Argentina Glucometer Market to be Dominated by Self-Monitoring Blood Glucose Through 2028.
The increasing concern about health benefits is
expected to drive the growth of Argentina Glucometer market in the forecast
period, 2024-2028.
According
to TechSci Research report, “Argentina
Glucometer Market
- By Region, Competition Forecast and Opportunities, 2018-2028F”, Argentina glucometer market is anticipated to grow at an impressive
rate in the forecast period, 2024-2028. This can be ascribed to the
rising demand for blood glucose monitoring with benefits such as improved
diabetes management, convenience, accuracy, reliability, and cost effectiveness.
Additionally, rapid advances in science and technology, increasing healthcare expenditure,
burgeoning aging population, and rising interest in attaining wellness, will
escalate the growth of Argentina glucometer market in the coming years.
Besides, emergence of new Freestyle Libre, One Touch Verio Reflect, contour next one and
accu-check guide will further be expected to support the Argentina
Glucometer market growth.
However, the regulation of
dietary supplements in Argentina can be complex, and there are several
challenges in terms of product registration and compliance with locals which
can slow down the growth of Argentina Glucometer market in the forecast period.
Similarly, there is high competition among many established companies and new
entrants vying for market share, which may hamper the Argentina glucometer market
growth during the forecast period. Also, where many people do not have health
insurance or have limited coverage, the cost of a glucometer and test strips
can be a significant burden. This can lead to people not monitoring their blood
glucose levels as often as they should or not using a glucometer at all, which
can have negative health consequences, further restricting the growth of Argentina glucometer market.
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The Argentina Glucometer market can be segmented by Product Type, Technique,
Distribution Channel, End User, and by Region.
Based
on Technique, the Argentina glucometer market can be segmented into Invasive and Non-Invasive. The Non-Invasive
segment dominated the market in 2022 and is expected to continue maintaining
its dominance throughout the forecast period. This can be ascribed to the non-invasive
glucometers using technology that does not require a blood sample for glucose
testing. Instead, they use techniques such as light sensors, thermal sensors,
and impedance spectroscopy to measure blood glucose levels across the region.
Based
on End User, the market can be segmented into Individuals with Diabetes, Hospitals, Clinics, and Diagnostic Centers.
The Individual with Diabetes segment is expected to dominate during the
forecast period on account of rising awareness about diabetes. Argentina has
one of the highest rates of diabetes in South America, with an estimated 5.5
million people living with the condition. Many of these individuals do not have
access to health insurance or regular medical care, which means they rely on
glucometers to monitor their blood glucose levels at home or on-the-go. Also,
the Individuals with Diabetes segment is a large and diverse market, including
people of different ages, income levels, and education levels. This means that
there is a wide range of demand for glucometers, from basic models to more
advanced devices with features such as data storage and Bluetooth connectivity.
Major
companies operating in Argentina Glucometer market are:
·
PfRoche Diagnostics,
·
Abbott
Laboratories,
·
LifeScan,
Inc.,
·
Becton,
Dickinson, & Co Ltd.,
·
Sanofi
S.A.,
·
Johnson
& Johnson Inc,
·
Ascensia
Diabetes Care Holdings AG,
·
Terumo
Corp,
·
Ypsomed
AG,
·
Trividia
Health, Inc/Argentina
in 2020, Roche introduced the Accu-Chek
Guide, a new blood glucose monitoring system that comes with an app for
tracking results and reminders for testing.
in 2020, LifeScan, a subsidiary of
Johnson & Johnson, acquired the assets of Pulsar Vascular, a medical device
company that develops and manufactures vascular access products. While this acquisition
is not directly related to the glucometer market, it demonstrates the ongoing
consolidation and expansion of medical device companies in the healthcare
sector in Argentina.
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“Argentina Glucometer is expected to
dominate the market during the forecast period on account of the rising demand
for blood glucose monitoring with medical benefits, along with growing
preference for personalized care across the region. Furthermore, trend of
personalized care is growing, particularly among individuals with diabetes-related
medical conditions, where the treatment cost is high, further contributing to the
demand for Argentina glucometer market during the forecast period. Besides,
increasing concern about healthy lifestyles and increasing expenditure on
health and wellness are further expected to create lucrative opportunities for
the market growth” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Argentina
Glucometer Market
by Product Type (Continuous Glucose
Monitoring (CGM) system, Self-Monitoring Blood Glucose (SMBG)), By Technique
(Invasive, Non-Invasive), By Distribution Channel (Retail Pharmacies, Hospital
Pharmacies, Online Sales), By End User (Individuals with Diabetes, Hospitals,
Clinics, Diagnostic Centres) and By Region and Competition”, has evaluated the future growth
potential of Argentina glucometer 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 the Argentina glucometer market.
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