Market Size of Middle East and Africa Diabetes Drugs Industry
Study Period | 2018 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2018 - 2022 |
CAGR | 5.97 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Middle East and Africa Diabetes Treatment Market Analysis
The Middle East and Africa Diabetes Drugs Market size is estimated at USD 4.57 billion in 2023 and is expected to reach USD 6.10 billion by 2028, growing at a CAGR of 5.97% during the forecast period (2023-2028).
The COVID-19 pandemic positively impacted the Middle East and African diabetes drugs market. Diabetes and uncontrolled hyperglycemia are risk factors for poor outcomes in patients with COVID-19, including an increased risk of severe illness or death. People with diabetes have a weaker immune system, the COVID-19 complication aggravates the condition, and the immune system gets weaker very fast. People with diabetes have more chances of getting into serious complications than normal people.
Diabetic drugs are medicines developed to stabilize and control blood glucose levels among people with diabetes. Diabetic drugs are commonly used to manage diabetes. Diabetic drugs have been potential candidates for treating diabetic patients affected by SARS-CoV-2 infection during the COVID-19 pandemic. Seventy-three million adults (20-79) were living with diabetes in the IDF MENA Region in 2021. This figure is estimated to increase to 95 million by 2030. Forty-eight million adults in the IDF MENA Region live with impaired glucose tolerance, increasing their risk of developing type 2 diabetes. Diabetes was responsible for 796,000 deaths in the IDF MENA Region in 2021. USD 33 billion was spent on healthcare for people with diabetes in 2021.
The Middle East and African regions witnessed an alarming increase in the prevalence of diabetes in recent years. The rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Patients with diabetes require many daily corrections to maintain nominal blood glucose levels, such as administering additional insulin or ingesting additional carbohydrates by monitoring their blood glucose levels.
Therefore, owing to the factors mentioned above, the studied market is anticipated to witness growth over the analysis period.