Summary

In South America the primary driver for the blood glucose monitor market is the increasing prevalence of diabetes. The region has witnessed a significant rise in the number of individuals with diabetes, both Type 1 and Type 2, driving the demand for glucose monitoring devices. The aging population in South America contributes to the higher incidence of diabetes. With age, the risk of developing diabetes increases, creating a substantial market for blood glucose monitoring devices, especially as diabetes management becomes crucial for elderly individuals. On-going efforts to improve healthcare infrastructure in South America contribute to better access to healthcare services, including diabetes management. Increased accessibility facilitates the adoption of blood glucose monitoring devices across different regions. Efforts to make blood glucose monitoring devices more affordable and accessible contribute to market growth. The introduction of cost-effective devices and financial assistance programs increases the availability of monitoring solutions to a broader population. Changing lifestyles, sedentary behaviours, and shifts in dietary habits contribute to the increasing incidence of diabetes in South America. The need for effective diabetes management, including regular blood glucose monitoring, becomes crucial in this context. According to the latest data from the International Diabetes Federation (IDF), an estimated 41 million people in South America had diabetes in 2021. This increase is due to a number of factors, including population growth, urbanization, and unhealthy lifestyle choices such as a high intake of sugary drinks, unhealthy fats, and processed foods. Diabetes is a chronic condition that affects the body's ability to use insulin, a hormone that regulates blood sugar levels. When insulin production is insufficient or the body doesn't respond properly to insulin, blood sugar levels can rise to dangerously high levels. This can damage various organs and tissues, leading to a number of serious health complications, including heart disease, stroke, and kidney disease, blindness, and limb amputation.

According to the research report "South America Blood Glucose Monitor Market Outlook, 2028," published by Bonafide Research, the South America Blood Glucose Monitor market is anticipated to reach market size of more than USD 1.58 Billion by 2028. Telehealth services are expanding in South America, influencing the design of blood glucose monitoring devices to support virtual consultations and remote healthcare delivery. Smart wearables with built-in glucose monitoring capabilities are becoming increasingly popular, providing convenient and discreet solutions. Manufacturers are prioritizing user-friendly designs, emphasizing intuitive interfaces and ergonomic features. Environmental sustainability considerations are also emerging, with a growing focus on eco-friendly materials and sustainable practices in device manufacturing. Educational initiatives are addressing the need for increased awareness and understanding of diabetes management. Personalized and predictive analytics features are being incorporated into devices, offering users tailored recommendations based on historical data and lifestyle factors. Wireless connectivity and cloud-based solutions enable secure data storage and access. The market sees the entry of both global players and local innovators, fostering a diverse and dynamic landscape. Pediatric diabetes management is gaining attention, leading to the development of child-friendly monitoring solutions. The expansion of telehealth services is influencing the design of blood glucose monitoring devices to support virtual consultations and remote healthcare delivery. This trend has become especially relevant in the context of the COVID-19 pandemic, driving increased interest in remote patient monitoring solutions.

Based on country the market is categorized into Brazil, Argentina and Colombia. Brazil has a large and growing population, and it is among the most populous countries in the world. With a larger population, there is a higher likelihood of a significant number of people having diabetes or being at risk of developing diabetes. The prevalence of diabetes in Brazil has been increasing, which further drives the demand for blood glucose monitoring devices. In Brazil, 15.7 million adults, or 10.5% of the population, or one in ten adults, have diabetes, according to the IDF Diabetes Atlas 2021. Brazil has the third-highest diabetes-related health spending cost in the world, at about USD 40 billion. Furthermore, 11% of the 18 million adults have impaired glucose tolerance, which puts them at a higher risk of developing type 2 diabetes. Brazil has a significant aging population. Older individuals are more prone to diabetes, and as the population ages, the demand for blood glucose monitoring devices is likely to increase. In addition, Colombia has seen an increase in diabetes prevalence, which can be attributed to lifestyle changes, urbanization, and an aging population. As diabetes becomes more prevalent, there's a higher demand for blood glucose monitoring devices. Improvements in healthcare infrastructure, including better access to healthcare facilities and trained healthcare professionals, can contribute to the growth of the market by facilitating the adoption of medical devices. As the economy grows, there may be an increase in healthcare spending and the ability of individuals to afford blood glucose monitoring devices. Economic development can positively impact the market by making these devices more accessible to a larger population.

In terms of product categories, the market is divided into Self-monitoring Devices and Continuous Blood Glucose Monitoring Devices. SMBG devices are the most common type of blood glucose monitor, and they are used to measure blood glucose levels at specific points in time. CGM devices are more advanced, and they continuously monitor blood glucose levels and provide real-time data. Self-monitoring devices, also known as traditional blood glucose monitors, are widely adopted by individuals with diabetes to measure their blood glucose levels on a regular basis. These devices typically involve the use of disposable test strips and lancets, allowing users to obtain real-time readings and make informed decisions about their diet, medication, and lifestyle choices. On the other hand, continuous blood glucose monitoring devices represent a more advanced and sophisticated approach to diabetes management. These devices offer real-time monitoring of glucose levels throughout the day, providing a continuous stream of data to users and healthcare professionals. Continuous blood glucose monitoring devices are particularly valuable for individuals who require close monitoring due to the complexity of their diabetes management or those seeking to optimize their glycemic control. This technology has the potential to enhance patient outcomes by enabling timely interventions and adjustments to treatment plans. The average price of SMBG devices in South America is around USD 25. This includes the cost of the device itself, test strips, and lancets. The average price of CGM devices in South America is around USD 150. This includes the cost of the sensor, transmitter, and receiver.


Companies covered in this report:

F. Hoffmann-La Roche AG, Abbott Laboratories, B. Braun Melsungen AG, Medtronic plc, DexCom, Inc, Bionime Corporation, Sanofi S.A., Nova Biomedical Corporation.

Considered in this report

• Geography: South America
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• South America Blood Glucose Monitoring Devices market Outlook with its value and forecast along with its segments
• Country-wise Blood Glucose Monitoring Devices market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Country covered in the report:

• Brazil
• Argentina
• Colombia

By Product

• Self-monitoring Devices
• Continuous Blood Glucose Monitoring Devices

By End User

• Hospitals
• Home Care
• Diagnostic Centers

By Indication

• Diabetes
• Pregnancy
• Cardiovascular Disorders & Hypertension
• Cancer
• Respiratory Diseases
• Movement Disorders
• Hearing Disorders
• Wound Care
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Blood Glucose Monitoring Devices industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.





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