Anti-Diabetes Drugs - Thailand | Statista Market Forecast

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$37.84bn in 2024.
Thailand is seeing a rising demand for innovative anti-diabetes drugs, driven by the increasing prevalence of diabetes in the country.

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 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.

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.