Brazil Self-monitoring Blood Glucose Devices Market Insights Forecasts to 2033

• The Brazil Self-monitoring Blood Glucose Devices Market Size was valued at USD 342.5 Million in 2023.
• The Market is Growing at a CAGR of 4.66% from 2023 to 2033
• The Brazil Self-Monitoring Blood Glucose Devices Market Size is Expected to Reach USD 540 Million by 2033

The Brazil Self-monitoring Blood Glucose Devices Market is Anticipated to Reach USD 540 Million by 2033, growing at a CAGR of 4.66% from 2023 to 2033.

Market Overview

Portable electronic devices that allow individuals to check and monitor their blood glucose levels at home or anywhere known as self-monitoring blood glucose devices. It includes a glucose meter, test strips, and a blood sampling device to prick and get small blood samples. According to International Diabetes Federation data 2021, 15.734 million adults are suffering from diabetes in Brazil. This prevalence of diabetes in Brazil is fueling the self-monitoring blood glucose devices market. Continuous inflated blood glucose levels in diabetes patients can lead to life-threatening diseases such as renal, nerve, and ocular damage. Continuous monitoring of blood glucose helps in determining the effectiveness of blood glucose metabolism and allows to achievement of optimal glucose control within the body.  

Report Coverage

This research report categorizes the market for the Brazil self-monitoring blood glucose devices market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Brazil self-monitoring blood glucose devices. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Brazil self-monitoring blood glucose devices.

Driving Factors

Increasing awareness of the adverse effects of continuously inflated blood glucose levels and consumer behavior shifts from cure to preventive driving the self-monitoring blood glucose devices market. Increased prevalence of diabetes in Brazil forcing individuals to adopt self-monitoring tools for effective disease management hence propelling the self-monitoring blood glucose devices market.  Brazil government initiative to spread awareness related to diabetes care and develop healthcare infrastructure helping increase market penetration for self-monitoring blood glucose devices, hence driving the market.

 Restraining Factors

High costs associated with devices and procedures related to self-glucose monitoring devices make access difficult for low and middle-income people which restrains the market. Insufficient knowledge related to use of the self-glucose monitoring devices constrains the market.

Market Segmentation

The Brazil self-monitoring blood glucose devices market share is classified into component and region.

• The test strips segment accounted for the largest revenue share over the forecast period.

The Brazil self-monitoring blood glucose devices market is segmented by component into test strips, glucometer devices, and lancets. Among these, the test strips segment accounted for the largest revenue share over the forecast period. Test strips are small disposable strips and an important component of blood glucose testing. The expected growth of test strips over glucometer devices is higher due to use-case frequency. Brazil public health system supports in management of diabetes by distributing test strips which propel the strip segment.

• The southeast segment is expected to hold the largest market share through the forecast period.     

Based on the region, the Brazil self-monitoring blood glucose devices market is divided into southeast, northeast, south, north, and central-west. Among these, the southeast segment is expected to hold the largest market share through the forecast period. The southeast region includes major cities such as Sao Paulo and Rio de Janeiro so due to high population density wide number of diabetes patients need monitoring devices. The southeast region of Brazil has a developed economy thus higher income levels of people allowed to spend more on these devices.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Brazil self-monitoring blood glucose devices market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Abbott Laboratories
• Roche Diabetes Care
• LifeScan
• Dexcom Inc.
• Medtronic PLC
• Arkray Inc.
• Ascensia Diabetes Care
• Agamatrix Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2022, Abbott and WeightWatchers partner to support people living with diabetes in attaining their health goals.

Market Segment

This study forecasts revenue at Brazil, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Brazil self-monitoring blood glucose devices market based on the below-mentioned segments:

Brazil Self-monitoring Blood Glucose Devices Market, By Component

• Test Strips
• Glucometer Devices
• Lancets

Brazil Self-monitoring Blood Glucose Devices Market, By Region

• Southeast
• Northeast

• South
• North
• Central-west