Anti-Diabetes Drugs - Bangladesh

Bangladesh

The Anti-Diabetes Drugs market in Bangladesh is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is projected to reach US$216.60m in 2024.
Furthermore, it is anticipated that the market will display an annual growth rate (CAGR 2024-2028) of 6.80%, leading to a market volume of US$281.80m by 2028.
In terms of global comparison, it is worth noting that United States is set to generate the highest revenue in the Anti-Diabetes Drugs market.
The projected revenue for the United States in 2024 stands at an impressive US$35,630.00m.
This indicates the strong presence and potential of the market United States.
The demand for anti-diabetes drugs in Bangladesh is increasing rapidly due to the rising prevalence of diabetes in the country.

Key regions: India, Canada, Australia, France, Italy

Market

Region

Region comparison

Currency

Analyst Opinion

The demand for Anti-Diabetes Drugs in Bangladesh has been steadily increasing over the past few years.

Customer preferences: Customers in Bangladesh prefer oral hypoglycemic agents over injectable ones due to convenience and ease of use. Metformin remains the most commonly prescribed drug for diabetes in Bangladesh. However, there has been a recent increase in demand for newer classes of drugs such as SGLT2 inhibitors and DPP4 inhibitors.

Trends in the market: The Anti-Diabetes Drugs market in Bangladesh is expected to grow in the coming years due to the rising prevalence of diabetes in the country. The increasing urbanization and sedentary lifestyle of the population has led to a rise in obesity and diabetes. Furthermore, the government of Bangladesh has taken initiatives to increase awareness about diabetes and its management, which has led to an increase in demand for anti-diabetes drugs.

Local special circumstances: Bangladesh is a low-income country with a large population. The majority of the population cannot afford expensive medication, and thus, there is a high demand for affordable anti-diabetes drugs. The government of Bangladesh has implemented policies to provide free or subsidized healthcare to the population, which has increased access to anti-diabetes drugs.

Underlying macroeconomic factors: The GDP of Bangladesh has been steadily increasing over the past few years, which has led to an increase in disposable income of the population. This has led to an increase in demand for healthcare services, including anti-diabetes drugs. Furthermore, the government of Bangladesh has taken initiatives to improve the healthcare infrastructure in the country, which has led to an increase in the availability of anti-diabetes drugs.

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.