Anti-Diabetes Drugs - Romania

Romania

The Anti-Diabetes Drugs market in Romania is projected to reach a revenue of US$110.50m in 2024.
This represents a significant growth potential for the country's pharmaceutical industry.
It is expected that the market will continue to expand at an annual growth rate (CAGR 2024-2028) of 5.50%, resulting in a market volume of US$136.90m by 2028.
When compared globally, it is worth noting that United States is anticipated 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 dominance of the US market in this particular market.
The demand for anti-diabetes drugs in Romania is steadily increasing due to a rise in diabetes prevalence.

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

Market

Region

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Currency

Analyst Opinion

The Anti-Diabetes Drugs market in Romania has been showing significant growth in recent years.

Customer preferences: Romania has a high prevalence of type 2 diabetes, which has led to an increase in demand for anti-diabetes drugs. Patients in Romania tend to prefer oral medications over injectables, which has resulted in a higher demand for oral anti-diabetes drugs.

Trends in the market: The anti-diabetes drugs market in Romania has been growing due to the increasing prevalence of type 2 diabetes in the country. The market is dominated by big pharmaceutical companies, which have been investing in research and development to introduce new and innovative drugs in the market. The market has also seen a shift towards combination therapies, which has led to an increase in the demand for fixed-dose combination drugs.

Local special circumstances: Romania is one of the poorest countries in the European Union, which has led to a significant portion of the population being unable to afford expensive anti-diabetes drugs. This has led to a rise in the demand for generic drugs, which are more affordable. The government has also implemented measures to increase access to anti-diabetes drugs by subsidizing the cost of medications.

Underlying macroeconomic factors: The Romanian economy has been growing steadily in recent years, which has led to an increase in healthcare spending. The government has been investing in healthcare infrastructure and has implemented measures to increase access to healthcare services. The aging population in Romania has also contributed to the growth of the anti-diabetes drugs market, as older individuals are more likely to develop type 2 diabetes.

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.