Anti-Diabetes Drugs - Sudan

Sudan

The Anti-Diabetes Drugs market in Sudan is anticipated to witness a significant increase in revenue, projected to reach US$102.10m in 2024.
This growth is expected to continue with an annual growth rate (CAGR 2024-2029) of 5.41%, leading to a market volume of US$132.90m by 2029.
When comparing globally, United States is expected to generate the highest revenue, estimated at US$37,840.00m in 2024.
Sudan is experiencing a growing demand for anti-diabetes drugs due to the rising prevalence of diabetes in the country.

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

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Analyst Opinion

The Anti-Diabetes Drugs market in Sudan is a growing market with increasing demand for medication to treat diabetes.

Customer preferences: In Sudan, there is a high prevalence of diabetes due to the population's sedentary lifestyle and unhealthy diet. As a result, there is a growing demand for anti-diabetes drugs in the country. Patients in Sudan prefer drugs that are affordable and effective in controlling their blood sugar levels.

Trends in the market: The Anti-Diabetes Drugs market in Sudan is growing due to the increasing prevalence of diabetes in the country. The market is dominated by multinational pharmaceutical companies that produce a wide range of anti-diabetes drugs. In recent years, there has been a shift towards the use of generic drugs, which are more affordable than branded drugs. This trend is expected to continue as more local pharmaceutical companies start producing generic anti-diabetes drugs.

Local special circumstances: Sudan is a low-income country, and many people cannot afford expensive branded drugs. As a result, there is a growing demand for generic drugs, which are more affordable. The government has also taken steps to make anti-diabetes drugs more accessible to the population by subsidizing the cost of medication.

Underlying macroeconomic factors: The Sudanese economy has been struggling in recent years due to political instability and economic sanctions. This has led to a shortage of foreign currency, making it difficult for pharmaceutical companies to import raw materials and finished products. However, the government has taken steps to support the pharmaceutical industry by providing tax incentives and other forms of support. Despite these challenges, the Anti-Diabetes Drugs market in Sudan is expected to continue growing due to the high prevalence of diabetes in the country.

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.