Market Size of Mexico Blood Glucose Monitoring Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 357.74 Million |
| Market Size (2029) | USD 542.90 Million |
| CAGR (2024 - 2029) | 8.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Mexico Blood Glucose Monitoring Market Analysis
The Mexico Blood Glucose Monitoring Market size is estimated at USD 357.74 million in 2024, and is expected to reach USD 542.90 million by 2029, growing at a CAGR of 8.70% during the forecast period (2024-2029).
Mexico is currently grappling with a major health crisis caused by the increasing prevalence of diabetes among its population. Recent data from the International Diabetes Federation (IDF) reveals that Mexico ranks among the countries with the highest rates of diabetes worldwide. The IDF's findings indicate that an estimated 15.2 million adults between the ages of 20 and 79 in Mexico are affected by diabetes, representing approximately 10.3% of the adult population. This concerning prevalence underscores the critical need for comprehensive strategies to combat the diabetes epidemic in the nation.
Various factors contribute to the elevated rates of diabetes in Mexico. Factors such as rapid urbanization, shifting dietary habits, and sedentary lifestyles have resulted in a rise in obesity rates, a significant risk factor for type 2 diabetes. Additionally, genetic predisposition, socioeconomic inequalities, and limited access to healthcare services further compound the issue, particularly affecting marginalized communities.
As the prevalence of diabetes continues to increase in Mexico, the demand for blood glucose devices is also on the rise. This trend is driving the growth of the blood glucose devices market in the country, as more individuals are in need of monitoring their blood sugar levels regularly.
Overall, the increasing prevalence of diabetes in Mexico is driving the growth of the blood glucose devices market in the country, as more individuals are seeking effective solutions to manage their condition and improve their quality of life. This trend is expected to continue in the coming years, as the healthcare industry focuses on addressing the challenges posed by the rising burden of diabetes in Mexico.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
Mexico Blood Glucose Monitoring Industry Segmentation
A blood glucose monitoring device consists of a handheld meter and disposable test strips. The user pricks their finger with a lancet to draw a small drop of blood, which is then applied to the test strip. The meter analyzes the blood sample and displays the glucose concentration in milligrams per deciliter (mg/dL) or millimoles per liter (mmol/L) on a digital screen. Mexico Blood Glucose Monitoring Market is segmented into Type and component. The report offers the value (in USD) and volume (in Units) for the above segments.
| Self-monitoring blood glucose devices | |
| Glucometer Devices | |
| Test Strips | |
| Lancets |
| Continuous blood glucose monitoring devices | |
| Sensors | |
| Durables (Receivers and Transmitters) |
Mexico Blood Glucose Monitoring Market Size Summary
The Mexico blood glucose monitoring market is experiencing significant growth, driven by the country's escalating diabetes crisis. With a high prevalence of diabetes, particularly type 2, Mexico faces a substantial healthcare challenge, necessitating effective monitoring solutions. Factors such as urbanization, changing dietary habits, and sedentary lifestyles have contributed to rising obesity rates, a key risk factor for diabetes. This has led to an increased demand for blood glucose monitoring devices, as more individuals seek to manage their condition and improve their quality of life. The market is characterized by a mix of major players and generic manufacturers, with technological advancements in continuous glucose monitoring devices playing a crucial role in market expansion.
The market's growth is further supported by the rising incidence of diabetes-related complications, which underscores the importance of regular monitoring. Continuous glucose monitoring sensors, which offer more convenience than traditional finger-prick methods, are gaining popularity. The COVID-19 pandemic has highlighted the need for better glycemic control, as poorly managed diabetes is linked to higher hospitalization and mortality rates from viral illnesses. The market is expected to continue its upward trajectory, driven by technological innovations and strategic partnerships among key industry players, aiming to enhance patient care and address the challenges posed by diabetes in Mexico.
Mexico Blood Glucose Monitoring Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Drivers
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1.3 Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Self-monitoring blood glucose devices
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2.1.1 Glucometer Devices
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2.1.2 Test Strips
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2.1.3 Lancets
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2.2 Continuous blood glucose monitoring devices
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2.2.1 Sensors
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2.2.2 Durables (Receivers and Transmitters)
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Mexico Blood Glucose Monitoring Market Size FAQs
How big is the Mexico Blood Glucose Monitoring Market?
The Mexico Blood Glucose Monitoring Market size is expected to reach USD 357.74 million in 2024 and grow at a CAGR of 8.70% to reach USD 542.90 million by 2029.
What is the current Mexico Blood Glucose Monitoring Market size?
In 2024, the Mexico Blood Glucose Monitoring Market size is expected to reach USD 357.74 million.
