Anti-Diabetes Drugs - Thailand

Thailand

The Anti-Diabetes Drugs market in Thailand is anticipated to witness a substantial growth in revenue, with projections indicating a staggering amount of US$181.30m in 2024.
Furthermore, an annual growth rate (CAGR 2024-2029) of 7.45% is expected, contributing to a market volume of US$259.70m by 2029.
When compared globally, it is worth noting that United States will generate the highest revenue, amounting to an impressive US$37,840.00m in 2024.
Thailand is seeing a rising demand for innovative anti-diabetes drugs, driven by the increasing 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 Thailand has been experiencing significant growth in recent years.

Customer preferences: The increasing prevalence of diabetes in Thailand has led to a growing demand for anti-diabetes drugs. Patients in Thailand are increasingly looking for drugs that are effective, affordable, and have fewer side effects. As a result, there has been a shift towards newer and more innovative drugs that offer better glycemic control and have fewer adverse effects.

Trends in the market: One of the major trends in the Anti-Diabetes Drugs market in Thailand is the increasing adoption of GLP-1 receptor agonists. These drugs have been shown to be highly effective in controlling blood sugar levels and have fewer side effects compared to other anti-diabetes drugs. Another trend in the market is the growing popularity of combination therapies, which offer better glycemic control and minimize side effects.

Local special circumstances: Thailand has a large population of elderly people, who are at a higher risk of developing diabetes. This has led to a growing demand for anti-diabetes drugs in the country. Additionally, the Thai government has been actively promoting the use of generic drugs, which has made anti-diabetes drugs more affordable for patients.

Underlying macroeconomic factors: Thailand has a rapidly growing economy, which has led to an increase in disposable income and healthcare spending. This has enabled more patients to afford anti-diabetes drugs and has driven the growth of the market. Additionally, the Thai government has been investing heavily in healthcare infrastructure, which has led to an improvement in healthcare access and quality. This has further fueled the growth of the Anti-Diabetes Drugs market in Thailand.

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.