Anti-Diabetes Drugs - Southern Asia

Southern Asia

The Anti-Diabetes Drugs market in Southern Asia is expected to witness substantial growth in the coming years.
By 2024, the projected revenue for this market is estimated to reach US$3.36bn.
Furthermore, it is anticipated that the revenue will experience a compound annual growth rate (CAGR) of 7.88% from 2024 to 2029, resulting in a market volume of US$4.91bn by 2029.
In comparison to other countries worldwide, United States is forecasted to generate the highest revenue in this market, with an estimated revenue of US$37,840.00m in 2024.
In Southern Asia, the demand for innovative and affordable anti-diabetes drugs is on the rise as the region grapples with a growing diabetes epidemic.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Anti-Diabetes Drugs in Southern Asia has been increasing steadily in recent years.

Customer preferences: The primary reason for the growth in the Anti-Diabetes Drugs market in Southern Asia is the increasing prevalence of diabetes in the region. According to the International Diabetes Federation, the number of people with diabetes in the region is expected to increase by more than 50% by 2045. This has led to a growing demand for Anti-Diabetes Drugs as a means of managing the condition.

Trends in the market: India is the largest market for Anti-Diabetes Drugs in Southern Asia, accounting for more than half of the total market share. The market in India is expected to continue to grow due to the increasing prevalence of diabetes in the country. In addition, the Indian government has launched several initiatives to increase access to Anti-Diabetes Drugs, which is expected to further boost the market.Pakistan and Bangladesh are also significant markets for Anti-Diabetes Drugs in Southern Asia. The market in Pakistan is expected to grow due to the increasing prevalence of diabetes in the country, while the market in Bangladesh is expected to grow due to the increasing availability of Anti-Diabetes Drugs in the country.

Local special circumstances: One of the challenges in the Anti-Diabetes Drugs market in Southern Asia is the high cost of treatment. Many people in the region cannot afford the cost of Anti-Diabetes Drugs, which limits access to treatment. In addition, there is a lack of awareness about the condition and the importance of managing it, which further limits the market.

Underlying macroeconomic factors: The economic growth in Southern Asia has led to an increase in the prevalence of diabetes in the region. The growing middle class in the region has led to changes in lifestyle and diet, which has contributed to the increase in diabetes cases. In addition, the aging population in the region is also contributing to the increase in diabetes cases. The increasing prevalence of diabetes is expected to continue to drive the growth of the Anti-Diabetes Drugs market in Southern Asia in the coming years.

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.