Market Trends of Brazil Self-Monitoring Blood Glucose Devices Industry
Rising Diabetes Prevalence in Brazil
The diabetes population in Brazil is expected to grow by about 2.9% over the forecast period.
According to the IDF Diabetes Atlas, 15.7 million adults, or 10.5%, were living with diabetes in Brazil. The cost of diabetes-related health expenditures in Brazil is the third-highest in the world. In addition, 18 million adults (around 11.9%) have impaired glucose tolerance, which places them at high risk of developing type-2 diabetes. 32% of people living with diabetes in Brazil are undiagnosed. Additional data on glycemic control in Brazil show that only 25% met the therapeutic goal of glycated hemoglobin (HbA1c) < 7% before the pandemic, as recommended by the Brazilian Diabetes Society (SBD).
When diabetes is undetected or inadequately treated, people with diabetes are at risk of serious and life-threatening complications, such as heart attack, stroke, kidney failure, blindness, and lower-limb amputation. These result in reduced quality of life and higher healthcare costs, leading to a greater need for access to care. Various pieces of evidence suggest that diabetes can be successfully managed, especially when detected early. Multifactorial intervention, including control of blood glucose, blood pressure, and lipids, can reduce the broad range of diabetes-related microvascular and macrovascular complications and premature mortality.
Therefore, owing to the increasing prevalence of diabetes, the studied market is anticipated to witness growth over the analysis period.
The Test Strips Segment holds the highest market share in the current year
The test strip segment held the highest market share of about 84% in the current year.
Blood glucose test strips are small, disposable strips and are a key component of blood glucose testing. When blood is placed on the test strip, it reacts with a chemical called glucose oxidase, producing gluconic acid from the glucose in the blood. At the other end of the test strip, the meter transfers a current to the strip. The test strip has electric terminals, which allow the meter to measure the current between the terminals. The current between the terminals changes depending on the level of gluconic acid that has been produced. The blood glucose meter then uses an algorithm to work out the blood glucose level based on the difference in current.
The growth in market share of test strips is expected to be higher than that of glucose meters because of the difference in use-case frequency. The glucometer is a one-time purchase; test strips, on the other hand, are a continuous investment as a test strip needs to be disposed of after one use, causing a recurrent cost impact. While an average glucose meter lasts anywhere between six months and three years, presenting a one-time cost during the same time frame,
Brazil has implemented a set of reforms over the past decade 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 and emerging threats. The Federal Government of Brazil partnered with numerous private companies to utilize their supply chain (manufacturing, distribution, and retailers), primarily to ensure low prices.
Thus, the above-mentioned factors are expected to drive the segment's growth over the forecast period.
