Anti-Diabetes Drugs - Japan

Japan

The Anti-Diabetes Drugs market in Japan is projected to witness a significant increase in revenue, with an estimated value of ¥US$2.83bn in 2024.
This indicates the country's growing demand for drugs aimed at combating diabetes.
Additionally, it is expected that the market will continue to expand at a steady pace, with an annual growth rate (CAGR 2024-2028) of 5.08%.
By 2028, the market volume is predicted to reach ¥US$3.45bn, further demonstrating the country's commitment to addressing the issue of diabetes.
In terms of global comparison, it is noteworthy that United States is projected to generate the highest revenue in the Anti-Diabetes Drugs market, with an estimated value of US$35,630.00m in 2024.
This highlights the significant scale of the market United States and its dominant position in the global pharmaceutical industry.
Japan is at the forefront of developing innovative anti-diabetes drugs, leveraging its advanced healthcare infrastructure and research capabilities.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Japan has been experiencing significant growth in recent years.

Customer preferences: Japanese consumers are increasingly concerned about their health and wellness, leading to a growing demand for anti-diabetes drugs. Additionally, the aging population in Japan has contributed to the rise in demand for these drugs.

Trends in the market: One major trend in the Japanese anti-diabetes drugs market is the increasing use of combination therapies. Many patients are now using multiple drugs to manage their diabetes, rather than relying on a single medication. Another trend is the shift towards newer, more expensive drugs that offer better efficacy and fewer side effects. This has led to a decline in the use of older, less effective drugs.

Local special circumstances: The Japanese government has implemented various initiatives to promote the use of generic drugs, including anti-diabetes medications. This has led to increased competition in the market, which has driven down prices. Additionally, the government has implemented strict regulations on drug pricing, which has limited the ability of pharmaceutical companies to increase prices.

Underlying macroeconomic factors: Japan's aging population and high prevalence of diabetes are major macroeconomic factors driving the growth of the anti-diabetes drugs market. Additionally, the country's strong healthcare infrastructure and high level of healthcare spending have contributed to the growth of the market. However, the government's efforts to promote the use of generic drugs and control drug pricing may limit the growth potential of the market in the future.

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.