The Argentina Continuous Glucose Monitoring Market is projected to grow at a CAGR of 13.03% during the forecast period to reach US$30.126 million by 2028, from US$12.785 million in 2021.
Continuous glucose monitoring or CGM is a wearable medical device that continuously tracks blood sugar levels for people with type 1 and type 2 diabetes. Tracking blood sugar levels is extremely essential for diabetic patients as they have to make sure when to take insulin and CGM devices to help them in determining that. CGM is a widely used technology as it is advantageous for diabetics. Studies have shown that the use of CGM devices ensures a shorter duration of hypoglycemia or a lower level of glycated haemoglobin. In Argentina, the continuous glucose monitoring market is segmented by application and end-user.
The growing prevalence of type 1 and type 2 diabetes along with rising government initiatives and programmes to educate people about diabetic health & care are some of the key determinants which are positively impacting the demand for CGM devices in this country.
However, the high price of CGM devices and the lack of reimbursement policies by the medical insurance provider in this country is obstructing the growth of the Argentinian market for continuous glucose monitoring devices during the analysis period.
During the anticipation period, the growing incidences of diabetes will support the growth of the Argentinian continuous glucose monitoring market during the projection period.
One of the primary factors driving the growth of continuous glucose monitoring devices in Argentina is the high prevalence of type 1 and type 2 diabetes among the population. According to the statistics presented by the International Diabetes Federation, 6.2 per cent of Argentinian adults, or more than 1.8 million people, have diabetes in 2021. This number is expected to reach 2.5 million by 2045. Moreover, 3.6 million people have impaired glucose tolerance in this country, which puts them at a greater risk of becoming type 2 diabetes. The number of people suffering from IGT is expected to reach 4.7 million by 2045. In Argentina, 31 per cent of those who have diabetes are undiagnosed in 2021. Those who have diabetes run the risk of significant and fatal consequences like heart attack, kidney failure, blindness, and lower limb amputation. This leads to a lower quality of life and higher medical expenditure. The prevalence of diabetes has alarmingly increased across Argentina in recent years, reaching an all-time high mostly due to lifestyle changes. Diabetes is also one of the leading causes of death in Argentina. According to IDF data, nearly 27 thousand died due to diabetes. Diabetic patients must make several adjustments throughout the day to keep their blood glucose levels within acceptable ranges. Therefore CGM devices are extremely crucial for them. The decreasing cost of CGM devices in the country is also propelling market demand.
Various policies, programs and services related to diabetes by the government to spur growth during the projection period.
To combat risk factors like obesity and emerging pandemic threats, the Argentinian government has implemented several reforms over the years to improve the distribution of doctors, create new types of service organisations, introduce new financing models, and implement a variety of quality improvement initiatives and policy frameworks in the healthcare sector. This also emphasizes chances for sustaining and growing advancements in the provision of diabetes care and the application of diabetes technologies.
Initiatives implemented by the Argentinian government are anticipated to fuel the market's expansion. In order to assure cheap pricing for devices, the Argentinian Federal Government collaborated with a large number of private businesses to use their supply chain. With the introduction of new technologies, continuous glucose monitoring devices are becoming more affordable, which is projected to boost the segment's growth throughout the forecast period.
Market Key Developments
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2021 | US$12.785 million |
| Market Size Value in 2028 | US$30.126 million |
| Growth Rate | CAGR of 13.03% from 2021 to 2028 |
| Base Year | 2021 |
| Forecast Period | 2023 – 2028 |
| Forecast Unit (Value) | USD Million |
| Segments Covered | Application and End-User |
| Companies Covered | Abbott Laboratories, Dexcom, Inc., Medtronic plc, Senseonics Holdings, Inc., Insulet Corporation, Roche Holding AG, Ascensia Diabetes Care, Tandem Diabetes Care, Inc., Echo Therapeutics |
| Customization Scope | Free report customization with purchase |
Segmentation: