Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Market size is estimated at USD 0.3 billion in current year, and is expected to reach USD 0.5 billion by forecast period, growing at a CAGR of 9% during the forecast period.

The COVID-19 pandemic has been testing the capacity to respond and adapt to populations, governments, and health systems worldwide. In the Latin America region, Brazil presented the first suspected and the first confirmed cases. Most Latin American countries failed to implement timely measures to protect individuals with diabetes, which may severely impact 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, is 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 in 2021.

The COVID-19 pandemic benefited the Sodium-Dependent Glucose Cotransporter 2 market. Diabetes weakens the immune system, which is exacerbated by COVID-19. Diabetes patients are more likely to have significant problems than non-diabetics. During COVID-19, diabetic medicine manufacturers took care to ensure that pharmaceuticals were delivered to diabetes patients with the assistance of local governments. Novo Nordisk stated that Since the outbreak of COVID-19, their commitment to patients, staff and the communities in which they operate has not changed, and they will continue provide their medicines and devices to people with diabetes and other serious chronic conditions, protect the health of their employees, and support doctors and caregivers in the fight against COVID-19 in Latin America.

Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Market Trends

Rising Diabetes Prevalence in Latin America Region

In Latin America, the incidence of type 1 diabetes ranges from 0.4 to 8.3 cases per 100,000 children under the age of 15, and the prevalence of type 2 diabetes ranges from 1.2% to 8%, with higher prevalence rates in urban areas. Diabetes is expected to increase by 38% in Latin America over the next decade, compared to a 14% increase in the population. By 2025, the total number of diabetes cases is expected to more than double and surpass the number of cases in the United States, Canada, and Europe.

Factors contributing to this increase include population aging and increased life expectancy, urbanization, and lifestyle changes among Native American populations. Diabetes treatment is available to only a minority of people in many places. Furthermore, type 2 diabetes is frequently diagnosed late in the disease's progression, resulting in 10-40% of patients having chronic complications at the time of diagnosis. Hospital costs account for most direct treatment costs, and diabetes mortality has increased significantly in some areas over the last two decades.

Therefore, owing to the factors above, the growth of the studied market is anticipated in the Latin America Region.

Mexico is Expected to Dominate the Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Market over the forecast period

Among the Latin American countries, Mexico dominates around 72% of the total Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Market in the current year. This is mainly due to the high diabetes prevalence in the country. In Mexico, the Mexican health system is managed by each state and local health secretariat and is governed by the MOH. Furthermore, in many towns where the public sector cannot meet people's requirements, partnerships with private organizations have been put in place to increase access to PHC. Brazil's healthcare system covers medicines through multiple programs, including expanding access to essential medicines by 20%. SGLT-2 inhibitors, commonly known as gliflozins, are a medication used to treat type 2 diabetes by lowering high blood glucose levels. SGLT-2 inhibitors are important in managing cardiovascular risk factors such as blood pressure, glycemia, weight, cardiac function, and anti-inflammatory action. Technological advancements have increased, leading to several modifications in the SGLT-2 inhibitors or the formulations being developed.

According to Universal Health Coverage 2022, The four nations, leading, including Argentina, Brazil, Colombia, and Mexico, achieved an overall index of essential coverage of 76-77 percent, with households spending less than 25 percent of their income on health care and expanding access to primary healthcare systems and coverage for noncommunicable illnesses enhanced service coverage, while a rise in the number of qualified healthcare personnel enabled community outreach.

Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Industry Overview

The Latin America Sodium-Glucose Cotransport-2 (SGLT-2) Inhibitor Market is highly consolidated, with a few significant manufacturers having a global market presence. The companies strengthen their market presence by getting approval in new forms.

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