Mexico Diabetes Drugs Market Size

Mexico Diabetes Drugs Market Analysis

The Mexico Diabetes Drugs Market size is estimated at USD 1.97 billion in 2023, and is expected to reach USD 2.31 billion by 2028, growing at a CAGR of 3.30% during the forecast period (2023-2028).

Within the first year since its inception, the COVID-19 pandemic has been responsible for premature deaths, particularly among older individuals. Most people who have died of COVID-19 were affected by the co-occurrence of two or more chronic conditions in the same individual. Several studies have confirmed that chronic diseases like diabetes are associated with adverse outcomes in COVID-19 patients.

People with diabetes have more chances to get into serious complications rather than normal people. The manufacturers of diabetes drugs have taken care during COVID-19 to deliver the medications to diabetes patients with the help of local governments.

Diabetic drugs are medicines developed to stabilize and control blood glucose levels amongst people with diabetes. Diabetic drugs have been potential candidates for treating diabetic patients affected by SARS-CoV-2 infection during the COVID-19 pandemic. The prevalence of diabetes in people hospitalized with COVID-19 infection and the recognition that improved glycemic control might improve outcomes and reduce the length of stay in patients with COVID-19 have underlined the importance of diabetes care drugs.

According to IDF Diabetes Atlas 2021, the prevalence of diabetes in Mexico has now reached 16.9% or one in six adults. In 2021, an estimated 14 million adults in Mexico are living with diabetes – a rise of 10% in the past two years. Additionally, 11 million adults in the country have Impaired Glucose tolerance (IGT), which places them at high risk of developing type 2 diabetes. Diabetes-related health expenditure in Mexico has reached USD 20 billion, putting it in the top ten countries or territories with the highest total health expenditure. Under half (47.5%) of people living with diabetes in the country are undiagnosed.

When diabetes is undetected or inadequately treated, people with diabetes are at risk of serious and life-threatening complications, such as heart attack, stroke, kidney failure, blindness, and lower-limb amputation. These result in reduced quality of life and higher healthcare costs and lead to a greater need for access to care. In Mexico, diabetes, especially Type 2, became a healthcare burden as it is the primary cause of death among women and the secondary cause of death among men. Obesity, sedentarism, bad eating habits, genetics, family background, and age are among the factors that lead to developing diabetes. Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.