Market Trends of Mexico Diabetes Drugs and Devices Industry
The continuous Glucose Monitoring Segment is Expected to Witness the Highest Growth Rate Over the Forecast Period
Continuous blood glucose monitoring is a popular alternative to commercially available portable finger glucose meters for people with diabetes. The sensor is the most important part of any constant blood glucose monitoring device. Various promising glucose sensor technologies are being developed, ranging from traditional electrochemical glucose sensors to new optical and other electrical glucose sensors, positively impacting the market growth. Continuous blood glucose monitoring sensors have opened new scenarios for offline assessment of the efficacy of treatment regimens for individual patients, facilitating the development of innovative online applications. This includes a hypoglycemia and hyperglycemia warning system and an artificial pancreas control algorithm. With new technologies, continuous blood glucose monitoring devices are becoming increasingly inexpensive.
Pharmacies are considered essential tools for better healthcare in Mexico. The pharmaceutical industry has integrated technology tools. Through the Beyond the Pills initiative, companies complement drug treatments with digital platforms, facilitating follow-up and ensuring continuity of care. Roche is one of the companies taking a "Beyond the Pills" approach to treating diabetes. The pharmaceutical company offers a digital platform for diabetes treatment called mySugr. This will enable Roche to provide accessible patient solutions within an open platform to address unmet needs. The goal is to help people with diabetes spend more time within their ideal glycemic target range and improve their quality of life. mySugr allows users to automatically upload their blood sugar data from their preferred device to the mySugr Logbook app and share data with medical professionals and caregivers.
In addition, current continuous blood glucose monitors can retroactively check blood glucose trends by downloading data or providing real-time images of blood glucose levels via the receiver display. New technologies such as cell phone integration are making continuous glucose monitoring devices increasingly affordable. This is likely to drive the growth of the segment during the forecast period.
Rising diabetes prevalence
Lack of health insurance keeps low-income people out of service and puts them at risk of financial hardship. Mexico has introduced mechanisms such as community-based health insurance, state health insurance, and targeted public health insurance to protect people from excessive healthcare spending. There are several health insurance providers in Mexico. The Instituto de Seguridady Servicios Sociales de los Trabajadores del Estado [Institute of Social Security and Social Services for Government Employees, ISSSTE] serves civil servants. In contrast, the Instituto Mexico del Segura Social [Mexico Social Security Institute, IMSS] serves the private sector. It is intended for employees. Segro Popular [National Insurance] was created to protect the working-age population from high medical costs. Enrollment in Segro Popular is independent of any health condition or previous illness. There are no out-of-pocket costs based on the type of medical care received; family contributions are determined solely by the ability to pay. The Mexican government has worked with many private companies to leverage their supply chains and ensure low prices for their devices. Diabetes is a major public health problem and one of the extraordinary challenges facing healthcare systems across Mexico. The increasing incidence, prevalence, and progression of the disease have prompted the development of new drugs that provide additional treatment options for patients with diabetes. Market opportunities for diabetes therapeutics market players include numerous new product launches, increased international research collaboration for technological advancement, and increased public awareness of diabetes.
The increasing diabetes prevalence and the above factors will likely drive segment growth over the forecast period.
