Latin America Meglitinide Market Size
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 3.30 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Latin America Meglitinide Market Analysis
The Latin America Meglitinide Market size is estimated at USD 0.22 billion in current year, and is expected to reach USD 0.26 million by forecast year, growing at a CAGR of 3.30% during the forecast period.
The COVID-19 pandemic has been testing the capacity to respond and adapt to populations, governments, and health systems worldwide. In the Latin America region, Brazil presented the 铿乺st suspected and the 铿乺st con铿乺med cases on January 27th and February 26th, respectively. Most Latin American countries failed to implement timely measures to protect individuals with diabetes, which may severely impact individuals, health systems, and economies.
The diabetic prevalence is high in countries in the Latin American region, and Mexico is known to have a high number of diabetic patients due to the growing prevalence of Type-2 diabetes in the country. The gradually growing obesity rate, combined with the genetic predisposition for Type-2 diabetes, is acted as a prominent driver for the increase in the Type-2 diabetic population over the last 40 years. Currently, close to 10% of the total population is living with diabetes. Diabetic patients in the Latin American region mainly suffer from Type-2 diabetes, and they accounted for close to 90% of the total diabetic population in 2021.
Meglitinides are a type of non-sulfonylurea insulin secretagogues with a fast onset and short duration of action. They stimulate glucose-sensitive first-phase insulin release, lowering the risk of hypoglycemia. Meglitinides cause the body to release more insulin in people with type 2 diabetes, who have chronically high blood sugar levels. The World Health Assembly agreed on a Resolution to strengthen diabetes prevention and control in May 2021. It recommends actions such as increasing access to diabetes medicines and health products and assessing the feasibility and potential value of establishing a web-based tool to share information relevant to market transparency for diabetes medicines and health products.
This is driving the demand for Meglitinides in Latin America, thereby driving the market in focus during the forecast period.
Latin America Meglitinide Market Trends
Rising Diabetes Prevalence in Latin America Region
In Latin America, the incidence of type 1 diabetes ranges from 0.4 to 8.3 cases per 100,000 children under the age of 15, and the prevalence of type 2 diabetes ranges from 1.2% to 8%, with higher prevalence rates in urban areas. Diabetes is expected to increase by 38% in Latin America over the next decade, compared to a 14% increase in the population. By 2025, the total number of diabetes cases is expected to more than double and surpass the number of cases in the United States, Canada, and Europe.
Factors contributing to this increase include population aging and increased life expectancy, urbanization, and lifestyle changes among Native American populations. Diabetes treatment is available to only a minority of people in many places. Furthermore, type 2 diabetes is frequently diagnosed late in the disease's progression, resulting in 10-40% of patients having chronic complications at the time of diagnosis. Hospital costs account for most direct treatment costs, and diabetes mortality has increased significantly in some areas over the last two decades.
Therefore, owing to the factors above, the growth of the studied market is anticipated in the Latin America Region.
Mexico is Expected to Dominate the Latin America Meglitinides Market over the forecast period
Among the Latin American countries, Mexico dominates around 93% of the total Latin America Meglitinide Market in the current year. This is mainly due to the high diabetes prevalence in the country. In Mexico, the Mexican health system is managed by each state and local health secretariat and is governed by the MOH. Furthermore, in many towns where the public sector cannot meet people's requirements, partnerships with private organizations have been put in place to increase access to PHC. The Mexico health system in Mexico provides coverage to medicines through several programs that include a 20% expanded access to essential medicines. Brazil offers an extensive free immunization program. Mexico faced numerous lawsuits over the last 20 years, demanding the coverage of high-cost drugs to treat diabetes and certain rare or low-prevalence diseases.
According to Universal Health Coverage 2022, The four nations, including Argentina, Brazil, Colombia, and Mexico, achieved an overall index of essential coverage of 76-77 percent, with households spending less than 25 percent of their income on health care and expanding access to primary healthcare systems and coverage for noncommunicable illnesses enhanced service coverage, while a rise in the number of qualified healthcare personnel enabled community outreach.
Meglitinides, for example, bind to the sulfonylurea receptor in beta cells (pancreatic insulin-producing cells) but at a different site than sulfonylureas. Meglitinides' interaction with the receptor is not as "tight" as sulfonylureas, resulting in a much shorter duration of action and a higher blood glucose level required before the drugs produce pancreatic insulin secretion. Currently, two meglitinides are available in the United States: repaglinide (Prandin) and nateglinide (Starlix). Both are approved for use in type 2 diabetes patients alone and combination with other oral diabetes medications. The main effect of meglitinides is to lower after-meal blood glucose levels, which results in a lower HbA1c (an indicator of blood glucose control over the previous 2-3 months).
The market is expected to grow during the forecast period due to the factors above.
Latin America Meglitinide Industry Overview
The Meglitinides market is fragmented, with manufacturers like Novo Nordisk, Glenmark, and Novartis having a global market presence and the market is highly competitive due to generic drugs manufacturers' presence.
Latin America Meglitinide Market Leaders
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Novo Nordisk
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Glenmark
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Kissei
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Novartis
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Biocon
*Disclaimer: Major Players sorted in no particular order
Latin America Meglitinide Market News
- March 2023: A Randomized, Open-Label, Controlled, Parallel-group, Multicenter Trial is being conducted to evaluate the efficacy and safety of INS068 once daily (QD) in subjects with type 2 diabetes not adequately controlled with oral antidiabetic drugs compared to insulin Glargine QD for 26+26 weeks.
- January 2023: OXJournal reviewed the effects of meglitinides as a class of oral medications for treating type 2 diabetes, especially in young adults.
Latin America Meglitinide Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Drivers
4.3 Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Intensity of Competitive Rivalry
5. Market Segmentation
5.1 Drug
5.1.1 Meglitinides
5.2 Geography
5.2.1 Brazil
5.2.2 Mexico
5.2.3 Rest of Latin America
6. MARKET INDICATORS
6.1 Type-1 Diabetes Population
6.2 Type-2 Diabetes Population
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Novo Nordisk
7.1.2 Novartis
7.1.3 Glenmark
7.1.4 Boehringer Ingelheim
7.1.5 Biocon
7.1.6 Kissei Pharmaceuticals
- *List Not Exhaustive
7.2 Company Share Analysis
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
Latin America Meglitinide Industry Segmentation
Despite not sharing a structural relationship with sulfonylureas, meglitinides are secretagogues. With a different mode of action than sulfonylureas, they cause the pancreas to secrete insulin. Repaglinide, Nateglinide, and Mitiglinide are the three readily available medicines. The Latin America Meglitinide Market is segmented by Geography (Brazil, Mexico, and the Rest of Latin America). The report offers the value (in USD) and Volume (in Unit) for the above segments. We will provide a segment-wise breakdown (Value and Volume) for all the countries covered under the Table of Contents.
| Drug | |
| Meglitinides |
| Geography | |
| Brazil | |
| Mexico | |
| Rest of Latin America |
Latin America Meglitinide Market Research FAQs
What is the current Latin America Meglitinide Market size?
The Latin America Meglitinide Market is projected to register a CAGR of 3.30% during the forecast period (2024-2029)
Who are the key players in Latin America Meglitinide Market?
Novo Nordisk, Glenmark, Kissei, Novartis and Biocon are the major companies operating in the Latin America Meglitinide Market.
What years does this Latin America Meglitinide Market cover?
The report covers the Latin America Meglitinide Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Meglitinide Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Meglitinide Industry Report
Statistics for the 2024 Latin America Meglitinide market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Latin America Meglitinide analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
