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Latvia Antidiabetics Industry Outlook 2024 - 2028

See how Latvia Antidiabetics performed compared to key markets such as Canada, Italy and Australia.

Key Market Indicators

Sales of diabetes medicine in Latvia are projected to hit $44 million by 2028, up from $37 million in 2023, marking an average annual growth rate of 2.8%. This steady rise follows a long-term trend, with the market expanding by roughly 7% annually since 2006. In 2023, Latvia ranked ninth globally in diabetes medicine sales, with New Zealand leading at the same $37 million mark. Italy, Australia, and Croatia secured the second, third, and fourth spots, respectively. On the import front, Latvia's insulin imports are forecasted to decline slightly, reaching approximately $9.2 million by 2028, down from $9.8 million in 2023. This represents an average annual decrease of 1%. However, Latvian demand for insulin has been on a general upswing, growing by 6.5% annually since 1999. Conversely, Latvian insulin exports are expected to surge, reaching $23 million by 2028 from $18 million in 2023, at an average annual growth rate of 3.1%. Since 1999, the country’s insulin supply has increased by 6.4% annually. In 2023, Latvia ranked 14th globally in insulin exports, with Russia taking the lead at $18 million. France, Italy, and China followed in second, third, and fourth places, respectively.

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Latvia Antidiabetics Market Data and Forecasts

How much will Latvia Antidiabetics Market grow to 2028?

Forecast: Export of Insulin in Dosage Forms from Latvia
Forecast: Import of Insulin in Dosage Forms to Latvia
Forecast: Export of Insulin in Dosage Forms from Latvia
Forecast: Import of Insulin in Dosage Forms to Latvia
Forecast: Import of Insulin Not in Dosage Forms to Latvia
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