutical companies that offer a wide range of anti-diabetes drugs. Metformin is the most commonly prescribed drug in Sierra Leone due to its effectiveness and affordability. However, newer drugs such as DPP-4 inhibitors and GLP-1 receptor agonists are gaining popularity due to their improved efficacy and safety profiles.
Local special circumstances: The healthcare system in Sierra Leone faces several challenges, including a shortage of healthcare professionals and inadequate infrastructure. This has led to a lack of awareness and education regarding diabetes management among patients. Additionally, the high cost of anti-diabetes drugs and limited access to healthcare services in rural areas are major barriers to treatment.
Underlying macroeconomic factors: Sierra Leone is a low-income country with a GDP per capita of less than $600. The country heavily relies on donor funding to support its healthcare system. The government has implemented several policies to improve access to healthcare services, including the provision of free healthcare to pregnant women, lactating mothers, and children under five years. However, the lack of funding and resources has limited the government's ability to address the growing burden of non-communicable diseases such as diabetes.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ 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.
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