LATIN AMERICA CONTINUOUS GLUCOSE MONITORING DEVICE MARKET ANALYSIS| Coherent Market Insights

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2. LATIN AMERICA CONTINUOUS GLUCOSE MONITORING DEVICE MARKET ANALYSIS Latin America Continuous Glucose Monitoring Device Market,By Component (Transmitters, Receivers, Insulin Pump, and Sensors ), by Distribution Channel (Hospitals & Clinics, Retail Channel, and Online Channel), and by Country (Mexico, Argentina, Uruguay, Brazil Colombia, Chile, Peru, and Rest of Latin America) - Size, Share, Outlook, and Opportunity Analysis, 2018-2026

3. The Latin America continuous glucose monitoring device market was valued at US$ 126.2 million in 2018 and is expected to witness a CAGR of 15.9% during the forecast period (2018– 2026). Market Growth • Major players are adopting inorganic growth strategies such as collaboration, in order to distribute their products in Latin America and increase their market share in the region. For instance, in February 2019, Senseonics Holdings, Inc. announced expansion of distribution agreement with Roche Diabetes Care by providing them with exclusive distribution rights, for distribution of implantable continuous glucose monitoring (CGM) system, in 17 countries including Brazil, Russia, India, and China as well as selected markets in the Asia Pacific and Latin American regions.

4. Moreover, increasing product launches by key players also contribute to growth of Latin America continuous glucose monitoring device market. Insulin pumps segment is expected to witness significant growth over the forecast period, owing to increasing product launches of insulin pumps for continuous glucose monitoring. For instance, in March 2019, Medtronic Plc. launched MiniMed 670G system, a self-adjusting insulin pump system for patients who have type 1 diabetes, in the U.K. Medtronic Plc. also supplies diabetic care products in Latin American countries such as Brazil, Chile, Colombia, and others. • However, high cost of continuous glucose monitoring devices is expected to hinder the Latin America continuous glucose monitoring device market growth. A CGM system is more expensive than using a standard glucose meter due to the sensors integrated in this system. These sensors have very short life span such as 7- 14 days and it requires continuous replacement. Thus, it may lead to high cost of the device throughout the treatment due to repetitive replacement, which may lower the user acceptance towards this device.

5. Country-wise Analysis • On the basis of country-wise segmentation, Latin America continuous glucose monitoring device market is segmented into Mexico, Argentina, Uruguay, Brazil, Colombia, Chile, Peru and Rest of Latin America. • Brazil is expected to grow at a faster pace and account for the largest market share in Latin America continuous glucose monitoring device market over the forecast period, owing to product launches in the countries. For instance, in February 2019, Abbott launched their continuous glucose monitoring system, FreeStyleLibreLink.

6. Mexico continuous glucose monitoring device market is expected to witness significant growth over the forecast period, owing to launch of continuous glucose monitoring devices in Mexico. For instance, in October 2017, Abbott introduced its FreeStyleLibre system in Mexico. Moreover, according to Mexican Federation of Diabetes AC, in 2017, around 9.4% of the population in Mexico was diagnosed with diabetes. • Moreover, increasing healthcare expenditure in Latin American countries such as Argentina, Colombia, Chile, and Peru is expected to boost the market growth. According to the World Health Organization (WHO), Colombia has the best and high quality healthcare system among all the Latin American countries. Moreover, increasing healthcare expenditure in Argentina is expected to aid in significant market growth. For instance, according to the World Bank, in 2014, the total health expenditure in Argentina was reported as 76.57% of the total GDP (US$ 526.32 Billion).

7. Competitive Section Key players operating in Latin America continuous glucose monitoring device market include Medtronic Plc, Abbott, F. Hoffmann-La Roche AG, Johnson & Johnson, Senseonics, Inc, Dexcom, Inc., Insulet Corporation, and Tandem Diabetes Care, Inc

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