The Anti-Diabetes Drugs market in United Arab Emirates has been steadily growing over the past few years.
Customer preferences: The demand for Anti-Diabetes Drugs in United Arab Emirates is mainly driven by the increasing prevalence of diabetes in the country. According to the International Diabetes Federation, the prevalence of diabetes in United Arab Emirates is one of the highest in the world. The population in United Arab Emirates is also becoming more health-conscious and aware of the importance of managing diabetes, which is further driving the demand for Anti-Diabetes Drugs.
Trends in the market: The Anti-Diabetes Drugs market in United Arab Emirates is witnessing a shift towards more innovative and advanced drugs. The market is dominated by multinational pharmaceutical companies, who are investing heavily in research and development to bring new and improved products to the market. There is also a growing trend towards combination therapies, which offer better efficacy and convenience for patients.
Local special circumstances: The healthcare system in United Arab Emirates is largely government-funded, which means that the government plays a significant role in regulating the pharmaceutical industry. The government has implemented various initiatives to improve the quality of healthcare in the country, including the National Diabetes Strategy, which aims to reduce the incidence of diabetes and improve the management of the disease.
Underlying macroeconomic factors: The economy of United Arab Emirates is largely driven by the oil and gas industry, which has been affected by the global economic downturn. However, the government has been investing heavily in diversifying the economy, particularly in the healthcare sector. This has led to an increase in healthcare spending and a growing demand for Anti-Diabetes Drugs. The government has also been promoting medical tourism, which is expected to further boost the demand for Anti-Diabetes Drugs in the country.
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.
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