Latin America Insulin Pens Market Size (2024 - 2029)

Latin America Insulin Pens Market Analysis

The Latin America Insulin Pens Market size is estimated at USD 0.4 billion in 2024, and is expected to reach USD 0.52 billion by 2029, growing at a CAGR of greater than 1.8% during the forecast period (2024-2029).

The COVID-19 pandemic challenged the ability of populations, governments, and health systems worldwide to respond and adjust. Unfortunately, many Latin American countries did not act swiftly enough to protect individuals with diabetes from the virus - something which could have far-reaching impacts on those individuals and healthcare systems and economies.

Diabetes is among the main vitality drawbacks of the 21st century, as per the Pan American Vitality Company (PAHO). As per the organization's data, the number of individuals suffering from that condition will arrive at 642 million by 2040. One benefit of this approach is that it lets patients communicate with a distant health services professional, bypassing the must-visit medical care facility and lowering the danger of contracting COVID-19 in this high-risk group. Diabetes impacts about 41 million individuals in Latin America and 400 million globally. This figure is expected to emerge over time, arriving at 68 million diabetics in the location by 2040.

The diabetic prevalence is elevated in countries in the Latin American region, and Mexico is known to have an elevated number of diabetic patients because of the increasing prevalence of Type-2 diabetes in the nation. The gradually increasing weight issues rate, combined with the genetic predisposition for Type-2 diabetes, has behaved as an eminent chauffeur for the boost in the Type-2 diabetic population within the last 40 duration. Currently, nearly 10 % of the complete population is suffering from diabetes. Diabetic patients in the Latin American location largely have Type-2 diabetes, accounting for nearly 90 % of the complete diabetic population in 2022.

A disposable insulin pen is a pre-filled device that should only be used once and disposed of. Reusable pens allow for the insertion of a cartridge, enabling it to be used multiple times. The needles on reusable pens must be changed periodically. Insulin Pens (disposable and reusable) are widely used by diabetic patients in many developed countries.

Latin America Insulin Pens Industry Segmentation

Diabetes patients use insulin pens to inject insulin as a vital hormone. The insulin pen contains a cartridge, a dial to measure dosage, and a disposable needle. Latin America Insulin Pens Market is segmented by product (Disposable Insulin pens and Cartridges in Reusable Pens) and Geography (Brazil, Mexico, Rest of Latin America). The report offers the value (USD) and Volume (units) for the above segments.