According to the report Latin America Diabetes Care Devices Market, published by Market Data Forecast, The Market has been estimated at USD 1.686 billion in 2015 and is projected to reach USD 2.307 billion by 2020, at a CAGR of 6.47% during the forecast period from 2015 to 2020.
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Diabetes is a group of metabolic disorders, chronic condition which is associated with abnormally high level of sugar (glucose) in the blood. Latin America currently witnesses 29.6 million people affected with Diabetes which is going to reach 48.8 million by 2040.
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In Latin America, the market is mainly driven with 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 rate due to which the market growth is constrained.
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If more resources are not assigned to preventive medicine, these trends, in addition to not meeting the needs of the population, will financially collapse health systems and the patients’ pockets.
Latin America Diabetes Care Devices Market: Segmentation
- Glucose Monitoring Devices
- o Self Blood Glucose Monitoring Devices
- Glucose Meters
- Test strips
- Hemoglobin A1C testing Kits
- o Continuous Glucose Monitoring Devices
- Insulin Delivery Systems
- o Insulin Syringes
- o Insulin Pens
- o Insulin Pumps
- o Jet Injectors
- Control Solutions
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Geographically, Latin America is segmented into Brazil, Mexico and Rest of the Latin America. Brazil is the highest contributor to this market.
Effective strategies for universal coverage, with changes in the model of care and more resources allocated to detection and prevention of chronic illness can come up with health care reforms. This will help the patients in this region to purchase the medical devices without any trouble.
Also, the companies involved in the manufacturing of Diabetes Care Devices should make sure that the technology that is involved in the device is feasible, in order for the product to get sold in the market. With customized design and feasible products, there is a lot of scope for the companies in Latin American market.
Roche Diagnostics, Ascensia, Abbott Laboratories, Novo Nordisk, Johnson & Johnson, Tandem and Terumo are the top companies in Latin America Diabetes Care Devices Market.
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Reasons to access Latin America Diabetes Care Devices Market Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
- A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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