UAE Diabetes Therapeutics Market Analysis

UAE Diabetes Therapeutics Market Analysis


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UAE's diabetes therapeutics market is expected to grow from $719 Mn in 2022 to $1,622 Mn in 2030 with a CAGR of 10.7% for the forecasted year 2022-30. The development of novel and ground-breaking treatment options along with supportive government programs like Thiqa and Saada are driving the growth of the market. The UAE diabetes therapeutics market is segmented by type, application, drug, route of administration, and distribution channel. Rimo Pharmaceuticals, Medspero Pharma, and Boehringer Ingelheim are the major players in the UAE diabetes therapeutics market.

ID: IN10AEPH036 CATEGORY: Pharmaceuticals GEOGRAPHY: UAE AUTHOR: Dr. Parul Choudhary

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UAE Diabetes Therapeutics Market Executive Analysis

UAE's diabetes therapeutics market is expected to grow from $719 Mn in 2022 to $1,622 Mn in 2030 with a CAGR of 10.7% for the forecasted year 2022-30. By 2025, it is anticipated that revenue produced in the UAE's entire healthcare sector will have increased by 7.5% annually, reaching $10.7 Bn. By 2026 and 2029, respectively, healthcare expenditure is expected to increase to 4.6% and 5.1% of GDP. With increased government initiatives, the UAE healthcare industry is expanding at an astounding rate. Additionally, the UAE government is significantly enhancing and extending its healthcare system to create a powerful, top-notch healthcare infrastructure. To improve the current infrastructure and match the caliber of services provided in developed nations, the government is also encouraging private sector involvement.

With a prevalence of 16% in the UAE (UAE), diabetes is one of the main public health problems affecting hundreds of millions of people globally. Diabetes can cause serious complications, such as kidney and heart disease, stroke, blindness, and a shorter life span if it is not addressed. Non-optimal glucose level regulation may be to blame for up to one-third of all deaths in adult UAE citizens with Type 2 diabetes mellitus (T2DM). There are few studies done on the Arab population, despite mounting evidence that genetic factors play a role in the development of T2DM in various ethnic groups around the globe. First-line treatment for T2DM metformin has an extremely variable therapeutic response, which is partly influenced by genetic factors. There haven't been any studies done on the UAE population yet, and metformin pharmacogenomic studies have conflicting findings in various ethnic groups.

UAE Diabetes Therapeutics Market Analysis

Market Dynamics

Market Growth Drivers

Due to the enhancement of current services, the introduction of new, improved technologies, and the increased privatization of the healthcare industry, the UAE diabetes therapeutics market is predicted to experience substantial growth. Over the course of the forecast period, rising health awareness among the general population and rising health expenditures are anticipated to support market expansion. The UAE's Vision 2030 strategy seeks to invest in world-class health infrastructure facilities and reduce the prevalence of lifestyle diseases like obesity and diabetes among its citizens. Additionally, a number of government healthcare initiatives, including the Saada and "Thiqa" programs and the Dubai Medical Insurance Law, are expected to support the expansion of the UAE diabetes therapeutics market.

Market Restraints

Diabetes care in the UAE is relatively expensive, which may discourage some patients from getting treatment. Delays in diagnosis and treatment could have negative long-term effects, including complications and increased healthcare expenses. Companies developing diabetes therapeutics that want to join the market may face difficulties due to the UAE's regulatory environment, especially with regard to product registration and approval. This might discourage some businesses from making investments in the market, thereby reducing the range of available treatments for patients hence limiting the expansion of the UAE diabetes therapeutics market.

Competitive Landscape

Key Players

  • Al Waha Pharmaceutical (ARE)
  • Elis Pharmaceuticals (ARE)
  • Gulfdrug (ARE)
  • Rimo Pharmaceuticals (ARE)
  • Medspero Pharma (ARE)
  • Boehringer Ingelheim
  • Eli Lilly
  • Glaxosmithkline
  • Novartis
  • Novo Nordisk
  • Sanofi

Notable Deals

December 2022- In order to advance the Health Metaverse in the UAE, GOQii has collaborated with Harley International Medical Clinic. The comprehensive digital diabetes care initiative will now be available to UAE residents thanks to this partnership. This statement was made at the annual Reimagine Health in the Metaverse event hosted by GOQii.

June 2022- Following the signing of a memorandum of understanding (MoU), Emirates Health Services (EHS) and Novo Nordisk Pharma Gulf will work together on areas of shared interest, most notably healthcare innovation, in an effort to improve health services and adopt the most cutting-edge medical advancements. In accordance with the conditions of the Memorandum of Understanding, Novo Nordisk Pharma Gulf promises to give 50 Type 2 diabetes patients 12 months of free treatment with its oral Semaglutide medication. Within six months, EHS is expected to assess the effectiveness of the therapy. The business will also assist in treating doctors with type 2 diabetes management through scientific communication.

Healthcare Policies and Regulatory Landscape

The Ministry of Health and Prevention (MOHAP) is the authority in charge of approving and regulating medicines in the UAE. All pharmaceutical properties, including prescription drugs, over-the-counter drugs, and medical devices, are listed and approved under the MOHAP's administration. All pharmaceutical goods must be secure, efficient, and of high quality, according to the MOHAP. To ensure adherence to Good Manufacturing Practices, they examine drug applications and perform inspections of manufacturing sites. The MOHAP also controls drug import and export into the UAE and imposes severe penalties for any infractions, such as the selling of illegal or counterfeit medicines. The UAE also has a number of free zones with its own regulatory agencies in addition to the MOHAP. For instance, the Abu Dhabi Health Services Company (SEHA) is in charge of policing healthcare services in Abu Dhabi, while the Dubai Healthcare City Authority (DHCA) regulates pharmaceutical organizations working within the free zone of Dubai Healthcare City.

1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Diabetes Therapeutics Segmentation

By Type (Revenue, USD Billion):

  • Diabetes 1
  • Diabetes 2

By Application (Revenue, USD Billion):

  • Preventive
    • Prediabetes
    • Nutrition
    • Obesity
    • Lifestyle Management
  •  Treatment/Care
    • Diabetes
    • Smoking Cessation
    • Musculoskeletal Disorders
    • Central Nervous System Disorders
    • Cardiovascular Disease
    • Medication Adherence
    • Chronic Respiratory Disorders
    • Gastrointestinal Disorders
    • Rehabilitation
    • Substance Use Disorders & Addiction Management

By Drug (Revenue, USD Billion):

  • Oral Anti-diabetic Drugs
  • Insulin
  • Non-insulin Injectable Drug
  • Combination Drug

By Route of Administration (Revenue, USD Billion):

  • Oral
  • Subcutaneous
  • Intravenous

By Distribution Channel (Revenue, USD Billion):

  • Online Pharmacies
  • Hospital Pharmacies
  • Retail Pharmacies

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

 

 

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.

We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
  • ​Analyzing current needs and determining penetration to estimate the market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

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The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Rimo Pharmaceuticals, Medspero Pharma, and Boehringer Ingelheim are the major players in the UAE diabetes therapeutics market.

The UAE diabetes therapeutics market is expected to grow from $719 Mn in 2022 to $1,622 Mn in 2030 with a CAGR of 10.7% for the forecasted year 2022-2030.

The UAE diabetes therapeutics market is segmented by type, application, drug, route of administration, and distribution channel.


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Last updated on: 13 February 2024
Updated by: Vidhi Upadhyay

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