Anti-Diabetes Drugs - G7

The Anti-Diabetes Drugs market in the G7 countries is anticipated to witness a significant increase in revenue, with projections indicating a staggering amount of US$46.55bn by the year 2024.
This growth is expected to continue at an annual rate of 4.89% between 2024 and 2028, resulting in a market volume of US$56.34bn by 2028.
In terms of global comparison, it is noteworthy that United States is poised to generate the highest revenue, reaching US$35,630.00m by 2024.
In the United States, the demand for anti-diabetes drugs is driven by the high prevalence of diabetes and the increasing awareness about its management.

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

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Analyst Opinion

The global Anti-Diabetes Drugs market has been witnessing significant growth in recent years due to the increasing prevalence of diabetes. In G7 countries, the market is no different, and it is experiencing a surge in demand for anti-diabetes drugs.

Customer preferences: Customers in G7 countries are increasingly looking for drugs that can effectively manage diabetes and prevent complications. They prefer drugs that have fewer side effects and are easy to administer. There is also a growing preference for combination therapies that can provide better glycemic control.

Trends in the market: The Anti-Diabetes Drugs market in G7 countries is witnessing several trends. One of the significant trends is the increasing adoption of GLP-1 receptor agonists. These drugs have shown promising results in managing diabetes and have fewer side effects than traditional drugs. Another trend is the growing demand for SGLT2 inhibitors, which have shown to reduce the risk of cardiovascular events in diabetic patients. The market is also witnessing a shift towards personalized medicine, where drugs are customized based on individual patient needs. Additionally, there is a growing trend towards non-invasive treatment options, such as oral insulin and insulin patches.

Local special circumstances: In the United States, the Anti-Diabetes Drugs market is driven by the high prevalence of diabetes and the increasing adoption of technology in healthcare. The market is also witnessing a shift towards value-based care, where drug pricing is based on patient outcomes. In Japan, the market is driven by the aging population and the increasing prevalence of obesity. The government has also introduced several initiatives to promote the use of generic drugs, which has led to increased competition in the market. In Europe, the market is driven by the increasing prevalence of diabetes and the growing demand for innovative drugs.

Underlying macroeconomic factors: The Anti-Diabetes Drugs market in G7 countries is influenced by several macroeconomic factors. One of the major factors is the increasing healthcare expenditure, which is driving the demand for anti-diabetes drugs. The aging population is also a significant factor, as diabetes is more prevalent in older adults. Additionally, the rising prevalence of obesity is driving the demand for anti-diabetes drugs. The market is also influenced by government policies, such as drug pricing regulations and initiatives to promote the use of generic drugs. Finally, technological advancements in healthcare are also driving the market, as new drugs and treatment options are being developed to manage diabetes more effectively.

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.