MEXICO DIABETES CARE DEVICES MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

MEXICO DIABETES CARE DEVICES MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The Mexico Diabetes Care Devices Market was valued at USD 420 million in 2021, and it is expected to reach more than USD 600 million by 2027, registering a CAGR of more than 6.5% during the forecast period 2022- 2027.

The COVID-19 pandemic has had a notable impact on the diabetes care devices market. Diabetes is a chronic condition demanding self-management and care, which involves regular attention to food, physical activity, blood sugar monitoring, and the use of medications. People with chronic diseases such as diabetes mellitus and obesity have a worse prognosis of COVID-19. Diabetic people are twice as likely to have their comorbid conditions worsened and consequently die. The healthcare system must be better organized for more severe cases of COVID-19 as studies suggest that inadequate glycemic control increases the risk of undesired outcomes in diabetic patients with SARS-CoV-2 infection. The prevalence of diabetes in people hospitalized with COVID-19 infection and the recognition that improved glycemic control might improve outcomes and reduce the length of stay in patients with COVID-19 have underlined the importance of diabetes care devices.

According to IDF Diabetes Atlas 2021, the prevalence of diabetes in Mexico has now reached 16.9% or one in six adults. In 2021, an estimated 14 million adults in Mexico are living with diabetes – a rise of 10% in the past two years. Additionally, 11 million adults in the country have Impaired Glucose tolerance (IGT), which places them at high risk of developing type 2 diabetes. Diabetes-related health expenditure in Mexico has reached USD 20 billion, putting it in the top ten countries or territories with the highest total health expenditure. Under half (47.5%) of people living with diabetes in the country are undiagnosed.

When diabetes is undetected or inadequately treated, people with diabetes are at risk of serious and life-threatening complications, such as heart attack, stroke, kidney failure, blindness, and lower-limb amputation. These result in reduced quality of life and higher healthcare costs and lead to a greater need for access to care. In Mexico, diabetes, especially Type 2, became a healthcare burden as it is the primary cause of death among women and the secondary cause of death among men. Obesity, sedentarism, bad eating habits, genetics, family background, and age are among the factors that lead to developing diabetes.

Thus, the aforementioned factors are set to increase the Brazil diabetes care device market's growth.

Key Market TrendsContinuous Glucose Monitoring Segment is Expected to Witness Highest Growth Rate Over the Forecast Period

Continuous Glucose Monitoring Segment recorded more than USD 69 million in revenue in 2021, which is expected to further increase with a CAGR of more than 15.5% during the forecast period 2022-2027.

Continuous glucose monitoring sensors use glucose oxidase to detect blood sugar levels. Sensors are the most important part of continuous glucose monitoring devices. Technological advancements to improve the accuracy of the sensors are expected to drive segment growth during the forecast period. According to IDF, the rise in the number of people with type 2 diabetes in Mexico is driven by several socio-economic, demographic, environmental, and genetic factors including urbanization, decreasing levels of physical activity, and increasing levels of people being overweight and developing obesity. The prevalence of diabetes is growing among all ages in Mexico. ​Diabetes mellitus has been of wide concern with its high prevalence, resulting in increased financial burdens for clinical systems, individuals, and governments. Continuous glucose monitoring has become a popular alternative to the portable finger-prick glucometers available in the market for the convenience of diabetic patients. The COVID-19 pandemic emphasizes the need for good glycemic control in patients with diabetes, in large part because most observational studies have reported that poorly controlled diabetes is associated with a higher risk for hospitalization and death from viral illness.

Lack of health insurance deprived the poor of access to services and put them at risk of financial hardship. To protect the people against excessive health expenditures, many countries like Mexico have implemented mechanisms such as community-based health insurance, national health insurance, and targeted public health insurance. Mexico has multiple health insurance providers. The Instituto de Seguridad y Servicios Sociales de los Trabajadores del Estado [State Employee’s Social Security and Social Services Institute, ISSSTE] provides coverage for government employees, and the Instituto Mexicano del Seguro Social [Mexican Social Security Institute, IMSS] covers for private-sector employees. The Seguro Popular [People’s Insurance] was launched to protect the working-age population against steep healthcare costs. Enrolment in the Seguro Popular is independent of health status or pre-existing illness, there is no co-payment in accordance with the type of health care received, and family contributions are determined solely by the ability to pay. The Seguro Popular covers health care for many diseases, including cancer, asthma, anemia, pneumonia, and diabetes.

The various initiatives by the Mexican government are expected to drive the market’s growth. The Government of Mexico partnered with numerous private companies to utilize their supply chain (manufacturing, distribution, and retailers) to ensure low prices for devices. Furthermore, the current continuous glucose monitoring devices can either retrospectively display the trends in blood glucose levels by downloading the data or give a real-time picture of glucose levels through receiver displays. Continuous glucose monitoring devices are becoming cheaper with the advent of new technologies, like cell phone integration, which is likely to drive the segment growth during the forecast period.

Insulin Cartridges in Reusable Pens Occupied the Highest Share in the Management Devices Segment in 2021

Insulin cartridges in reusable pens occupied the highest market share of about 46% in the management devices segment in 2021.

Insulin cartridges in reusable pens currently have the highest demand among all insulin delivery devices in the Mexican market. Insulin cartridges in reusable pens are an upgraded version of insulin vials. Most types of insulins are manufactured in the form of cartridges, making them easily accessible. These devices have all the functional benefits of reusable pens and are cost-effective, as these cartridges are less expensive compared to disposable insulin pens in the long run. Due to the increasing demand for insulin cartridges, most insulin device manufacturing companies have produced reusable insulin pens that are compatible with various insulin manufacturers' cartridges. These insulin cartridges are considered more consumer-friendly, as they are smaller and less noticeable than the classic vial-and-syringe. These devices are also more portable for consumers on the go. Cartridges that are open do not need to be refrigerated, making storage very easy for consumers. Thus, cartridges are the most cost-effective way to use insulin, as reusable pens are a one-time investment, unlike disposable pens.

Pharmacies are considered an important tool to achieve better healthcare coverage in Mexico. The pharmaceutical industry has integrated technology tools. Through the “Beyond the Pills” initiative, companies complement their drug treatment with digital platforms to favor follow-up and to ensure treatment continuity. Roche is one of the companies using the Beyond the Pills approach for treating diabetes. The pharmaceutical company has a digital platform to manage diabetes called mySugr. Through it, Roche is able to offer accessible patient solutions within an open platform to respond to unmet needs. It aims to support people with diabetes to spend more time in their ideal glucose target range and improve their quality of life. With mySugr, users can automatically upload blood glucose data from their preferred device into the mySugr logbook app and share data with healthcare professionals and caregivers.

Technological development is gaining momentum in the insulin devices market. Over the years, in fact, several technological innovations have been developed that have led to the creation of new types of devices that are much less cumbersome and more comfortable for patients compared to the traditional ones. Such advantages have helped the rise in the adoption of these products in the Mexican market.

Competitive Landscape

The Mexican diabetes care devices market has been driven by manufacturers like Roche, Abbott, Novo Nordisk, Dexcom, and Medtronic to compete and struggle in the market. The major companies are partnering with each other to develop new technologies in diabetes care devices, which is likely to drive the market in the future.

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