Diabetes Care Devices - Mexico | Statista Market Forecast

Revenue in the Diabetes Care Devices market market in Mexico is anticipated to reach US$316.70m in 2024.
It is expected that revenue will exhibit an annual growth rate (CAGR 2024-2029) of 11.89%, leading to a market volume of US$555.50m by 2029.
In a global context, the highest revenue will be generated the United States, with a projected total of US$11.71bn in 2024.
In Mexico, the rising prevalence of diabetes is driving innovation and investment in advanced diabetes care devices, enhancing patient management and treatment outcomes.

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 Mexico is witnessing substantial growth, fueled by factors such as increased prevalence of diabetes, advancements in technology, and heightened awareness of diabetes management among patients and healthcare providers.

Customer preferences: Consumers in Mexico are showing a growing preference for integrated diabetes management solutions that combine monitoring devices with mobile health applications. This shift is influenced by a younger demographic increasingly reliant on technology for health management. Additionally, cultural attitudes towards preventive healthcare are evolving, prompting individuals to seek proactive approaches to diabetes care. The rise of community health initiatives and educational programs further empowers patients to engage in self-management, fostering a demand for user-friendly and connected diabetes care devices.

Trends in the market: In Mexico, the Diabetes Care Devices Market is experiencing a significant shift towards integrated solutions that merge monitoring devices with mobile health applications. This trend is driven by a tech-savvy younger population seeking efficient health management tools. The increasing focus on preventive healthcare is reshaping cultural attitudes, encouraging individuals to adopt proactive diabetes care strategies. Furthermore, community health initiatives and educational programs are promoting self-management, enhancing the demand for user-friendly, connected devices. These developments hold substantial implications for industry stakeholders, emphasizing the need for innovation and adaptability in product offerings.

Local special circumstances: In Mexico, the Diabetes Care Devices Market is shaped by a unique blend of cultural attitudes towards health and the increasing prevalence of diabetes. Traditional dietary habits and urbanization contribute to rising diabetes rates, prompting greater demand for innovative care solutions. Moreover, government initiatives aimed at improving healthcare access in underserved areas fuel the adoption of affordable, user-friendly devices. The regulatory landscape is evolving, with an emphasis on quality and safety, further influencing market dynamics and encouraging investment in advanced diabetes management technologies.

Underlying macroeconomic factors: The Diabetes Care Devices Market in Mexico is significantly influenced by macroeconomic factors such as the country's economic stability, healthcare expenditure, and demographic shifts. The growing middle class and rising disposable incomes enable increased spending on healthcare, including diabetes management devices. Additionally, government initiatives to improve healthcare infrastructure and access in rural areas drive demand for affordable diabetic care solutions. Global trends, such as the rising prevalence of diabetes and advancements in technology, further enhance market growth. Regulatory reforms aimed at ensuring device safety and efficacy also play a crucial role in fostering innovation and investment in the sector.

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.