Market Trends of Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Industry
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 in the United States, Canada, and Europe.
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, owing to the factors above, the growth of the studied market is anticipated in the Latin America Region.
Mexico is Expected to Dominate the Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Market over the forecast period
Among the Latin American countries, Mexico dominates around 72% of the total Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Market in the current year. This is mainly due to the high diabetes prevalence in the country. In Mexico, the Mexican 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.
SGLT-2 inhibitors, commonly known as gliflozins, are a medication used to treat type 2 diabetes by lowering high blood glucose levels. SGLT-2 inhibitors are important in managing cardiovascular risk factors such as blood pressure, glycemia, weight, cardiac function, and anti-inflammatory action. Technological advancements have increased, leading to several modifications in the SGLT-2 inhibitors or the formulations being developed.
According to Universal Health Coverage 2022, The four nations, leading, 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.
