Argentina Glucose Monitoring Devices Market to be Dominated by Self-Monitoring Glucose Devices through 2028
The
increasing concerns about health benefits are expected to drive the growth of the Argentina Glucose Monitoring
Devices market in the forecast period from 2024 to 2028.
According to
TechSci Research report, “Argentina Glucose Monitoring Devices Market - By
Region, Competition Forecast and Opportunities, 2018-2028,” Argentina
Glucose Monitoring Devices Market is anticipated to grow at an impressive rate
in the forecast period of 2024-2028. This can be attributed to the rising
demand for glucose monitoring devices, which offer medical benefits such as
improved blood glucose control, early detection of hypoglycemia, reduced
healthcare costs, and a growing preference for personalized diabetes management
among those facing diabetes-related issues across the country. Additionally,
rapid advances in science and technology, and increasing healthcare expenditure
will further accelerate the growth of the Argentina Glucose Monitoring Devices
market in the coming years. Moreover, the emergence of new products such as
FreeStyle Libre 2, Dexcom G7, and Glucometry is expected to support the growth
of the Argentina Glucose Monitoring Devices market.
However, the regulation of dietary supplements in Argentina can be
complex, and there is a lengthy and costly process of obtaining approvals for
new products and technologies, which can slow down the growth of the Argentina
Glucose Monitoring Devices market in the forecast period. Similarly, there is a
lot of competition with a range of international and domestic companies vying
for market share, which may hamper the growth of the Argentina Glucose
Monitoring Devices market during the forecast period. Additionally, some
devices may cause adverse effects such as skin irritation or infection, which
can impact patient safety and adherence to treatment. This can lead to
decreased patient satisfaction and mistrust of the device or brand, ultimately
impacting sales and further restricting the growth of the Argentina Glucose
Monitoring Device Market.
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Based on the
product, the Argentina Glucose Monitoring Devices market can be segmented into
Self-Monitoring Glucose Devices and Continuous Glucose Monitoring Devices. The
Self-Monitoring Glucose Devices segment dominated the market in 2022 and is
expected to maintain its dominance throughout the forecast period. This can be
attributed to the fact that these devices are designed for patients to use at
home in order to monitor their blood glucose levels regularly. They are easy to
use and provide immediate results, which is important for patients who need to
make immediate adjustments to their diabetes management plan across the country.
Based on
application, the market can be segmented into Type 1 Diabetes, Type 2 Diabetes,
and Gestational Diabetes. The Type 2 Diabetes segment is expected to dominate
during the forecast period due to it being the most common type. Type 2
diabetes is often associated with obesity, physical inactivity, and genetic
factors. There are also other subtypes of Type 2 diabetes, including monogenic
diabetes, which is caused by a single gene mutation, and secondary diabetes,
which is caused by other medical conditions or medications.
Major companies
operating in Argentina Glucose Monitoring Devices Market are:
- Abbott
Laboratories
- Roche Diagnostics
Corp
- Medtronic Inc
- Becton,
Dickinson, & Co Ltd
- Bayer Healthcare
Ltd
- Lifescan Inc
- Dexcom Inc
- Nipro Diagnostics
Corp
- Sinocare Inc
- Nova Biomedical
Corp/Argentina
In 2020, Medtronic
acquired Companion Medical, a company that develops connected insulin pen
systems. This acquisition is expected to help Medtronic expand its offerings in
the diabetes management market, including glucose monitoring devices.
In 2021, Abbott
received approval from the National Administration of Drugs, Foods, and Medical
Devices (ANMAT) in Argentina for its FreeStyle Libre 2 glucose monitoring
system. This system allows people with diabetes to continuously monitor their
glucose levels without the need for routine fingersticks.
Also in 2020,
LifeScan, a subsidiary of Johnson & Johnson, launched the OneTouch Verio
Reflect glucose monitoring system in Argentina. The system includes an app that
allows patients to track their glucose levels, insulin doses, and other
diabetes-related information on their smartphones.
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“Argentina Glucose
Monitoring Devices Market is expected to grow during the forecast period on
account of rising demand for glucose monitoring devices and growing preference
for personalized diabetes management across the country. Furthermore, the trend
of personalized glucose monitoring is growing, particularly among individuals
with diabetes-related medical conditions, where generic treatment is not
sufficient. This will further contribute to the demand for Argentina Glucose
Monitoring Devices Market during the forecast period. Besides, increasing
health concerns and increasing expenditure on health and wellness are further
expected to create lucrative opportunities for market growth," said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Argentina Glucose Monitoring Devices Market By
Product (Self-Monitoring Glucose Devices, Continuous Glucose Monitoring
Devices), By Application (Type 1 Diabetes, Type 2 Diabetes, Gestational
Diabetes), By End User (Homecare Settings, Hospital, Others) and By Region,
Competition Forecast and Opportunities, 2018-2028,” has evaluated the future
growth potential of Argentina Glucose Monitoring Devices Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Argentina Glucose Monitoring Devices Market.
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