Mexico Blood Glucose Monitor Market Overview, 2028

Mexico Blood Glucose Monitor Market Overview, 2028

Mexico has a high prevalence of diabetes, making it a significant driver for the Blood Glucose Monitoring Devices Market. The International Diabetes Federation has reported a notable increase in diabetes cases in Mexico. The demand for monitoring devices is directly linked to the increasing number of individuals diagnosed with diabetes. Furthermore, Mexico has been working to improve its healthcare infrastructure. Enhanced healthcare facilities, better access to healthcare services, and an increasing number of trained healthcare professionals contribute to the growth of the market, as these factors support the adoption of blood glucose monitoring devices. Obesity is a significant risk factor for diabetes, and Mexico faces challenges related to rising obesity rates. The correlation between obesity and diabetes contributes to an increased need for effective blood glucose monitoring among individuals at risk or diagnosed with diabetes. Mexico has 16.9% diabetes prevalence, or one in every six persons, according to the IDF Diabetes Atlas 2021. By 2021, 14 million adults in Mexico are predicted to have diabetes, a 10% increase over the preceding two years. In addition, 11 million persons in the US have impaired glucose tolerance, or IGT, which increases their risk of type 2 diabetes. Mexico is in the top ten countries or territories in terms of total health expenditure, with diabetes-related costs surpassing USD 20 billion. Nearly half of all diabetics in the nation (47.5%) have undiagnosed diabetes. Patients with diabetes who do not receive appropriate detection or treatment run the danger of developing severe and potentially fatal consequences, including heart attacks, strokes, renal failure, blindness, and amputation of lower limbs. This results in a reduced standard of living, increased expenses for healthcare, and an increased requirement for care access.

According to the research report ""Mexico Blood Glucose Monitoring Devices Market Overview, 2028,"" published by Bonafide Research, the Mexico Blood Glucose Monitoring Devices market is anticipated to grow at more than 9% CAGR from 2023 to 2028. Developing cost-effective blood glucose monitoring devices can address accessibility issues and cater to a broader segment of the population. Affordable solutions have the potential to reach individuals with limited financial resources and contribute to better diabetes management outcomes. With the increasing adoption of telehealth services, there is an opportunity to integrate blood glucose monitoring devices with telehealth platforms. This could facilitate remote patient monitoring and virtual consultations, providing individuals with diabetes convenient access to healthcare professionals. There is an opportunity to develop or enhance digital health platforms and mobile applications that integrate with blood glucose monitoring devices. These platforms can provide users with features such as data tracking, trend analysis, and personalized insights, enhancing the overall user experience and adherence to monitoring protocols. Designing blood glucose monitoring devices that are user-friendly, comfortable, and cater to the preferences of the Mexican population presents an opportunity. Customized devices that consider cultural and lifestyle factors can enhance acceptance and adoption. Exploring opportunities to integrate blood glucose monitoring with popular wearable technologies, such as smartwatches and fitness trackers, can enhance the user experience. Wearable integrations may encourage continuous monitoring and data-sharing habits. Leveraging mobile health technologies, such as SMS alerts and mobile apps, presents an opportunity to enhance communication and engagement with individuals using blood glucose monitoring devices. Innovations in mHealth can improve adherence to monitoring routines and foster a sense of community among users.

In the Mexico Blood Glucose Monitoring Devices Market, the Self-monitoring Devices segment is poised to capture the highest market share, driven by several key factors. Self-monitoring devices, encompassing traditional blood glucose meters and test strips, are widely favored for their user-friendly nature, allowing individuals with diabetes to monitor their blood glucose levels conveniently at home. The accessibility and affordability of these devices contribute to their widespread adoption, enabling regular monitoring without the need for frequent visits to healthcare facilities. The simplicity and ease of use associated with self-monitoring devices align with the increasing trend of patient-centric healthcare, empowering individuals to take an active role in managing their diabetes. The familiarity and long-standing presence of traditional meters make them a go-to choice for many users, especially those who prefer a straightforward approach to blood glucose monitoring. Furthermore, the self-monitoring devices segment benefits from the prevalence of type 2 diabetes, which often requires routine monitoring of blood glucose levels. As lifestyle factors contribute significantly to the incidence of type 2 diabetes, individuals find self-monitoring devices instrumental in tracking and managing their condition on a day-to-day basis.

The Home Care segment is experiencing significant growth in the Mexico Blood Glucose Monitoring Devices Market, driven by various factors that underscore the increasing preference for home-based diabetes management. One of the key drivers is the rising awareness and emphasis on patient empowerment, encouraging individuals to take an active role in monitoring and controlling their blood glucose levels. The convenience and comfort offered by home care settings align with the growing trend of personalized healthcare, allowing individuals with diabetes to integrate monitoring seamlessly into their daily lives. The Home Care segment is particularly favored due to the user-friendly design of blood glucose monitoring devices, including self-monitoring tools and continuous glucose monitoring systems. These devices are often designed for easy use by individuals, providing a practical solution for regular monitoring without the need for frequent visits to healthcare facilities. This convenience is especially crucial for those with chronic conditions like diabetes, promoting adherence to monitoring routines.

Considered in this report:
• Geography: Mexico
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• Mexico Blood Glucose Monitoring Devices market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product
• Self-monitoring Devices
• Continuous Blood Glucose Monitoring Devices

By End User
• Hospitals
• Home Care
• Diagnostic Centers

By Indication
• Diabetes
• Pregnancy
• Cardiovascular Disorders & Hypertension
• Cancer
• Respiratory Diseases
• Movement Disorders
• Hearing Disorders
• Wound Care
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Blood Glucose Monitoring Devices industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.