The market for Latin America Self Blood Glucose Monitoring Market is expected to The diabetic prevalence is high in the countries in the Latin American region, Mexico is known to have a high number of diabetic patients due to the growing type 2 population in the country. The gradually growing obesity rate combined with the genetic predisposition for Type 2 diabetes is acting as a prominent driver for the increase in type two diabetic population over the last 40 years. Now close to 10% of the total population are living with diabetes in one form or the other. The diabetic patients in the LATAM region majorly type 2 patients that account for close to 90% of the total diabetic population in 2017. Mainly Type1 diabetic people must and should test their blood glucose at least three times per day to take their insulin dosage. Blood glucose meter displays the results within seconds and records the data. The Blood glucose test strips revenue consist up to 85% share in Self-glucose monitoring market.
Source: Mordor Intelligence Analysis
Ease of Use Along with Quick and Accurate Readings
Most methods used to measure glucose concentrations in biotechnological settings are labor-intensive and time-consuming. The glucometers have the benefit of being fast, convenient and inexpensive, for this purpose. Methods for point-of-care glucose determination have evolved substantially since first introduced approximately 20 years ago. Small portable meters providing a quantitative measurement of glucose are now in widespread use and represent one of the unique success stories in the application of biosensor technology. The portability and the capability of these glucometers to render the results quickly put them at an advantage over conventional laboratory blood analyzers like Raman spectroscopy. This helps the patients to monitor their blood glucose on a regular basis to achieve a balanced lifestyle thus enabling them to keep their insulin levels in check. This also helps the healthcare professionals to determine the dosage patterns in the patients to suit their individual needs.
Brazil to lead the Market
The Increasing in self-blood glucose monitoring market is due to an increase in diabetes population in all age groups. The diabetic population in Latin America is expected to cross 885.42 by 2023 growing at a CAGR of 4.07%. Diabetes-related complications mostly due to poor glucose control results. The main motto of diabetes medication is to bring blood sugar levels normal. As people are now want to know about their blood glucose levels instantly to take their medication mainly type1 diabetes population. In the Brazil the type1 population is expected to grow with CAGR 5% till 2023. The meters are now portable and accurate to use. As there is an increase in technologies of Glucometers has increased the self-blood glucose monitoring market.
Abbott Diabetes Care, Arkray, Ascensia Diabetes Care, AgaMatrix, Inc., Biosense, LifeScan, iHealth Labs, Trivia Health, Walmart, Sanofi.
March 2018: FDA approved smart Glucose meter (iPhone 7, 8 and iPhone X) of Dario Health Corp.
The base year for estimation
2018 – 2023
Revenue in USD million and CAGR from 2018 – 2023
Revenue forecast and market dynamics
Reasons to Purchase this Report:
- To study current and future market outlook in Latin America
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Detailed analysis of the segment that is expected to dominate the market
- Identifying the latest developments and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet in excel
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1.1 Scope of Study
1.2 Market Definition
1.3 Executive Summary
2. Research Methodology
2.1 Study Deliverables
2.2 Study Assumptions
2.3 Research Phases
3. Market Insights
3.1 Technology Trends
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Bargaining Power of the Suppliers
3.2.2 Bargaining Power of the Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Competitive Rivalry within the Industry
4. Market Dynamics
5. Market Segmentation and Analysis
5.1 By Product type
5.1.1 Blood Glucose Meters
126.96.36.199 Blood Glucose Meters, Revenue(2012-2023)
188.8.131.52 Blood Glucose Meters, Volume(2012-2023)
5.2 By Consumable
5.2.1 Blood Glucose Test strips
184.108.40.206 Blood Glucose Test strips, Revenue(2012-2023)
220.127.116.11 Blood Glucose Test strips, Volume(2012-2023)
18.104.22.168 Lancets, Revenue(2012-2023)
22.214.171.124 Lancets, Volume(2012-2023)
6. Geographical Analysis
6.1 Latin America
126.96.36.199 Brazil, Revenue (2012-2023)
188.8.131.52 Brazil, Volume (2012-2023)
184.108.40.206 Mexico, Revenue (2012-2023)
220.127.116.11 Mexico, Volume (2012-2023)
6.1.3 Rest of Latin America
18.104.22.168 Rest of Latin America, Revenue (2012-2023)
22.214.171.124 Rest of Latin America, Volume (2012-2023)
7. Competitive Landscape
7.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
7.2 Market Share Analysis
8. Key Player Profiles
8.1 Abbott Diabetes Care
8.4 Ascensia Diabetes Care
8.5 AgaMatrix, Inc.
8.8 Ypsomed Holding AG
* Each Company Profile include overview, Revenue, Product and services, Swot, Recent Activities and strategic Analysis.