Latin America Alpha-Glucosidase Inhibitors Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.30 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Alpha-Glucosidase Inhibitors Market Analysis
The Latin America Alpha-Glucosidase Inhibitors Market size is expected to grow from USD 72.47 million in current year to USD 85.24 million by forecast year, at a CAGR of 3.30% during the forecast period.
The COVID-19 pandemic has been testing the capacity to respond and adapt to populations, governments, and health systems worldwide. In the Latin America region, Brazil presented the first suspected and the first confirmed cases on January 27th and February 26th, respectively. Most Latin American countries failed to implement timely measures to protect individuals with diabetes, which may severely impact individuals, health systems, and economies.
The diabetic prevalence is high in countries in the Latin American region, and Mexico is known to have a high number of diabetic patients due to the growing prevalence of Type-2 diabetes in the country. The gradually growing obesity rate, combined with the genetic predisposition for Type-2 diabetes, is acted as a prominent driver for the increase in the Type-2 diabetic population over the last 40 years. Currently, close to 10% of the total population is living with diabetes. Diabetic patients in the Latin American region mainly suffer from Type-2 diabetes, and they accounted for close to 90% of the total diabetic population in 2021.
This is driving the demand for Alpha-Glucosidase Inhibitors in Latin America, thereby driving the market in focus during the forecast period.
Latin America Alpha-Glucosidase Inhibitors Market Trends
Rising Diabetes Prevalence in Latin America Region
In Latin America, the incidence of type 1 diabetes ranges from 0.4 to 8.3 cases per 100,000 children under the age of 15, and the prevalence of type 2 diabetes ranges from 1.2% to 8%, with higher prevalence rates in urban areas. Diabetes is expected to increase by 38% in Latin America over the next decade, compared to a 14% increase in the population. By 2025, the total number of diabetes cases is expected to more than double and surpass the number of cases.
Factors contributing to this increase include population aging and increased life expectancy, urbanization, and lifestyle changes among Native American populations. Diabetes treatment is available to only a minority of people in many places. Furthermore, type 2 diabetes is frequently diagnosed late in the disease's progression, resulting in 10-40% of patients having chronic complications at the time of diagnosis. Hospital costs account for most direct treatment costs, and diabetes mortality has increased significantly in some areas over the last two decades.
Therefore, the studied market's growth is anticipated in the Latin America Region due to the factors above.
Brazil is Expected to Dominate the Latin America Alpha-Glucosidase Inhibitors Market.
Among the Latin American countries, Brazil dominates around 79% of the total Latin America Alpha-Glucosidase Inhibitors Market. This is mainly due to the high diabetes prevalence in the country. In Brazil, the Brazilian health system is managed by each state and local health secretariat and is governed by the MOH. Furthermore, in many towns where the public sector cannot meet people's requirements, partnerships with private organizations have been put in place to increase access to PHC. The Brazilian health system in Brazil provides coverage to medicines through several programs that include a 20% expanded access to essential medicines. Brazil offers an extensive free immunization program. Brazil faced numerous lawsuits over the last 20 years, demanding the coverage of high-cost drugs to treat diabetes and certain rare or low-prevalence diseases.
According to Universal Health Coverage 2022, The four nations, including Argentina, Brazil, Colombia, and Mexico, achieved an overall index of essential coverage of 76-77 percent, with households spending less than 25 percent of their income on health care and expanding access to primary healthcare systems and coverage for noncommunicable illnesses enhanced service coverage, while a rise in the number of qualified healthcare personnel enabled community outreach.
AGIs effectively improve the metabolic profile and potentially lower the risk of long-term hyperglycemia complications in patients with type 2 diabetes mellitus. They can be used alone or with other antihyperglycemic medications and insulin. They have no links to any serious negative consequences. This makes them especially useful for patients with renal, cardiorespiratory, or liver issues, who are at a higher risk of developing lactic acidosis and thus are not good candidates for metformin therapy. They also do not cause hypoglycemia, making them a viable alternative to sulfonylureas, which are frequently associated with hypoglycemia. Patients should be counseled on maintaining an appropriate diet, as a high carbohydrate diet can exacerbate gastrointestinal side effects. If used with other anti-diabetic medications, the patient should keep glucose on hand to quickly reverse hypoglycemia. Type 2 diabetes mellitus management necessitates an interdisciplinary approach; the primary care provider, pharmacist, and nurse practitioner should educate patients about side effects and how to maintain an appropriately healthy diet.
The market is expected to grow during the forecast period due to the factors above.
Latin America Alpha-Glucosidase Inhibitors Industry Overview
The market studied is highly fragmented into many manufacturers like Bayer, SunPharma, Pfizer, and Takeda, holding a presence in Latin America Region.
Latin America Alpha-Glucosidase Inhibitors Market Leaders
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Takeda
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Pfizer
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Bayer
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Sun Pharma
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Glenmark
*Disclaimer: Major Players sorted in no particular order
Latin America Alpha-Glucosidase Inhibitors Market News
- April 2023: A study was planned to move towards drug repurposing by utilizing Food and drug administration (FDA)-approved drugs against α-glucosidase and investigating the molecular mechanisms. The target protein was refined and optimized by introducing missing residues and minimizing to remove clashes to find the potential inhibitor against α-glucosidase.
- July 2022: The Drug pricing regulator National Pharmaceutical Pricing Authority (NPPA) fixed the prices of 84 drug formulations, including those used for the treatment of diabetes.
Latin America Alpha-Glucosidase Inhibitors Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Drivers
- 4.3 Restraints
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Intensity of Competitive Rivalry
5. Market Segmentation
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5.1 Drug
- 5.1.1 Alpha-glucosidase Inhibitors
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5.2 Geography
- 5.2.1 Brazil
- 5.2.2 Mexico
- 5.2.3 Rest of Latin America
6. MARKET INDICATORS
- 6.1 Type-1 Diabetes Population
- 6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles
- 7.1.1 Bayer pharma
- 7.1.2 Takeda
- 7.1.3 Pfizer
- 7.1.4 Glenmark pharma
- 7.1.5 Sun pharma
- 7.1.6 Torrent
- 7.1.7 Unichem
- 7.1.8 Hexalag
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Latin America Alpha-Glucosidase Inhibitors Industry Segmentation
Alpha-glucosidase inhibitors prevent the small intestine from absorbing carbs. They block enzymes that convert complicated non-absorbable carbs into simple absorbable carbohydrates by competitive inhibition. The Latin America Alpha-Glucosidase Inhibitors Market is segmented by by Drug (Alpha-Glucosidase Inhibitors) and Geography (Brazil, Mexico, and the Rest of Latin America). The report offers the value (in USD) and Volume (in Unit) for the above segments.
| Drug | Alpha-glucosidase Inhibitors |
| Geography | Brazil |
| Mexico | |
| Rest of Latin America |
Latin America Alpha-Glucosidase Inhibitors Market Research FAQs
What is the current Latin America Alpha-Glucosidase Inhibitors Market size?
The Latin America Alpha-Glucosidase Inhibitors Market is projected to register a CAGR of 3.30% during the forecast period (2024-2029)
Who are the key players in Latin America Alpha-Glucosidase Inhibitors Market?
Takeda, Pfizer, Bayer, Sun Pharma and Glenmark are the major companies operating in the Latin America Alpha-Glucosidase Inhibitors Market.
What years does this Latin America Alpha-Glucosidase Inhibitors Market cover?
The report covers the Latin America Alpha-Glucosidase Inhibitors Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Alpha-Glucosidase Inhibitors Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Alpha-Glucosidase Inhibitors Industry Report
Statistics for the 2024 Latin America Alpha-Glucosidase Inhibitors market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Alpha-Glucosidase Inhibitors analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
