Latin America Blood Glucose Monitoring Market Size

Latin America Blood Glucose Monitoring Market Analysis

The Latin America Blood Glucose Monitoring Market size is estimated at USD 0.97 billion in 2024, and is expected to reach USD 1.41 billion by 2029, growing at a CAGR of 7.82% during the forecast period (2024-2029).

The COVID-19 pandemic has substantially impacted the Latin America Blood Glucose Monitoring 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 suggested diabetes patients should check their diabetes levels more often to be careful, which leads 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. Brazil presented the first suspected and the first confirmed case in the Latin America region. 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.

According to IDF Diabetes Atlas, 15.7 million adults, about 10.5%, had diabetes in Brazil. The cost of diabetes-related health expenditure in Brazil is the third highest in the world. In addition, 18 million adults include Impaired Glucose Tolerance, which places them at high risk of developing type 2 diabetes. Additional data on glycemic control in Brazil show that only 25% met the therapeutic goal of glycated hemoglobin (HbA1c) less than 7% before the pandemic, as recommended by the Brazilian Diabetes Society.

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