Market Size of Saudi Arabia Diabetes Drugs Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 1.87 Billion |
| Market Size (2029) | USD 2.89 Billion |
| CAGR (2024 - 2029) | 9.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Saudi Arabia Diabetes Drugs Market Analysis
The Saudi Arabia Diabetes Drugs Market size is estimated at USD 1.87 billion in 2024, and is expected to reach USD 2.89 billion by 2029, growing at a CAGR of 9% during the forecast period (2024-2029).
More than one in ten people in Saudi Arabia are now living with diabetes and the prevalence of the disease will almost double by 2045, according to the report by the International Diabetes Federation (IDF). The IDF report mentioned that 4.27 million people in Saudi Arabia - which has a population of about 34.8 million have diabetes, while a further 1.86 million people have the disease but are yet to be diagnosed. This figure will increase to 5.6 million by 2030 and further to 7.5 million by 2045. Due to the early age and longer diabetes duration, the youth is at risk of developing diabetes at a younger age, which lessens their quality of life, shortens life expectancy, and increases healthcare costs to society.
The prevalence of diabetes is growing among all ages in Saudi Arabia, which can be attributed to the increasingly obese population, an unhealthy diet, and a sedentary lifestyle. When diabetes is undetected or inadequately treated, people with diabetes are at risk of serious and life-threatening complications, such as heart attack, stroke, kidney failure, blindness, and lower-limb amputation. These result in reduced quality of life and higher healthcare costs, leading to a greater need for access to care. The rising prevalence of diabetes and obesity, growing awareness of diabetic care, healthcare expenditure, and technological advancements are a few factors that are further driving the market.
Saudi Arabia is aiming to reduce the prevalence of diabetes by 10% over the next decade. Several initiatives, including taxing sugary drinks, fitness programs, and focusing on preventative care, are being taken by the government to stem this epidemic. The government's focus on combating diabetes and the higher purchasing power of the people in the country may help the market for diabetes drugs during the forecast period.
