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 & Opportunities, 2018-2028F

The Argentina Glucose Monitoring Devices Market is anticipated to witness impressive growth during the forecast period. This can be attributed to the growing demand for effective diabetes management, as poorly managed diabetes can lead to kidney disease, heart disease, and stroke. Moreover, there is an increasing demand for accurate devices and regular check-ups to manage the cost of diabetes, complications, co-morbidities, and education. According to the International Diabetes Federation (IDF), approximately 3.7 million people in Argentina have diabetes, with an estimated half of them remaining undiagnosed. Regular glucose monitoring is essential for diabetes management, and it is recommended that people with diabetes monitor their blood glucose levels regularly, as directed by their healthcare provider. This is expected to drive the growth of the Argentina Glucose Monitoring Devices Market. Healthcare spending in Argentina has been increasing in recent years, leading to increased investment in healthcare infrastructure and technology, including glucose monitoring devices. According to the World Bank, healthcare spending in Argentina increased from 8.3% of the country's GDP in 2010 to 9.8% in 2019.

Increase in Diabetic Population Drives the Market

The increasing incidence of diabetes in Argentina is one of the primary drivers of the glucose monitoring devices market. As the number of people with diabetes in Argentina increases, so does the demand for glucose-monitoring devices. These devices are essential for monitoring blood glucose levels, which are a crucial part of diabetes management. As a result, the rising diabetes population is driving the market for Glucose Monitoring Devices in Argentina. According to the World Bank's collection of development indicators, diabetes prevalence (% of the population ages 20 to 79) in Argentina was recorded at 5.4% in 2021. People with diabetes need to monitor their blood glucose levels frequently, often several times a day. This requires regular use of glucose monitoring devices, which increases the Argentina Glucose Monitoring Devices Market.

With the rise in diabetes cases, according to the International Diabetes Federation (IDF), the number of diabetes cases in 2000 was 760.9/1000, and 1806.8 in 2021 and is expected to reach 2552 in 2045. There is a growing trend towards self-monitoring of blood glucose levels. This trend is fueling the demand for glucose monitoring devices that can be used at home or on the go. The increase in diabetes cases has led to a greater emphasis on prevention and early detection. This includes regular blood glucose monitoring, which is driving the Argentina Glucose Monitoring Devices Market.

Virtual Clinics and Telemedicine Promises the Growth of the Market

Virtual clinics and telemedicine have the potential to drive the market for glucose monitoring devices in Argentina by increasing access to healthcare services, improving diabetes management, and reducing healthcare costs. As of 2021, virtual clinics and telemedicine in Argentina are still in the early stages of development and adoption, but availability is steadily increasing. The COVID-19 pandemic has also accelerated the adoption of telemedicine in Argentina, as healthcare providers have turned to virtual platforms to provide care while minimizing the risk of transmission and the growth of the Argentina Glucose Monitoring Devices market.

Virtual clinics and telemedicine allow patients to connect with healthcare providers remotely, reducing the need for in-person visits. This can save patients money on travel costs, such as gas and parking fees, and reduce the amount of time they need to take off work. Telemedicine can also reduce the need for physical healthcare facilities, such as clinics and hospitals. This can help to decrease overhead costs, including rent, utilities, and staffing, leading to overall reduced healthcare costs. Diabetes patients spent significantly more per capita on hospitalization in 2004 (USD1,628 vs. USD833) than persons without the disease. The cost savings associated with virtual clinics and telemedicine can be significant for patients, particularly those who live in remote or underserved areas or who require frequent healthcare services, thereby driving the growth of the Argentina Glucose Monitoring Devices Market.

Cost of Diabetes Drives the Market

The cost of diabetes can be a significant driver of the Argentina glucose monitoring devices market. Diabetes is a chronic condition that requires ongoing management and treatment, which can be expensive. According to the International Diabetes Federation, the total healthcare expenditure on diabetes in Argentina was estimated to be USD 7.5 billion in 2019. The cost of managing diabetes can include expenses such as medication, doctor visits, laboratory tests, and medical equipment, including glucose monitoring devices. In addition, diabetes can lead to other health complications, such as cardiovascular disease, kidney disease, and vision problems, which can further increase healthcare costs. This can be reduced through early diagnosis by glucose monitoring devices and increase the growth of Argentina's Glucose Monitoring Devices Market.

Glucose monitoring devices can help reduce healthcare costs by enabling patients to monitor their blood glucose levels more effectively and make adjustments to their treatment as needed. By using a glucose monitoring device, patients can better manage their diabetes, reducing the risk of complications and the need for more expensive medical interventions, such as hospitalizations. The increasing prevalence of diabetes in Argentina is driving demand for glucose monitoring devices. According to the International Diabetes Federation, approximately 5 million people in Argentina have diabetes, and this number is expected to increase to 6.2 million by 2045. As more people require glucose monitoring devices to manage their diabetes, the market for Glucose Monitoring Devices in Argentina is anticipated to grow.

Increasing Awareness of Diabetes Management

Growing awareness of diabetes management is a significant driver of the glucose monitoring devices market in Argentina. As people become more informed about the importance of managing their diabetes, they are increasingly seeking out tools and technologies that can help them do so effectively. Patients with diabetes are becoming more aware of the benefits of monitoring their blood glucose levels regularly and accurately and are therefore more likely to invest in glucose monitoring devices to help them do so. This may increase the demand for glucose monitoring devices in Argentina. Patients and healthcare providers are becoming more informed about the latest advancements in diabetes management, such as continuous glucose monitoring systems and connected insulin pens and are increasingly seeking out these technologies to improve their diabetes management outcomes. Growing awareness of diabetes management is a key factor driving the glucose monitoring devices market in Argentina.

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Recent Developments

• 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.
• 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.
• 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.

Market Segmentation

The Argentina Glucose Monitoring Devices Market can be segmented by product, application, end user, region and competitive landscape. Based on product, the market can be segmented into self-monitoring glucose devices, continuous glucose monitoring devices. Based on application, the market can be grouped into type 1 diabetes, type 2 diabetes, gestational diabetes. Based on end user, the market can be grouped into homecare settings, hospital, others.

Market Players

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 are some of the leading players operating in the Argentina Glucose Monitoring Devices Market.

Report Scope:

In this report, the Argentina Glucose Monitoring Devices market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Argentina Glucose Monitoring Devices Market, By Product:

o      Self-Monitoring Glucose Devices

o      Continuous Glucose Monitoring Devices

• Argentina Glucose Monitoring Devices Market, By Application:

o      Type 1 Diabetes

o      Type 2 Diabetes

o      Gestational Diabetes

• Argentina Glucose Monitoring Devices Market, By End User:

o      Homecare Settings

o      Hospitals

o      Others

• Argentina Glucose Monitoring Devices Market, By Region:

o      Pampas

o      Litoral

o      Northwest

o      Sierras

o      Cuyo

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present Argentina Glucose Monitoring Devices Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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