Market Insights Health Medical Technology Medical Devices

Diabetes Care Devices - Colombia

Colombia

The projected revenue in the Diabetes Care Devices market market in Colombia is expected to reach US$89.05m in 2024.
This indicates a positive outlook for the market in the country.
Additionally, it is anticipated that the revenue will experience a compound annual growth rate (CAGR 2024-2028) of 11.80%.
This growth rate is expected to contribute to a market volume of US$139.10m by 2028.
This signifies the potential for further expansion and development of the market in Colombia.
In a global context, it is noteworthy that the United States is projected to generate the highest revenue in the Diabetes Care Devices market market.
Specifically, it is estimated that the revenue the United States will reach US$11,560.00m in 2024.
This showcases the significant influence and market dominance of the United States in the industry.
Colombia is experiencing a growing demand for advanced diabetes care devices due to an increasing prevalence of the disease.

Key regions: United States, Spain, Germany, Europe, Japan

Market

Region

Region comparison

Currency

Methodology

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.