Mexico Diabetes Care Devices Market Size
| Study Period | 2019- 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 503 Million |
| Market Size (2029) | USD 697 Million |
| CAGR (2024 - 2029) | 5.98 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Mexico Diabetes Care Devices Market Analysis
The Mexico Diabetes Care Devices Market size is estimated at USD 503 million in 2024, and is expected to reach USD 697 million by 2029, growing at a CAGR of 5.98% during the forecast period (2024-2029).
The COVID-19 pandemic has had a notable impact on the diabetes care devices market. Diabetes is a chronic condition demanding self-management and care, which involves regular attention to food, physical activity, blood sugar monitoring, and the use of medications. People with chronic diseases such as diabetes mellitus and obesity have a worse prognosis of COVID-19. Diabetic people are twice as likely to have their comorbid conditions worsened and consequently die.
The healthcare system must be better organized for more severe cases of COVID-19 as studies suggest that inadequate glycemic control increases the risk of undesired outcomes in diabetic patients with SARS-CoV-2 infection. The prevalence of diabetes in people hospitalized with COVID-19 infection and the recognition that improved glycemic control might improve outcomes and reduce the length of stay in patients with COVID-19 have underlined the importance of diabetes care devices.
According to IDF Diabetes Atlas 2021, the prevalence of diabetes in Mexico has now reached 16.9% or one in six adults. In 2021, an estimated 14 million adults in Mexico are living with diabetes - a rise of 10% in the past two years. Additionally, 11 million adults in the country have Impaired Glucose tolerance (IGT), which places them at high risk of developing type 2 diabetes. Diabetes-related health expenditure in Mexico has reached USD 20 billion, putting it in the top ten countries or territories with the highest total health expenditure. Under half (47.5%) of people living with diabetes in the country are undiagnosed.
When diabetes is undetected or inadequately treated, people with diabetes are at risk of serious and life-threatening complications, such as heart attack, stroke, kidney failure, blindness, and lower-limb amputation. These result in reduced quality of life and higher healthcare costs and lead to a greater need for access to care. In Mexico, diabetes, especially Type 2, became a healthcare burden as it is the primary cause of death among women and the secondary cause of death among men. Obesity, sedentarism, bad eating habits, genetics, family background, and age are among the factors that lead to developing diabetes.
Thus, the aforementioned factors are set to increase the Brazil diabetes care device market's growth.
Mexico Diabetes Care Devices Market Trends
Continuous glucose monitoring segment is expected to witness highest growth rate over the forecast period
The continuous Glucose Monitoring Segment is expected to register a CAGR of about 12.4% over the forecast period.
Continuous glucose monitoring became a popular alternative to the portable finger-prick glucometers available in the market for the convenience of diabetic patients. Sensors are the most important part of continuous glucose monitoring devices. Various promising glucose-sensing technologies, from traditional electrochemical-based glucose sensors to novel optical and other electrical glucose sensors, are developed, positively impacting the market growth. The continuous glucose monitoring sensors opened new scenarios to assess, off-line, the effectiveness of individual patient therapeutic plans and stimulated the development of innovative online applications. It includes hypo/hyperglycemia alert systems and artificial pancreas closed-loop control algorithms. Continuous glucose monitoring devices are becoming cheaper with the advent of new technologies.
Pharmacies are considered an important tool for achieving better healthcare coverage in Mexico. The pharmaceutical industry integrated technology tools. Through the 'Beyond the Pills' initiative, companies complement their drug treatment with digital platforms to favor follow-up and ensure treatment continuity. Roche is one of the companies using the Beyond the Pills approach for treating diabetes. The pharmaceutical company includes a digital platform to manage diabetes called mySugr. Through it, Roche can offer accessible patient solutions within an open platform to respond to unmet needs. It aims to support people with diabetes to spend more time in their ideal glucose target range and improve their quality of life. With mySugr, users can automatically upload blood glucose data from their preferred device into the mySugr logbook app and share data with healthcare professionals and caregivers.
Furthermore, the current continuous glucose monitoring devices can either retrospectively display the trends in blood glucose levels by downloading the data or give a real-time picture of glucose levels through receiver displays. Continuous glucose monitoring devices are becoming cheaper with new technologies, like cell phone integration. It is likely to drive the segment growth during the forecast period.
Insulin cartridges in reusable pens hold the highest share in the management devices segment in the current year
Insulin cartridges in reusable pens hold the highest share of about 28.2% in the management devices segment in the current year.
Insulin cartridges in reusable pens are an upgraded version of insulin vials. Most types of insulins are manufactured in the form of cartridges, making them easily accessible. These devices include all the functional benefits of reusable pens and are cost-effective, as these cartridges are less expensive compared to disposable insulin pens in the long run. Due to the increasing demand for insulin cartridges, most insulin device manufacturers produced reusable insulin pens compatible with various insulin manufacturers' cartridges. These insulin cartridges are considered more consumer-friendly, as they are smaller and less noticeable than the classic vial-and-syringe. These devices are also more portable for consumers. Open cartridges do not need to be refrigerated, making storage easy for consumers. Thus, cartridges are the most cost-effective insulin use, as reusable pens are a one-time investment, unlike disposable pens.
Lack of health insurance deprives low-income people of access to services and puts them at risk of financial hardship. To protect the people against excessive health expenditures, Mexico implemented mechanisms such as community-based health insurance, national health insurance, and targeted public health insurance. Mexico comprises multiple health insurance providers. The Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado [State Employee's Social Security and Social Services Institute, ISSSTE] provides coverage for government employees, and the Instituto Mexico del Seguro Social [Mexico Social Security Institute, IMSS] covers for private-sector employees.
The Seguro Popular [People's Insurance] was launched to protect the working-age population against steep healthcare costs. Enrollment in the Seguro Popular is independent of health status or pre-existing illness. There is no co-payment under the type of health care received, and family contributions are determined solely by the ability to pay. The Government of Mexico partnered with numerous private companies to utilize their supply chain to ensure low device prices.
Technological development is gaining momentum in the insulin devices market. For years, several technological innovations were developed that led to the creation of new types of devices that are much less cumbersome and more comfortable for patients than traditional ones. Such advantages helped the increased adoption of these products in the Mexico market.
Mexico Diabetes Care Devices Industry Overview
The Mexico diabetes care devices market is semi-consolidated, with few significant and generic players. Manufacturers drove constant innovations to compete in the market. The major players, such as Abbott and Medtronic, underwent many mergers, acquisitions, and partnerships to establish market dominance while adhering to organic growth strategies. It is evident from the R&D spending of these companies.
Mexico Diabetes Care Devices Market Leaders
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Abbott Diabetes Care
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Medtronic PLC
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Eli Lilly and Company
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Roche Diabetes Care
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Novo Nordisk A/S
*Disclaimer: Major Players sorted in no particular order
Mexico Diabetes Care Devices Market News
- October 2022: Becton, Dickinson, and Company and Biocorp signed an agreement to use connected technology to track adherence to self-administered drug therapies, like biologics. To support biopharmaceutical companies in their efforts to improve the adherence and outcomes of injectable drugs, the two companies will integrate Biocorp's Injay technology. It is a solution designed to capture and transmit injection events using Near Field Communication technology to the BD UltraSafe Plus Passive Needle Guard used with pre-fillable syringes.
- June 2022: Abbott announced that it's developing a new bio-wearable that will continuously monitor glucose and ketone levels in one sensor. The glucose-ketone sensor will be the same size as Abbott's FreeStyle Libre 3 sensor, the world's smallest and thinnest continuous glucose monitoring sensor. It will connect to Abbott's digital ecosystem, including personal and caregiver mobile apps and cloud-based data management software for remote monitoring by healthcare professionals.
Mexico Diabetes Care Devices 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 Market Drivers
- 4.3 Market 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 Monitoring Devices
- 5.1.1 Self-monitoring Blood Glucose Devices
- 5.1.1.1 Glucometer Devices
- 5.1.1.2 Blood Glucose Test Strips
- 5.1.1.3 Lancets
- 5.1.2 Continuous Glucose Monitoring
- 5.1.2.1 Sensors
- 5.1.2.2 Durables
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5.2 Management Devices
- 5.2.1 Insulin Pump
- 5.2.1.1 Insulin Pump Device
- 5.2.1.2 Insulin Pump Reservoir
- 5.2.1.3 Infusion Set
- 5.2.2 Insulin Syringes
- 5.2.3 Cartridges in Reusable pens
- 5.2.4 Insulin Disposable Pens
- 5.2.5 Jet Injectors
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5.3 Distribution Channel
- 5.3.1 Online
- 5.3.2 Offline
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 Abbott Diabetes Care
- 7.1.2 Roche
- 7.1.3 Lifescan
- 7.1.4 Medtronic
- 7.1.5 Arkray Inc.
- 7.1.6 Ascensia Diabetes Care
- 7.1.7 Novo Nordisk A/S
- 7.1.8 Eli Lilly
- 7.1.9 Insulet Corporation
- 7.1.10 Sanofi
- 7.1.11 Rossmax International Ltd
- *List Not Exhaustive
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7.2 Company Share Analysis
- 7.2.1 Self-monitoring Blood Glucose Devices
- 7.2.1.1 Abbott Diabetes Care
- 7.2.1.2 LifeScan
- 7.2.1.3 Others
- 7.2.2 Continuous Glucose Monitoring Devices
- 7.2.2.1 Abbott Diabetes Care
- 7.2.2.2 Medtronic PLC
- 7.2.2.3 Others
- 7.2.3 Insulin Devices
- 7.2.3.1 Insulet Corporation
- 7.2.3.2 Novo Nordisk A/S
- 7.2.3.3 Others
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Mexico 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 Mexico Diabetes Care Devices Market is segmented into monitoring devices (self-monitoring blood glucose devices (glucometer devices, blood glucose test strips, and lancets), continuous glucose monitoring devices (sensors and durables)), management devices (insulin pumps (insulin pump devices, insulin pump reservoir, and infusion set), insulin syringes, cartridges in reusable pens, disposable pens, and jet injectors). The report offers the value (in USD) and volume (in units) for the above segments.
| Monitoring Devices | Self-monitoring Blood Glucose Devices | Glucometer Devices |
| Blood Glucose Test Strips | ||
| Lancets | ||
| Monitoring Devices | Continuous Glucose Monitoring | Sensors |
| Durables | ||
| Management Devices | Insulin Pump | Insulin Pump Device |
| Insulin Pump Reservoir | ||
| Infusion Set | ||
| Management Devices | Insulin Syringes | |
| Cartridges in Reusable pens | ||
| Insulin Disposable Pens | ||
| Jet Injectors | ||
| Distribution Channel | Online | |
| Offline |
Mexico Diabetes Care Devices Market Research FAQs
How big is the Mexico Diabetes Care Devices Market?
The Mexico Diabetes Care Devices Market size is expected to reach USD 503 million in 2024 and grow at a CAGR of 5.98% to reach USD 697 million by 2029.
What is the current Mexico Diabetes Care Devices Market size?
In 2024, the Mexico Diabetes Care Devices Market size is expected to reach USD 503 million.
Who are the key players in Mexico Diabetes Care Devices Market?
Abbott Diabetes Care, Medtronic PLC, Eli Lilly and Company, Roche Diabetes Care and Novo Nordisk A/S are the major companies operating in the Mexico Diabetes Care Devices Market.
What years does this Mexico Diabetes Care Devices Market cover, and what was the market size in 2023?
In 2023, the Mexico Diabetes Care Devices Market size was estimated at USD 472.92 million. The report covers the Mexico Diabetes Care Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Mexico Diabetes Care Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Mexico Diabetes Care Devices Industry Report
Statistics for the 2024 Mexico Diabetes Care Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Mexico Diabetes Care Devices analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
