Latin America Diabetes Care Devices Market Size (2024 - 2029)

The Latin America Diabetes Care Devices Market is projected to experience growth over the forecast period, driven by factors such as the increased need for diabetes management due to the COVID-19 pandemic and the high prevalence of Type-2 diabetes in the region. The pandemic highlighted the vulnerability of diabetic patients, leading to a heightened demand for diabetes care devices. Despite challenges in timely healthcare responses, the market is expected to expand as manufacturers and healthcare systems adapt to the growing needs of the diabetic population, particularly in countries with high diabetes rates like Mexico.

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Market Size of Latin America Diabetes Care Devices Industry

Latin America Diabetes Care Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 5.64 %

Major Players

Latin America Diabetes Care Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Latin America Diabetes Care Devices Market Analysis

The Latin America Diabetes Care Devices Market size is estimated at USD 1.6 billion in 2023, and is expected to reach USD 2.1 billion by 2028, growing at a CAGR of 5.64% during the forecast period (2023-2028).

The COVID-19 pandemic has substantially impacted the Latin America Diabetes Care Devices Market. People with diabetes have a weak immune system so, with COVID-19, the immune system gets weaker very fast. People with diabetes will have more chances to get into serious complications rather than normal people. The manufacturers of diabetes care devices have taken care during COVID-19 to deliver the diabetes care devices to diabetes patients with the help of local governments. Doctors around the world suggest diabetes patients should check their diabetes levels more often to be careful and the intake of medicine has increased, which has led to an increase in the usage of diabetes care devices.

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 case. Most Latin American countries failed to implement timely measures to protect individuals with diabetes, which severely impacted 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, 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.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.

Latin America Diabetes Care Devices Industry Segmentation

Diabetes care devices are the hardware, equipment, and software used by diabetes patients to regulate blood glucose levels, prevent diabetes complications, lessen the burden of diabetes, and enhance the quality of life. The Latin America Diabetes Care Devices Market is segmented into Monitoring Devices (Self-monitoring Blood Glucose Device, Continuous Glucose Monitoring Device), Management Devices (Insulin Pump, Insulin Syringes, Cartridges in Reusable pens, Disposable Pens, and Jet Injectors), and Geography (Brazil, Mexico, and Rest of Latin America). The report offers the value (in USD) and volume (in Units) for the above segments. Further, the report will cover a segment-wise breakdown (Value and Volume) for all the countries covered under the Table of Contents.

Monitoring Devices
Self-monitoring Blood Glucose Device
Glucometer Devices
Blood Glucose Test Strips
Lancets
Continuous Glucose Monitoring Device
Sensors
Durables (Receivers and Transmitters)
Management Devices
Insulin Pump
Insulin Pump Device
Insulin Pump Reservoir
Infusion Set
Insulin Syringes
Cartridges in Reusable pens
Disposable Pens
Jet Injectors
Geography
Brazil
Mexico
Rest of Latin America
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Latin America Diabetes Care Devices Market Size Summary

The Latin America Diabetes Care Devices Market is experiencing a notable expansion, driven by the increasing prevalence of diabetes, particularly Type-2, across the region. The market is characterized by a growing demand for advanced diabetes care solutions, such as Continuous Glucose Monitoring (CGM) devices, which are gaining traction due to their ability to provide real-time glucose level readings and improve patient management. The COVID-19 pandemic has further underscored the importance of these devices, as individuals with diabetes faced heightened health risks, prompting a surge in the usage of diabetes care devices. The market landscape is moderately fragmented, with key players like Abbott, Roche, and Medtronic employing both organic and inorganic growth strategies to enhance their market presence.

Brazil stands out as a significant player in the region, holding the largest market share and demonstrating a commitment to improving diabetes care through healthcare reforms and partnerships with private organizations. The Brazilian health system has made strides in increasing access to diabetes care, supported by government initiatives and the provision of essential medications and supplies. The market's growth is also fueled by technological advancements and increased awareness of diabetes management, alongside the rising geriatric and obese populations. As the region continues to address the challenges posed by diabetes, the market is poised for sustained growth, with continuous innovations in diabetes care devices playing a pivotal role.

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Latin America Diabetes Care Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Monitoring Devices

      1. 2.1.1 Self-monitoring Blood Glucose Device

        1. 2.1.1.1 Glucometer Devices

        2. 2.1.1.2 Blood Glucose Test Strips

        3. 2.1.1.3 Lancets

      2. 2.1.2 Continuous Glucose Monitoring Device

        1. 2.1.2.1 Sensors

        2. 2.1.2.2 Durables (Receivers and Transmitters)

    2. 2.2 Management Devices

      1. 2.2.1 Insulin Pump

        1. 2.2.1.1 Insulin Pump Device

        2. 2.2.1.2 Insulin Pump Reservoir

        3. 2.2.1.3 Infusion Set

      2. 2.2.2 Insulin Syringes

      3. 2.2.3 Cartridges in Reusable pens

      4. 2.2.4 Disposable Pens

      5. 2.2.5 Jet Injectors

    3. 2.3 Geography

      1. 2.3.1 Brazil

      2. 2.3.2 Mexico

      3. 2.3.3 Rest of Latin America

Latin America Diabetes Care Devices Market Size FAQs

The Latin America Diabetes Care Devices Market is projected to register a CAGR of 5.64% during the forecast period (2024-2029)

Abbott Diabetes Care, Medtronic PLC, Lifescan Inc., Roche Diabetes Care and Eli Lilly and Company are the major companies operating in the Latin America Diabetes Care Devices Market.

Latin America Diabetes Care Devices Market Report Snapshots

Latin America Diabetes Care Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)