Romania Diabetes Therapeutics Market Analysis

Romania Diabetes Therapeutics Market Executive Analysis

Romania's diabetes therapeutics market is at around $417 Mn in 2022 and is projected to reach $891 Mn in 2030, exhibiting a CAGR of 9.95% during the forecast period. Romania spends a small amount on healthcare compared to other European countries. In 2022, Romania spent roughly 6% of its GDP on healthcare, which is much less than the average EU expenditure of 10%. Due to this low level of spending, there are problems with the healthcare infrastructure, pharmaceutical accessibility, and healthcare personnel. In comparison to other European countries, Romania generally has poor health outcomes. Both the prevalence of non-communicable diseases like cancer and cardiovascular disorders as well as the incidence of communicable diseases like HIV/AIDS and tuberculosis are significant in the country. The country also has a low life expectancy and a high infant mortality rate when compared to other European countries.

The latest WHO figures show that 2,230 deaths from diabetes mellitus, or 0.96% of all deaths, occurred in Romania in 2020. Romania is ranked #167 in the world by age-adjusted Death Rate, which is 5.39 per 100,000 of the population.

Forxiga is used to treat type 2 diabetes in adults and kids as young as 10 whose condition is not being sufficiently controlled. In individuals who cannot take metformin, it is administered along with a suitable diet and activity regimen. Additionally, it can be used as an "add-on" therapy to other diabetic medications. If Forxiga is combined with insulin or medications that stimulate the production of insulin in type 2 diabetes, the doses of these medications may need to be lowered to prevent hypoglycemia. Dapagliflozin, the active ingredient in Forxiga, inhibits sodium-glucose co-transporter 2 (SGLT2), a protein that functions as a renal transporter of glucose. SGLT2 prevents the kidneys from excreting glucose from the blood into the urine as they filter the blood. The blood glucose levels of diabetic patients are high. Dapagliflozin lowers blood glucose levels by causing the kidney to release more glucose into the urine by inhibiting the activity of SGLT2. Regardless of whether they have diabetes, patients with chronic kidney disease and chronic heart failure can both benefit from blocking the action of SGLT2. The effects of dapagliflozin increase the excretion of salt and water in the urine. This lessens the total amount of blood, which lowers the effort required for the heart to pump blood and improves cardiac function in heart failure patients.

Market Dynamics

Market Growth Drivers

With an estimated 11% of the adult population suffering from the condition, Romania has one of the highest rates of diabetes in all of Europe. Diabetes therapies are in high demand in the nation due to the high prevalence of the disease. Sedentary lifestyles, such as less physical activity and bad eating habits, are more prevalent in Romania. Due to the rise in obesity and diabetes brought on by these lifestyle changes, there is an increasing need for efficient diabetic therapies. Diabetes cases in Romania are on the rise, which is also a result of the country's ageing population. Diabetes is more common in older persons, therefore there is a greater need for diabetes therapies as a result of the ageing population. These factors are the major drivers for the growth of the Romania diabetes therapeutics market.

Market Restraints

Many people in Romania still have inadequate access to healthcare services, especially diabetic medications, despite rising healthcare spending. The expansion of the market for diabetic therapies may be constrained by limited access to healthcare. Diabetes may go undiagnosed and untreated in Romania because a large portion of the population may not be aware of the risk factors and symptoms. Furthermore, the ability of healthcare professionals to correctly diagnose and treat diabetes may be lacking, which could restrain the development of the market for diabetes therapies. For many Romanians, especially those with low incomes, the price of diabetes medications can be a considerable barrier. Diabetes therapeutic demand may be constrained by high treatment costs, which may impede the Romania diabetes therapeutics market expansion.

Competitive Landscape

Key Players

• Sprint Pharma (ROU)
• Laropharm (ROU)
• Terapia (ROU)
• Cegedim (ROU)
• Magistra (ROU)
• Eli Lilly
• Glaxosmithkline
• Johnson Johnson
• Merck
• Novartis
• Novo Nordisk
• Sanofi
• Takeda Pharmaceutical

Healthcare Policies and Regulatory Landscape

The National Agency for Medicines and Medical Devices (NAMMD) is Romania's regulatory body in charge of overseeing medicines and medical equipment. Romanian medications and medical equipment are evaluated, approved, and regulated by a separate government organization that falls under the Ministry of Health. All pharmaceuticals and medical devices sold in Romania must adhere to strict safety, efficacy, and quality requirements. This is the responsibility of NAMMD. The organization oversees granting pharmaceutical firms licenses and approving the commercialization of drugs and medical devices throughout the nation. Additionally, it manages the distribution and sale of pharmaceuticals and medical devices and controls their pricing. Additionally, NAMMD is in charge of keeping an eye on adverse effects and side effects as well as the overall safety of medications and medical devices in Romania. In order to protect the public's health, the agency gathers and examines data on drug safety.