Market Size of Latin America Oral Anti-Diabetic Drug Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 3.25 Billion |
| Market Size (2029) | USD 3.86 Billion |
| CAGR (2024 - 2029) | 3.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Oral Anti-Diabetic Drug Market Analysis
The Latin America Oral Anti-Diabetic Drug Market size is estimated at USD 3.25 billion in 2024, and is expected to reach USD 3.86 billion by 2029, growing at a CAGR of 3.5% during the forecast period (2024-2029).
The ability to react to and adapt to populations, governments, and health systems around the world was put to the test by the COVID-19 pandemic. Brazil reported the first suspected and confirmed cases in Latin America on January 27 and February 26, respectively. The majority of Latin American nations failed to take prompt action to protect people with diabetes, which may have had a negative impact on people, health systems, and the economy. The ability to react to and adapt to populations, governments, and health systems around the world has been put to the test by the COVID-19 pandemic.
Brazil presented the first suspected and first confirmed case in Latin America. The majority of Latin American nations failed to take prompt action to protect people with diabetes, which had a negative impact on people, health systems, and the economy.
Latin American nations have a high prevalence of diabetes, and Mexico is well known for having a sizable diabetic population as a result of the region's rising Type-2 diabetes prevalence. Over the past 40 years, the prevalence of Type-2 diabetes has increased, in large part due to the steadily rising obesity incidence and genetic vulnerability to the disease. Around 10% of the population currently has diabetes. About 90% of all diabetics worldwide will have Type-2 diabetes, which is the most common type in the Latin American region.
Depending on medications, the oral-drugs sector commands a substantial market share. Oral drugs are required by more than 100 million individuals in Latin America, including all of those with Type-1 diabetes and 10% to 25% of those with Type-2 diabetes. Due to the complexity of insulin production, there aren't many businesses on the market that produce it. Because of this, there is intense competition among these makers, who always work to satisfy the needs of the patient by supplying the highest-quality Oral-Anti Diabetes Drugs.
