The Anti-Diabetes Drugs market in Australia & Oceania has been steadily growing over the past few years, driven by a combination of factors such as increasing prevalence of diabetes, aging population, and rising healthcare expenditure.
Customer preferences: Patients in Australia & Oceania are increasingly seeking personalized treatment options for diabetes management. They are looking for drugs that not only effectively manage their blood sugar levels but also have fewer side effects. Furthermore, patients are increasingly turning to alternative therapies such as herbal medicines and dietary supplements to manage their condition.
Trends in the market: One of the key trends in the Anti-Diabetes Drugs market in Australia is the increasing use of GLP-1 receptor agonists. These drugs stimulate insulin secretion and suppress glucagon secretion, resulting in improved glycemic control. Another trend is the growing popularity of SGLT2 inhibitors, which lower blood glucose levels by inhibiting glucose reabsorption in the kidneys. The market is also witnessing a shift towards combination therapies, where patients are prescribed a combination of drugs to manage their condition more effectively.
Local special circumstances: Australia & Oceania has one of the highest prevalence rates of diabetes in the world. According to the International Diabetes Federation, around 1.2 million people in Australia have diabetes, and this number is expected to rise to 2.5 million by 2030. The region also has a significant aging population, which is more susceptible to developing diabetes. Furthermore, the high healthcare expenditure in the region means that patients have access to a wide range of treatment options.
Underlying macroeconomic factors: The Anti-Diabetes Drugs market in Australia & Oceania is being driven by a combination of macroeconomic factors such as increasing healthcare expenditure, rising prevalence of diabetes, and an aging population. The region has a well-developed healthcare system, which provides patients with access to a wide range of treatment options. Furthermore, the region has a high level of disposable income, which means that patients are willing to pay for premium treatment options. Overall, the Anti-Diabetes Drugs market in Australia & Oceania is expected to continue growing in the coming years, driven by the increasing prevalence of diabetes and the growing demand for personalized treatment options.
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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