Anti-Diabetes Drugs - Brazil

Brazil

The Anti-Diabetes Drugs market in Brazil is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is projected to reach €1.44bn by 2024.
Furthermore, it is anticipated that the market will exhibit a compound annual growth rate (CAGR 2024-2029) of 7.84%, resulting in a market volume of €2.10bn by 2029.
When compared globally, United States is expected to generate the highest revenue in the Anti-Diabetes Drugs market, with a projected revenue of €35,090.00m in 2024.
Brazil is experiencing a surge in demand for anti-diabetes drugs as the country grapples with a growing diabetes epidemic.

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

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Anti-Diabetes Drugs market in Brazil has been experiencing steady growth in recent years.

Customer preferences: Brazil has a large population of people with diabetes, which has led to a high demand for anti-diabetes drugs. Patients in Brazil tend to prefer oral medications over injectables, which has driven the growth of the oral anti-diabetes drugs market in the country. Additionally, patients are increasingly looking for drugs that not only manage their blood sugar levels but also have fewer side effects.

Trends in the market: The Brazilian government has been taking steps to increase access to anti-diabetes drugs for its citizens. One such initiative is the "Farmacia Popular" program, which provides low-cost medications to the population. This program has helped to increase the availability of anti-diabetes drugs in the country and has contributed to the growth of the market.Another trend in the market is the increasing use of generic drugs. Generic drugs have been gaining popularity in Brazil due to their lower cost compared to branded drugs. This trend has led to increased competition in the market, which has driven down prices and made anti-diabetes drugs more affordable for patients.

Local special circumstances: Brazil has a large population of people with diabetes, which has led to a high demand for anti-diabetes drugs. Additionally, the country has a public healthcare system that provides free or low-cost healthcare to its citizens. This has helped to increase access to anti-diabetes drugs for patients who may not be able to afford them otherwise.

Underlying macroeconomic factors: Brazil's economy has been slowly recovering from a recession, which has led to increased spending on healthcare. This has helped to drive the growth of the anti-diabetes drugs market in the country. Additionally, Brazil has a large pharmaceutical industry, which has contributed to the availability of anti-diabetes drugs in the market.

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.