Anti-Diabetes Drugs - Argentina

Argentina

In Argentina, the revenue in the Anti-Diabetes Drugs market is expected to reach €255.40m by 2024.
Looking ahead, the market is projected to grow at an annual growth rate (CAGR 2024-2029) of 6.66%, leading to a market volume of €352.60m by 2029.
When compared to other countries worldwide, United States is anticipated to generate the highest revenue in this market, with a projected revenue of €34,730.00m in 2024.
Argentina's anti-diabetes drug market is witnessing a surge in demand due to the country's rising prevalence of diabetes.

Key regions: India, Australia, Italy, Europe, Brazil

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Región

Comparación de regiones

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Analyst Opinion

The Anti-Diabetes Drugs market in Argentina is witnessing significant growth in recent years due to several factors.

Customer preferences: The increasing prevalence of diabetes in Argentina has led to a rise in demand for anti-diabetes drugs. Patients are increasingly seeking effective and affordable treatment options to manage their condition. Additionally, there is a growing preference for combination therapies that can target multiple aspects of the disease.

Trends in the market: One of the key trends in the anti-diabetes drugs market in Argentina is the increasing use of generic drugs. This is due to the government's efforts to reduce healthcare costs by promoting the use of generic drugs. Another trend is the growing popularity of GLP-1 receptor agonists, which are injectable drugs that can help regulate blood sugar levels. These drugs are becoming more widely available and affordable, making them a popular choice among patients.

Local special circumstances: Argentina has a large population of people living with diabetes, which is driving demand for anti-diabetes drugs. Additionally, the country has a well-established healthcare system that provides access to affordable drugs. However, the market is also facing challenges such as the high cost of new innovative drugs and the lack of awareness among patients about the importance of managing their condition.

Underlying macroeconomic factors: The economic situation in Argentina has been unstable in recent years, which has impacted the anti-diabetes drugs market. Inflation and currency devaluation have led to higher drug prices, making it difficult for patients to afford their medication. Additionally, the COVID-19 pandemic has disrupted supply chains and led to shortages of certain drugs. However, the government's efforts to promote the use of generic drugs and regulate drug prices are expected to drive growth in the market in the coming years.

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.