Latin America Diabetes Devices Market Size Worth $ 32.01 Billion By 2032 | CAGR: 7.9%

The Latin America Diabetes Devices Market size is expected to reach USD 32.01 billion by 2032, according to a new study by Polaris Market Research. The report “Latin America Diabetes Devices Market Share, Size, Trends, Industry Analysis Report, By Type (BGM Devices, Continuous Glucose Monitoring Devices, Insulin Delivery Devices); By End-use; By Distribution Channel; By Country; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Market expansion is due to factors such as the rising diabetes prevalence, increasing investment in research and development activities, and technological advancements. Further, with the increasing use of technology, manufacturers are focusing on diabetes technologies to modulate insulin delivery. For instance, continuous glucose monitoring (CGM) devices can be linked to smartphone & cloud-based technologies to overcome the cases of repeated finger pricking for glucose level monitoring.

Poorly managed diabetes has led to conditions such as blindness and kidney failure. Chronic kidney disease (CKD) is common in diabetic patients. According to the article published by the U.S. Department of Health & Human Services, type 1 and type 2 diabetes can cause kidney disease, and nearly 1 in 3 diabetic adults are estimated to have chronic kidney disease. Hence, the growing need for preventing these health conditions is a prominent factor that is likely to spur the demand for diabetes devices. Further, the rise in the occurrence of diabetes among the young population will also bolster the demand for diabetes devices during the forecast period.

• For instance, according to the report published by the Institute for Health Metrics and Evaluation, the diabetes rate in Latin America and the Caribbean is projected to increase to 11.3% by the year 2050.

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Key players operating in the market are focusing on technological advancements and new product launches to meet the increasing demand for diabetes devices. For instance, in January 2024, Medtronic plc introduced the MiniMed 780G system. The device is a disposable, all-in-one continuous glucose monitor (CGM). Rapid product adoption is due to the rapidly growing diabetes occurrence in the Latin American region. For instance, according to the statistics reported by the International Diabetes Federation (IDF), people who have diabetes will rise to 40 Mn by 2030 & 49 Mn by 2045, an increase of nearly 50%.

Latin America Diabetes Devices Market Report Highlights

• The insulin delivery devices segment will grow rapidly, attributed to the rising incidence of diabetes among the young population.
• The hospitals segment accounted for the largest market share, owing to the rapid growth of the obese population.
• The hospital pharmacies segment dominated the market due to the surge in diabetes cases across Latin American countries.
• Brazil dominated the Latin American market, owing to the rise in government initiatives and policies related to diabetes management.
• Key players include Abbott Diabetes Care, BD, Medtronic PLC, Molex, and Roche Diabetes Care.

Polaris Market Research has segmented the Latin America Diabetes Devices Market report based on type, end-use, distribution channel, and country:

Latin America Diabetes Devices, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• BGM Devices
  • Self-Monitoring Devices
  • Blood Glucose Meters
  • Testing Strips
  • Lancets
• Continuous Glucose Monitoring Devices
  • Sensors
  • Transmitters
  • Receiver
• Insulin Delivery Devices
  • Pumps
  • Pens
  • Syringes
  • Jet Injectors

Latin America Diabetes Devices, End-use Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospitals
• Diagnostic Centers
• Homecare

Latin America Diabetes Devices, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Hospital Pharmacies
• Retail Pharmacies
• Diabetes Clinics/Centers
• Online Pharmacies
• Others

Latin America Diabetes Devices, Country Outlook (Revenue - USD Billion, 2019 - 2032)

• Argentina
• Brazil
• Mexico
• Rest of Latin America

Latin America Diabetes Devices Market Report Scope