Anti-Diabetes Drugs - Taiwan | Statista Market Forecast

In Taiwan, the Anti-Diabetes Drugs market is predicted to witness a significant increase in revenue, with projections indicating a figure of US$268.90m in 2024.
This growth is expected to continue steadily, with an annual growth rate (CAGR 2024-2029) of 7.12%, leading to a market volume of US$379.20m by 2029.
When compared to other countries worldwide, United States is anticipated to generate the highest revenue in this market, with an estimated figure of US$37.84bn in 2024.
Taiwan's growing aging population and increasing prevalence of diabetes drive the demand for innovative anti-diabetes drugs in the market.

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 Taiwan has been experiencing steady growth in recent years.

Customer preferences: Taiwan has a high prevalence of diabetes, which has led to a growing demand for anti-diabetes drugs. Patients in Taiwan typically prefer oral medications over insulin injections, which has driven the growth of the oral anti-diabetes drugs market.

Trends in the market: The anti-diabetes drugs market in Taiwan has been dominated by big pharma companies, but there has been an increase in the number of local companies entering the market. This has led to increased competition and lower prices for consumers. Additionally, there has been a shift towards more personalized medicine, with the development of new drugs that target specific genetic markers.

Local special circumstances: Taiwan has a national health insurance system that covers the majority of the population, which has made anti-diabetes drugs more accessible and affordable. Additionally, there has been a growing awareness of the importance of preventive healthcare, which has led to an increase in the number of people seeking treatment for diabetes.

Underlying macroeconomic factors: Taiwan has a rapidly aging population, which has led to an increase in the number of people with chronic diseases such as diabetes. Additionally, the country has a high prevalence of obesity, which is a major risk factor for diabetes. The government has taken steps to address these issues, such as implementing a sugar tax and promoting healthy eating and exercise habits. These factors are expected to continue driving growth in the anti-diabetes drugs market in Taiwan.

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.