The glucose monitoring device market in Latin America is expected to reach USD 0.40 billion by 2027 from USD 0.29 billion in 2022, hiking at a CAGR of 6.96% between 2022 to 2027.
In Latin America, the market is mainly driven by increasing R & D in the field of Diabetes along with increasing awareness about disease care. But still, there is a class of people with low medical literacy rates due to which the market growth is constrained.
Blood glucose monitoring devices are used to monitor blood glucose in patients suffering from diabetes or other glucose-related diseases like glucose intolerance. Medical devices are playing an increasingly important role in diabetes. Products such as blood glucose monitors and insulin pumps have now become the cornerstone for the management of blood glucose levels.
The Latin America Glucose Monitoring devices market has witnessed major growth in the past few years and is largely driven by the increasing number of diabetic patients. The rising obese population and rapid industrialization and urbanization have also contributed to the growth of this market.
However, the high cost of diabetes care devices, the disparity in reimbursement, availability of alternative treatments, and lack of awareness inhibit the growth of this market.
This research report on the Latin American glucose monitoring device market has been segmented and sub-segmented into the following categories:
By Device Type:
Regionally, continuous glucose monitoring results help patients regulate their food intake, exercise, and medications. The device contains sensors for checking the glucose levels from the interstitial fluid. The sensor has a time span where it can be used in one place and then needs to be replaced. This device monitors the glucose levels over time, allowing the patients to identify low and high sugar levels that are more dangerous. Whereas for the self-monitoring devices people have to test and it monitors the level at that particular time and not before that.
Companies playing a promising role in the Latin American Glucose Monitoring Device Market profiled in this report are Roche Diagnostics, LifeScan, Bayer Health care, Abbott Diabetes care Inc., AgaMatrix Inc., Arkray Inc., Medtronic, DexCom Inc., Nova Biomedical Corporation, and Terumo Europe NV.
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