Brazil Continuous Glucose Monitoring Market Size, Share, Opportunities, 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

Brazil Continuous Glucose Monitoring Market Size:

The Brazil Continuous Glucose Monitoring Market is projected to grow at a CAGR of 14.98% during the forecast period to reach US$134.562 million by 2028, from US$50.659 million in 2021.

Brazil Continuous Glucose Monitoring Market Trends:

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 use 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 Brazil, 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 that 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 are obstructing the growth of the Brazilian market for continuous glucose monitoring devices during the analysis period.

Brazil Continuous Glucose Monitoring Market Growth Drivers:

• During the anticipation period, the growing incidence of diabetes will support the growth of the Brazilian continuous glucose monitoring market during the projection period.

One of the primary factors driving the growth of continuous glucose monitoring devices in Brazil is the high prevalence of type 1 and type 2 diabetes among the population. According to the statistics presented by the International Diabetes Federation, 1 in every 10 Brazilian adults, or more than 15.7 million people, had diabetes in 2021. Brazil has the third-highest global diabetes-related health expenditure, with a cost of US$42.9 billion.

Moreover, 18.9 per cent of adults, or 18 million people, have impaired glucose tolerance in this country, which puts them at a greater risk of developing type 2 diabetes. In Brazil, 32 per cent of those who have diabetes are undiagnosed. 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 Brazil in recent years, reaching an all-time high mostly due to lifestyle changes. Diabetes 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 Brazilian 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 Brazilian government are anticipated to fuel the market's expansion. To ensure cheap pricing for devices, the Brazilian 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.

Brazil Continuous Glucose Monitoring Market Key Developments:

• In February 2022, the next-generation Eversense® E3 Continuous Glucose Monitoring (CGM) System was 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 60% smaller, all-in-one, discrete wearable and the quickest 30-minute sensor warm-up of any CGM on the market.

Brazil Continuous Glucose Monitoring Market Scope:

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$50.659 million
Market Size Value in 2028	US$134.562 million
Growth Rate	CAGR of 14.98% 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.
Customization Scope	Free report customization with purchase

 

Brazil Continuous Glucose Monitoring Market Segmentation:

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