Argentina Continuous Glucose Monitoring Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Application (Diabetic Patients, Critical Patients), And By End User Industry (Hospitals, Diagnostic Centers and Clinics, Home care) - Forecasts From 2023 To 2028

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

• In February 2022, the next-generation Eversense® E3 Continuous Glucose Monitoring (CGM) System has been approved by the U.S. Food and Drug Administration (FDA). The Eversense E3 sensor can be used for up to 6 months. Eversense® E3 is a product by Ascensia Diabetes Care, a leading provider of diabetes care services globally.
• In October 2022, Dexcom introduced the Dexcom G7, a next-generation continuous glucose monitor (CGM), for diabetics two years of age and above. The Dexcom G7 improves on the Dexcom CGM by adding new features such as a 60as % smaller, all-in-one, discrete wearable and the quickest 30-minute sensor warm-up of any CGM on the market.

Argentina Continuous Glucose Monitoring Market Scope:

Segmentation:

• By Application
  • Diabetes Patients
  • Critical Patients
• By End User
  • Hospitals
  • Diagnostic Centers & Clinics
  • Home Care 

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. ARGENTINA CONTINUOUS GLUCOSE MONITORING (CGM) MARKET, BY APPLICATION

5.1. Introduction

5.2. Diabetes Patients

5.3. Critical Patients

6. ARGENTINA CONTINUOUS GLUCOSE MONITORING (CGM) MARKET, BY END-USER INDUSTRY

6.1. Introduction

6.2. Hospitals

6.3. Diagnostic Centers & Clinics

6.4. Home Care

7. COMPETITIVE ENVIRONMENT AND ANALYSIS

7.1. Major Players and Strategy Analysis

7.2. Emerging Players and Market Lucrativeness

7.3. Mergers, Acquisitions, Agreements, and Collaborations

7.4. Vendor Competitiveness Matrix

8. COMPANY PROFILES 

8.1. Dexcom, Inc.

8.2. Abbott Laboratories

8.3. Medtronic plc

8.4. Roche Diabetes Care, Inc.

8.5. Senseonics Holdings, Inc.

8.6. Ascensia Diabetes Care

8.7. Insulet Corporation

8.8. Tandem Diabetes Care, Inc.

8.9. ECHO Therapeutics, Inc.

Abbott Laboratories

Dexcom, Inc.

Medtronic plc

Senseonics Holdings, Inc.

Insulet Corporation

Roche Holding AG

Ascensia Diabetes Care

Tandem Diabetes Care, Inc.

Echo Therapeutics