Market Size of Oman Diabetes Drugs Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 212.26 Million |
| Market Size (2029) | USD 292.31 Million |
| CAGR (2024 - 2029) | 6.61 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oman Diabetes Drugs Market Analysis
The Oman Diabetes Drugs Market size is estimated at USD 212.26 million in 2024, and is expected to reach USD 292.31 million by 2029, growing at a CAGR of 6.61% during the forecast period (2024-2029).
Diabetic drugs are medicines developed to stabilize and control blood glucose levels amongst 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. Although the current numbers show that the existence of diabetes is comparatively lesser in Oman, the growth rate of the diabetic population is projected to be higher in the country.
According to Mordor Intelligence, the diabetic population in Oman is expected to reach 0.84 million by 2027. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day to maintain nominal blood glucose levels, such as administering additional insulin or ingesting additional carbohydrates by monitoring their blood glucose levels. Diabetes poses an emerging healthcare burden across the country and is one of the leading causes of premature death, morbidity, and loss of economic growth.
Oman, Ministry of Health, recently participated in the virtual launch of the WHO Global Diabetes Compact, organized jointly by the World Health Organization and the government of Canada aimed at raising awareness level about diabetes as a global disease, in addition to expanding prevention and treatment as part of primary health care and universal health coverage.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
