Anti-Diabetes Drugs - Zambia

Zambia

The Anti-Diabetes Drugs market in Zambia is expected to witness a significant increase in revenue, reaching US$16.56m by 2024.
Furthermore, it is projected to experience a steady annual growth rate (CAGR 2024-2029) of 8.18%, ultimately leading to a market volume of US$24.53m by 2029.
When compared on a global scale, United States is anticipated to generate the highest revenue in this market, with an estimated value of US$37,840.00m in 2024.
Zambia is witnessing a growing demand for innovative anti-diabetes drugs as the prevalence of diabetes continues to rise in the country.

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

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Analyst Opinion

The Anti-Diabetes Drugs market in Zambia has been showing steady growth in recent years.

Customer preferences: Zambian customers have been showing a preference for oral medications over injectables, which has led to an increase in the demand for oral anti-diabetes drugs. Additionally, there has been a growing demand for combination therapies that offer a more comprehensive approach to diabetes management.

Trends in the market: The Anti-Diabetes Drugs market in Zambia has been witnessing an influx of generic drugs, which has led to increased competition among drug manufacturers and a decrease in prices. This has made anti-diabetes drugs more accessible to a larger portion of the population. Furthermore, there has been a growing trend towards preventive healthcare, with an increasing number of people taking measures to prevent diabetes, such as adopting healthier lifestyles and regular check-ups.

Local special circumstances: Zambia has a high prevalence of diabetes, with an estimated 1 in 10 adults suffering from the disease. This has led to a greater awareness of the importance of diabetes management and a higher demand for anti-diabetes drugs. Additionally, the Zambian government has been taking steps to increase access to healthcare, including the provision of free anti-diabetes drugs for those in need.

Underlying macroeconomic factors: Zambia has been experiencing steady economic growth in recent years, with a growing middle class and an increasing disposable income. This has led to an increase in demand for healthcare services, including anti-diabetes drugs. However, the country still faces challenges in terms of healthcare infrastructure, and there is a need for further investment in this area to ensure that anti-diabetes drugs and other healthcare services are accessible to all.

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.