Diabetes Care Devices - Brazil | Statista Market Forecast

Revenue in the Diabetes Care Devices market market in Brazil is projected to reach US$648.70m in 2024.
Revenue in Brazil is expected to demonstrate an annual growth rate (CAGR 2024-2029) of 12.95%, leading to a market volume of US$1.19bn by 2029.
In a global context, the majority of revenue will be generated the United States, which is expected to reach US$11.71bn in 2024.
Brazil is witnessing a significant shift towards innovative diabetes care devices, driven by increasing healthcare awareness and government initiatives aimed at improving chronic disease management.

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 Brazil is witnessing considerable growth, fueled by factors like increasing prevalence of diabetes, advancements in technology, and heightened awareness of preventive health measures among the population, enhancing patient engagement and care.

Customer preferences: In Brazil, there is a notable shift towards personalized diabetes management solutions, with consumers favoring devices that offer tailored insights and data analytics. This trend is influenced by a growing awareness of the importance of individual health metrics and the cultural emphasis on self-care. Additionally, the rise of telehealth services is reshaping patient-provider interactions, allowing for more accessible consultations and continuous support. Furthermore, younger demographics are increasingly adopting mobile apps and connected devices, reflecting a tech-savvy approach to managing diabetes.

Trends in the market: In Brazil, the Diabetes Care Devices Market is experiencing significant advancements in continuous glucose monitoring systems, with a growing preference for devices that integrate real-time data sharing with healthcare providers. There is an increasing emphasis on remote patient monitoring, allowing for proactive management of diabetes. Additionally, the integration of artificial intelligence in diabetes management apps is enhancing personalized treatment plans. These trends are pivotal for industry stakeholders, as they underline the need for innovation, partnership opportunities, and investment in digital health technologies to meet evolving consumer demands for personalized care.

Local special circumstances: In Brazil, the Diabetes Care Devices Market is shaped by a diverse population and a unique healthcare landscape. The country's vast geography poses challenges in access to healthcare, particularly in remote areas, driving demand for portable and user-friendly diabetes management devices. Culturally, there is a strong emphasis on family involvement in health decisions, influencing preferences for devices that allow shared data access among family members. Regulatory frameworks are evolving to support innovative health technologies, fostering partnerships between local and international companies to enhance diabetes care solutions tailored to Brazilian needs.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Brazil is significantly influenced by macroeconomic factors such as economic stability, healthcare expenditure, and technological investment. The nation's economic health, marked by fluctuating GDP growth and inflation rates, directly impacts consumer spending on medical devices. Fiscal policies that prioritize healthcare funding and subsidies for diabetes management contribute to market expansion. Furthermore, the rising prevalence of diabetes due to lifestyle changes and urbanization drives demand for innovative, cost-effective devices. Global trends in health technology adoption and increasing partnerships enhance the availability of advanced diabetes care solutions tailored to Brazilian consumers.

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.