Diabetes Care Devices - Argentina

In Argentina, the revenue in the Diabetes Care Devices market market is projected to reach US$166.80m in 2024.
The revenue is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 11.47%, which will lead to a market volume of US$287.10m by 2029.
When compared globally, the majority of the revenue is anticipated to be generated the United States, with a figure of US$11.71bn in 2024.
In Argentina, the Diabetes Care Devices market is witnessing a growing demand for innovative solutions, driven by increasing awareness and prevalence of diabetes among the population.

Definition:
The Diabetes Care Devices market, a medical technology market, includes medical devices used in the management and treatment of diabetes. These devices range from blood glucose meters and continuous glucose monitoring systems to insulin pumps, insulin pens, and other related accessories. It is important to note that the market does not include pharmaceutical products used in the treatment of diabetes, such as insulin and oral hypoglycemic agents.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B), and governments (B2G). Revenues are allocated to the country where the money is spent.

Key players in the market include Medtronic, Abbott Laboratories, and Roche Diagnostics. Further information on the key players can be found in the Market Shares boxes.

Blood glucose monitoring devices
Insulin delivery devices

Diabetes drugs
Diabetes supplements

The Diabetes Care Devices Market in Argentina is witnessing considerable growth, fueled by a surge in diabetes prevalence, increasing health awareness, and advancements in technology that enhance patient monitoring and treatment options available to consumers.

Customer preferences: In Argentina, there is a notable shift towards personalized diabetes management solutions, with consumers increasingly favoring devices that offer real-time monitoring and data analytics. The rise of mobile health applications reflects a growing preference for integrated care, allowing individuals to track their glucose levels and receive tailored insights. Additionally, cultural attitudes emphasizing preventive healthcare are driving demand for educational resources and community support networks, fostering a more proactive approach to diabetes management among diverse demographic groups.

Trends in the market: In Argentina, the Diabetes Care Devices Market is experiencing a significant trend towards advanced glucose monitoring technologies, with a surge in demand for continuous glucose monitors (CGMs) and insulin delivery systems that enhance patient autonomy. There is also an increasing integration of artificial intelligence in diabetes management tools, allowing for predictive analytics and personalized treatment recommendations. Moreover, the collaboration between tech companies and healthcare providers is fostering innovation and improving access to these devices. These developments are crucial for industry stakeholders, as they highlight a shift towards more patient-centered solutions, emphasizing the importance of adaptability and responsiveness in product offerings.

Local special circumstances: In Argentina, the Diabetes Care Devices Market is influenced by a unique combination of cultural attitudes towards health and localized healthcare challenges. The country’s diverse geography results in varying access to healthcare services, particularly in rural areas, necessitating innovative solutions like mobile health applications. Additionally, a strong emphasis on family involvement in health decisions shapes patient preferences for technology that encourages shared monitoring. Regulatory frameworks are evolving, promoting the adoption of advanced devices while ensuring affordability, which is crucial for widespread acceptance among patients.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Argentina is significantly influenced by macroeconomic factors such as national economic stability, healthcare spending, and demographic trends. The country's economic health, characterized by fluctuating inflation rates and currency volatility, impacts consumer purchasing power and healthcare investments. Additionally, government fiscal policies aimed at increasing public health budgets and subsidizing medical devices enhance accessibility. Global trends in diabetes prevalence highlight the urgent need for innovative care solutions, prompting local manufacturers to invest in advanced technologies. Furthermore, partnerships between public and private sectors are essential for driving market growth and ensuring the affordability of diabetes care devices.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.