LATIN AMERICA CONTINUOUS GLUCOSE MONITORING DEVICE MARKET ANALYSIS

Market Challenges And Opportunities

Increasing initiatives by key players for distribution of continuous glucose monitoring device in Latin America is expected to boost growth of the Latin America continuous glucose monitoring device market over the forecast period.

Major players are adopting inorganic growth strategies such as distribution agreement, in order to distribute their products in Latin America and increase their market share in the region. For instance, in February 2019, Senseonics Holdings, Inc., a medical technology company, announced expansion of distribution agreement with Roche Diabetes Care, a medical equipment supplying company, by providing them with exclusive distribution rights, for distribution of implantable continuous glucose monitoring (CGM) system, in 17 countries including Brazil, Russia, India, and China, as well as selected markets in the Asia Pacific and Latin American regions.

Latin America Continuous Glucose Monitoring Device Market: Restraint

High cost of continuous glucose monitoring devices is expected to hinder the Latin America continuous glucose monitoring device market growth. A CGM system is more expensive than using a standard glucose meter due to the sensors integrated in this system. These sensors have very short life span such as 7- 14 days and it requires continuous replacement. Thus, it may lead to high cost of the device throughout the treatment due to repetitive replacement, which may lower the user acceptance towards this device.

Moreover, errors related to continuous glucose monitoring sensor is a critical aspect. Even small errors either in CGM data recalibration or in the description of BG-to-IG (blood-to-interstitium glucose) dynamics can severely affect the possibility of correctly reconstructing the statistical properties of sensor error because it requires perfect calibration and perfect knowledge of BG-to-IG dynamics.