Brazil Diabetes Care Devices Market Forecast 2020 – 2027 Top Key Players Analysis
The market report analyses the market while considering various aspects of the market such as market size, market status, market trends, and forecast. The report also offers brief information on the competitors and specific growth opportunities while covering the key drivers of the market. The report has been categorized based on the different segments, including product type and end-user.
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Brazil Diabetes Care Devices Market drivers:
The Brazil diabetes care devices market is experiencing an upsurge in demand over the forecast period. This is mainly due to the growing awareness regarding diabetes treatment and management and the rising government’s focus on enhancing the healthcare sector. As per the IDF report, the prevalence of diabetes in Brazil amounted to 11.4%, out of the total population. The total adult population in the country is 147,183,200, while the number of diabetes cases in adults is approximately 16,780,800. Thus, the increasing number of diabetes patients in Brazil is a major factor surging the growth of the market during the forecast period. The incidence of diabetes has especially increased among older adults, women, and those with less than high school education. People with diabetes have a reduced frequency of risk behavior and a higher frequency of protective behavior than people without diabetes.
The Brazilian government is now emphasizing on supporting diabetes patients by growing the budget dedicated to funding all diabetes care devices. Furthermore, the government is also enhancing the availability and affordability of both essential medicines and supplies, along with innovative medicines and technologies. According to the Enforce Federal Law 1137/06, the government guarantees to offer distribution of essential medicines and supplies free of charge. Furthermore, the implementation of a national screening program, coupled with the education program for individuals with a high risk of diabetes and healthcare professionals to ensure access to high-quality care devices, will further fuel the demand for diabetes care devices nationwide. Rapid technological advancements in diabetes devices and the rising trend of consuming junk food are supporting market growth. On the other hand, the negative impact caused by some of the diabetes care devices will hinder the growth of the market during the forecast period.
Brazil Diabetes Care Devices Market Segmentation:
According to the report published by GMI Research, titled “Brazil Diabetes Care Devices Market,” the industry is predicted to witness the highest CAGR during the forecast period. The segmentation of the market is as follows:
By Product Type:
- Blood Glucose Monitoring Device
- Insulin Delivery Device
By End-User:
- Hospitals
- Homecare Setting
- Others
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