Brazil Continuous Glucose Monitoring Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 270.97 Million |
| Market Size (2029) | USD 506.00 Million |
| CAGR (2024 - 2029) | 13.30 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Continuous Glucose Monitoring Market Analysis
The Brazil Continuous Glucose Monitoring Market size is estimated at USD 270.97 million in 2024, and is expected to reach USD 506 million by 2029, growing at a CAGR of 13.30% during the forecast period (2024-2029).
People with chronic diseases such as diabetes mellitus and obesity had a worse prognosis of COVID-19. The Brazilian federal, state, and municipal authorities broadened the measures to reach more people to quickly improve the response and prevent a surge of individuals with diabetes infected by SARS-CoV-2 and acute and chronic diabetes complications.
Diabetic people were twice as likely to have their comorbid conditions worsened and consequently to die. The prevalence of diabetes in people hospitalized with COVID-19 infection and the recognition that improved glycemic control might improve outcomes and reduce the length of stay in patients with COVID-19 underlined the importance of diabetes devices such as continuous glucose monitoring devices.
Continuous glucose monitoring observes patterns in the fluctuation of blood glucose levels that occur in response to diet, exercise, medications, and or pathological processes associated with blood glucose fluctuations, such as diabetes. Unusually high or low blood glucose levels can potentially lead to acute and or chronic, life-threatening conditions. Managing diabetes to improve patient outcomes requires a complex multidisciplinary approach. Appropriate and timely monitoring of blood glucose allows the successful management of out-of-range blood glucose levels, minimizing diabetic-related health complications.
Brazil has implemented a set of reforms to improve the distribution of doctors, develop new forms of service organization, introduce new financing models, and implement a range of quality improvement initiatives and policy frameworks to overcome risk factors such as obesity. The Federal Government of Brazil partnered with numerous private companies to utilize their supply chain primarily to ensure low prices for devices, which is likely to drive market growth during the forecast period.
Brazil Continuous Glucose Monitoring Market Trends
Rising Diabetes Prevalence in Brazil is anticipated to boost the market studied
In Brazil, the diabetes population is expected to increase with a CAGR of about 2.9% over the forecast period.
According to IDF Diabetes Atlas 2021, 15.7 million adults, about 10.5%, were living with diabetes in Brazil. The cost of diabetes-related health expenditure in Brazil is the third highest in the world, at 42.9 billion USD. In addition, 18 million adults, around 11.9%, have impaired glucose tolerance, which places them at high risk of developing type 2 diabetes. Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have an increased risk of being hospitalized and, thus, incur more healthcare expenses compared to non-diabetic people. Additional data on glycaemic control in Brazil show that only 25% met the therapeutic goal of glycated hemoglobin < 7% before the pandemic, as recommended by the Brazilian Diabetes Society (SBD).
The high prevalence of diabetes is associated with a significant economic burden. The costs of diabetes are increased in patients with co-morbidities such as hypertension and hyperlipidemia and in patients who develop complications. Costs increase with an increasing number of complications. The Ministry of Health established a list of medications and supplies provided by the Brazilian Health System to patients suffering from diabetes. However, their supply is usually not sufficient or recommended for optimal patient management across cities. In Brazil, the public health system Sistema Único de Saúde has been progressively increasing the assistance available for individuals with diabetes.
Therefore, owing to the increasing diabetes prevalence and aforementioned factors, the studied market is anticipated to witness growth over the analysis period.
The Sensors Segment is Expected to Hold the Highest Share Over the Forecast Period
The sensors segment is expected to register a CAGR of 16.9% over the forecast period.
To perform continuous glucose monitoring (CGM), a small sensor is inserted into the abdomen or arm with a tiny plastic tube known as a cannula penetrating the top layer of skin. An adhesive patch holds the sensor in place to take glucose readings in interstitial fluid throughout the day. Generally, the sensors must be replaced every 7 to 14 days. A small, reusable transmitter connected to the sensor allows the system to send real-time readings wirelessly to a monitor device that displays blood glucose data. Some systems come with a dedicated monitor, and some display the information via a smartphone app.
CGM sensors have proven to be effective for patients with frequent hypoglycemic events, sensor-augmented pumps, and gestational diabetes, treated with either continuous subcutaneous insulin infusion or a multiple daily injections insulin regimen. Researchers are trying to find and develop alternatives to electrochemical-based glucose sensors and create more affordable, minimally invasive, and user-friendly CGM sensors. Optical measurement is a promising platform for glucose sensing. Some technologies have been reported with high potential in continuous glucose sensing, including spectroscopy, fluorescence, holographic technology, etc. Eversense, a CGM sensor based on fluorescence sensing developed by Senseonics company, presents a much longer lifespan in comparison with electrochemical sensors.
It is imperative that CGM devices be used alongside insulin pumps. As the trends show a higher number of diabetic patients using insulin pumps for diabetes management, it can be predicted that the number of units of CGM devices sold will also follow. Type-1 diabetic patients require continuous monitoring to keep a close watch on their glucose levels, which is likely to generate demand in the coming years. Due to the adaptability of new technology and the high prevalence of diabetes population, the market studied is expected to grow.
Brazil Continuous Glucose Monitoring Industry Overview
The Brazil continuous glucose monitoring market is consolidated, with few significant players. There have been constant innovations driven by manufacturers such as Abbott, Dexcom, Medtronic, etc., while also adhering to organic growth strategies, which is evident from the R&D spending of these companies.
Brazil Continuous Glucose Monitoring Market Leaders
-
Ascensia
-
Abbott
-
Medtronic
-
Dexcom
-
GlySens
*Disclaimer: Major Players sorted in no particular order
Brazil Continuous Glucose Monitoring Market News
- October 2023: Molex company Phillips-Medisize and Finland-based medtech company GlucoModicum have partnered on an advanced non-invasive, needle-free continuous glucose monitor (CGM).
- February 2023: Dexcom announced the launch of Dexcom G7 continuous glucose monitoring in South Africa. The Dexcom G7 includes the Dexcom share and follow features. The user of the Dexcom Follow app can also create customizable alerts and alarms. Additionally, the G7 system provides a more comprehensive view of glucose levels over time, giving people with diabetes and their healthcare providers more information to make decisions about treatment and diabetes management.
Brazil Continuous Glucose Monitoring Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Component
5.1.1 Sensors
5.1.2 Durables
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Abbott Diabetes Care
7.1.2 Dexcom Inc.
7.1.3 Medtronic PLC
7.1.4 Ascensia Diabetes Care
7.1.5 GlySens
- *List Not Exhaustive
7.2 Company Share Analysis
7.2.1 Abbott Diabetes Care
7.2.2 Dexcom Inc.
7.2.3 Medtronic PLC
7.2.4 Others
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Brazil Continuous Glucose Monitoring Industry Segmentation
Achieving optimum glycemic results can be very difficult without frequent monitoring of blood glucose levels. A continuous glucose monitor tracks blood sugar levels 24 hours a day. It collects readings automatically every five to 15 minutes and detects trends and patterns to provide a complete picture of diabetes. The Brazil continuous glucose monitoring market is segmented into components (sensors and durables (receivers and transmitters)). The report offers the value (in USD) and volume (in Units) for the above segments.
| Component | |
| Sensors | |
| Durables |
Brazil Continuous Glucose Monitoring Market Research Faqs
How big is the Brazil Continuous Glucose Monitoring Market?
The Brazil Continuous Glucose Monitoring Market size is expected to reach USD 270.97 million in 2024 and grow at a CAGR of 13.30% to reach USD 506.00 million by 2029.
What is the current Brazil Continuous Glucose Monitoring Market size?
In 2024, the Brazil Continuous Glucose Monitoring Market size is expected to reach USD 270.97 million.
Who are the key players in Brazil Continuous Glucose Monitoring Market?
Ascensia, Abbott, Medtronic, Dexcom and GlySens are the major companies operating in the Brazil Continuous Glucose Monitoring Market.
What years does this Brazil Continuous Glucose Monitoring Market cover, and what was the market size in 2023?
In 2023, the Brazil Continuous Glucose Monitoring Market size was estimated at USD 239.16 million. The report covers the Brazil Continuous Glucose Monitoring Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Brazil Continuous Glucose Monitoring Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Brazil Continuous Glucose Monitoring Industry Report
Statistics for the 2024 Brazil Continuous Glucose Monitoring market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Continuous Glucose Monitoring analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
