The Latin America, Middle East and Africa Diabetes Care Devices Market would witness market growth of 7.6% CAGR during the forecast period (2022-2028).
An increase in the incidence of diabetes, as well as changes in urbanization and sedentary lifestyle, is driving the diabetes care devices market growth. Furthermore, technical improvements in the field of diabetes devices, an increase in the diabetic population around the world, an increase in the demand for fast and safe diagnoses, and a rise in diabetes therapies would drive the diabetes care market in the coming years.
A significant prevalence of the geriatric population, economical healthcare facilities, cost-effective labor, and relatively lax regulatory laws are all driving diabetic device manufacturers to expand their operations. To acquire maximum market share, manufacturers are now focusing on maximizing prospects in developing economies. The advent of high-end insulin pumps and pens, as well as technological developments in diabetic devices, are driving demand for these items. To capture a significant portion of the market, leading manufacturers are focused on technological advances and the creation of innovative products.
There is a significant number of people with obesity in this region. According to the National Library of Medicine, obesity rates among adolescents and children in Gulf countries range from 5% to 14% for men and 3% to 18% for females. Obesity is on the rise in the Gulf region, with prevalence rates ranging from 2% to 55% in adult females and 1% to 30% in adult males. Obesity in the UAE is twice as high as the global norm, In Kuwait, more than half of the adult population has diabetes connected to obesity, and 75% of Egyptians are overweight owing to the desert climate. Obesity rates have been rising in the Middle East and North Africa due to poor urban design, cultural issues (behavioral standards, both indoors and outdoors), unhealthy food habits, and other causes.
The Brazil market dominated the LAMEA Diabetes Care Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $495.4 Million by 2028. The Argentina market is experiencing a CAGR of 8.2% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 7.3% during (2022 - 2028).
Based on Product, the market is segmented into Insulin Delivery Devices and Blood Glucose Monitoring Devices. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Diabetes Care Devices Market is Predict to reach $29.3 Billion by 2028, at a CAGR of 6.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include F. Hoffmann-La Roche Ltd., DexCom, Inc., Novo Nordisk A/S, Sanofi S.A., Zealand Pharma A/S, B. Braun Melsungen AG, Bayer AG, Abbott Laboratories, Ypsomed AG, Arkray, Inc.
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