The South & Central America glucose monitoring devices market is expected to grow from US$ 1,245.06 million in 2022 to US$ 2,795.05 million by 2030. It is estimated to grow at a CAGR of 10.6% from 2022 to 2030.
Based on type, the South & Central America glucose monitoring devices market is segmented into continuous glucose monitoring devices and self-glucose monitoring devices. The continuous glucose monitoring devices segment held a larger share of the South & Central America glucose monitoring devices market in 2022.
Based on application, the South & Central America glucose monitoring devices market is segmented into type 1 diabetes and type 2 diabetes. The type 2 diabetes segment held a larger share of the South & Central America glucose monitoring devices market in 2022.
Based on testing site, the South & Central America glucose monitoring devices market is segmented into fingertip testing and alternate site testing. The fingertip testing segment held a larger share of the South & Central America glucose monitoring devices market in 2022.
Based on end user, the South & Central America glucose monitoring devices market is segmented into healthcare setting and self/homecare. The self/homecare segment held a larger share of the South & Central America glucose monitoring devices market in 2022.
Based on country, the South & Central America glucose monitoring devices market is segmented int o Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America glucose monitoring devices market in 2022.
B. Braun SE, F. Hoffmann-La Roche Ltd, Medtronic Plc, Abbott Laboratories, Ypsomed Holding AG, and GE HealthCare Technologies Inc are some of the leading companies operating in the South & Central America glucose monitoring devices market.
Rapid Technological Advancements in Glucose Monitoring Devices Fuel South & Central America Glucose Monitoring Devices Market
Products with advanced technologies offer more effective benefits in diabetes treatment. As the prevalence of diabetes increases worldwide, the demand for more products with advancements also accelerates. Thus, researchers have been carrying out research activities resulting in product innovations over the years. There are many methods to deliver insulin into the body, such as needles, insulin pens, and insulin pumps. Insulin pumps are small, computerized diabetes management devices connected with a cannula under the skin to deliver a slow, continuous insulin level. The individual can control the program depending on the requirements. Optimal diabetes management depends on accurate glucose monitoring devices. The increasing advancements in glucose monitoring devices have resulted in smaller required blood volumes with improved accuracy. The ability to transfer data between the blood glucose meter and glucose monitoring devices has also been improved. The increasing advancements in blood glucose monitoring technology have improved accuracy, smaller required blood volumes, and the ability to transfer data between the blood glucose meter and glucose monitoring devices. In June 2022, Abbott announced a new bio wearable that continuously monitors glucose and ketone levels in one sensor. Thus, the technological advancements coupled with the increasing influx of new products are expected to propel the market growth over the forecast years.South & Central America Glucose Monitoring Devices Market Overview
The South & Central America glucose monitoring devices market has been segmented into the Brazil, Argentina, and Rest of South & Central America. The market growth in South & Central America is high attributed to the big pool of diabetic population in the country. South Africa holds second largest share in terms of continuous glucose monitoring owing to high prevalence of diabetes in the country. The aforementioned factors are responsible for influential growth of glucose monitoring devices market in the South & Central America region.South & Central America Glucose Monitoring Devices Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Glucose Monitoring Devices Market Segmentation
The South & Central America glucose monitoring devices market is segmented into type, application, testing site, end- user, and country.Based on type, the South & Central America glucose monitoring devices market is segmented into continuous glucose monitoring devices and self-glucose monitoring devices. The continuous glucose monitoring devices segment held a larger share of the South & Central America glucose monitoring devices market in 2022.
Based on application, the South & Central America glucose monitoring devices market is segmented into type 1 diabetes and type 2 diabetes. The type 2 diabetes segment held a larger share of the South & Central America glucose monitoring devices market in 2022.
Based on testing site, the South & Central America glucose monitoring devices market is segmented into fingertip testing and alternate site testing. The fingertip testing segment held a larger share of the South & Central America glucose monitoring devices market in 2022.
Based on end user, the South & Central America glucose monitoring devices market is segmented into healthcare setting and self/homecare. The self/homecare segment held a larger share of the South & Central America glucose monitoring devices market in 2022.
Based on country, the South & Central America glucose monitoring devices market is segmented int o Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America glucose monitoring devices market in 2022.
B. Braun SE, F. Hoffmann-La Roche Ltd, Medtronic Plc, Abbott Laboratories, Ypsomed Holding AG, and GE HealthCare Technologies Inc are some of the leading companies operating in the South & Central America glucose monitoring devices market.
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. South & Central America Glucose Monitoring Devices Market - Key Industry Dynamics
5. South & Central America Glucose Monitoring Devices Market - Market Analysis
6. Glucose Monitoring Devices Market - Revenue and Forecast to 2030 - by Type
7. Glucose Monitoring Devices Market - Revenue and Forecast to 2030 - by Application
8. Glucose Monitoring Devices Market - Revenue and Forecast to 2030 - by Testing Site
9. Glucose Monitoring Devices Market - Revenue and Forecast to 2030 - by End User
10. South & Central America Glucose Monitoring Devices Market - Revenue and Forecast to 2030 -Country Analysis
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
Executive Summary
At 10.6% CAGR, the South & Central America Glucose Monitoring Devices Market is Speculated to be Worth US$ 2795.05 million by 2030.According to this research, the South & Central America glucose monitoring devices market was valued at US$ 1,245.06 million in 2022 and is expected to reach US$ 2,795.05 million by 2030, registering a CAGR of 10.6% from 2022 to 2030. Integration of glucose monitoring devices with personal devices is a critical factor attributed to the South & Central America glucose monitoring devices market expansion.
Integration of glucose monitoring devices with smartphones and wearable devices stands as a transformative opportunity at the forefront of diabetic care. This synergy addresses the evolving needs of individuals managing diabetes by leveraging the ubiquity of smartphones and wearable technologies. By seamlessly connecting glucose monitoring devices to these personal devices, users gain real-time access to their blood glucose data, fostering highlighted awareness and engagement in self-management. This integration not only facilitates the continuous monitoring of glucose levels but also enables users to easily track trends, set alerts, and share crucial information with healthcare providers. Mobile apps associated with these devices often offer user-friendly interfaces for data interpretation, empowering individuals to make informed decisions about their dietary choices, medication adjustments, and lifestyle modifications. Moreover, the connectivity with smartphones and wearables enhances the overall experience, promoting long-term adherence to monitoring routines. Healthcare providers, in turn, can remotely access patients’ glucose data, allowing for timely interventions, personalized treatment adjustments, and improved patient outcomes. This technological convergence aligns with the broader trend of digital health, creating a more interconnected and patient-centric approach to diabetes management. As the adoption of smartphones and wearables continues to grow globally, the integration of glucose monitoring devices with these platforms represents a strategic opportunity to enhance accessibility, engagement, and the overall effectiveness of diabetic care.
On the contrary, high cost of glucose monitoring devices hampers the South & Central America glucose monitoring devices market.
Based on type, the South & Central America glucose monitoring devices market is bifurcated into continuous glucose monitoring devices and self-glucose monitoring devices. The continuous glucose monitoring devices held 54.8% share of South & Central America glucose monitoring devices market in 2022, amassing US$ 682.11 million. It is projected to garner US$ 1,561.49 million by 2030 to expand at 10.9% CAGR during 2022-2030.
Based on application, the South & Central America glucose monitoring devices market is bifurcated into type 1 diabetes and type 2 diabetes. The type 2 diabetes segment held 60.3% share of South & Central America glucose monitoring devices market in 2022, amassing US$ 750.95 million. It is projected to garner US$ 1,644.01 million by 2030 to expand at 10.3% CAGR during 2022-2030.
Based on testing site, the South & Central America glucose monitoring devices market is bifurcated into fingertip testing and alternate site testing. The fingertip testing segment held 70.3% share of South & Central America glucose monitoring devices market in 2022, amassing US$ 875.77 million. It is projected to garner US$ 2,036.65 million by 2030 to expand at 11.1% CAGR during 2022-2030.
Based on end user, the South & Central America glucose monitoring devices market is bifurcated into healthcare setting and self/homecare. The self/homecare segment held 59.5% share of South & Central America glucose monitoring devices market in 2022, amassing US$ 740.95 million. It is projected to garner US$ 1,627.11 million by 2030 to expand at 10.3% CAGR during 2022-2030.
Based on country, the South & Central America glucose monitoring devices market has been categorized into the Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 45.6% share of South & Central America glucose monitoring devices market in 2022. It was assessed at US$ 567.76 million in 2022 and is likely to hit US$ 1,319.12 million by 2030, exhibiting a CAGR of 11.1% during 2022-2030.
Key players operating the South & Central America glucose monitoring devices market are B. Braun SE, F. Hoffmann-La Roche Ltd, Medtronic Plc, Abbott Laboratories, Ypsomed Holding AG, and GE HealthCare Technologies Inc, among others.
In June-2022, Roche's Accu-Chek Inform II hospital blood glucose system was approved by Health Canada for intensive care use. The Accu-Chek Inform II solution has brought and continues to bring high-end laboratory standards to bedside glucose testing and helps ensure the safety of patients. In Oct-2022, Life Scan launched OneTouch Solutions, an eCommerce site offering a comprehensive and convenient choice of personalized wellness programs to help people manage diabetes. OneTouch Solutions is available to US consumers and offered to healthcare providers, payors, and employers as a reimbursed adjudicated option.
Companies Mentioned
- B. Braun SE
- F. Hoffmann-La Roche Ltd
- Medtronic Plc
- Abbott Laboratories
- Ypsomed Holding AG
- GE HealthCare Technologies Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 85 |
| Published | December 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value in 2022 | 1.25 Billion |
| Forecasted Market Value by 2030 | 2.8 Billion |
| Compound Annual Growth Rate | 10.6% |
| No. of Companies Mentioned | 6 |
