South America Sodium-Glucose-Cotransport-2 (SGLT2) Inhibitor - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)

The South America sodium-glucose cotransporter-2 inhibitor market size was valued at USD 0.60 billion in 2025 and is estimated to grow from USD 0.65 billion in 2026 to reach USD 0.95 billion by 2031, at a CAGR of 8.05% during the forecast period (2026-2031). This report is segmented by Drug (Dapagliflozin, Empagliflozin, Canagliflozin, Ertugliflozin, Ipragliflozin, Sotagliflozin, Others), Indication (T2DM, Heart Failure, CKD, CVD Risk, Others), Distribution Channel (Retail, Hospital, Public, Online), and Geography (Brazil, Argentina, Colombia, Chile, Peru, Rest of SA). Market Forecasts are in Value (USD).

South America Sodium-Glucose-Cotransport-2 (SGLT2) Inhibitor Market Trends and Insights

Rising Type 2 Diabetes and Cardiorenal Disease Burden

The diabetes burden provided a sustained foundation for the South American SGLT2 inhibitor market. The International Diabetes Federation reported that 35 million adults in South and Central America had diabetes in 2024, resulting in 224,000 diabetes-related deaths and USD 81 billion in related expenditure. The 30.4% undiagnosed rate highlighted a significant untreated population, while the adult diabetes population was projected to reach 52 million by 2050. Brazil had 17 million adults with diabetes, and Argentina had 4.3 million adults with diabetes and a 14% adult prevalence rate, supporting treatment expansion as more patients entered formal care pathways.

Expansion of SGLT2 Use Beyond Glycemic Control

SGLT2 inhibitors increasingly served as cardiorenal therapies beyond their role as glucose-lowering medicines. The 2024 KDIGO guideline recommended these medicines for patients with chronic kidney disease and an estimated glomerular filtration rate (eGFR) of at least 20 mL/min/1.73 m², including patients without diabetes. The International Society of Nephrology presented this approach in its 2025 SGLT2 inhibitor Cold Map, while Colombia's 2025 expert consensus identified dapagliflozin and empagliflozin as preferred options for chronic kidney disease with albuminuria of at least 200 mg/g. These recommendations expanded prescribing across endocrinology, cardiology, and nephrology, strengthening access through hospital protocols, specialist education, and diagnostic testing.

High Out-of-Pocket Cost and Uneven Reimbursement

High out-of-pocket costs continued to limit utilization outside major public coverage channels. In Argentina, price-reference mechanisms did not consistently keep pace with pharmacy costs during currency instability. Peru's 2025 essential medicines decision applied only to the public-sector framework, leaving private retail patients exposed to full medicine costs. This created varied demand patterns between subsidized public-sector and private-sector patients. Fragmented reimbursement and procurement structures further delayed access in smaller countries.

Other drivers and restraints analyzed in the detailed report include:

• Increasing Public and Private Sector Formulary Adoption
• Evidence-Based Diabetes and Heart Failure Treatment Pathways
• Urban-Rural Inequality in Specialist Diagnosis and Follow-Up

Segment Analysis

Dapagliflozin accounted for 38.56% of revenue in 2025, making it the leading molecule in the South America SGLT2 inhibitor market. Its position reflects early cardiorenal use and AstraZeneca's established access channels in Brazil and Argentina. Brazil's February 2025 Farmácia Popular decision created a subsidized volume base for eligible older adults with type 2 diabetes and cardiovascular disease. Empagliflozin held the second-largest position, supported by Boehringer Ingelheim's established Jardiance franchise. Canagliflozin has a smaller role, as dapagliflozin and empagliflozin are more embedded in public protocols and specialist practice.

Ertugliflozin is forecast to grow at a CAGR of 10.12% from 2026 to 2031. Its later entry provides scope to compete in markets where formularies for older therapies are established. Ipragliflozin and sotagliflozin address smaller cardiorenal patient groups, while sotagliflozin has a differentiated role in heart failure treatment for patients with type 2 diabetes. The market is also seeing more generic dapagliflozin products from EMS, Eurofarma, and Cristália. ANVISA's bioequivalence requirements support therapeutic quality as generic substitution expands.

Complete Report Scope:

• By Drug
  • Dapagliflozin
  • Empagliflozin
  • Canagliflozin
  • Ertugliflozin
  • Ipragliflozin
  • Sotagliflozin
  • Other SGLT2 Inhibitor Drugs
• By Indication
  • Type 2 Diabetes Mellitus
  • Heart Failure
  • Chronic Kidney Disease
  • Cardiovascular Risk Reduction
  • Other Approved Indications
• By Distribution Channel
  • Retail Pharmacies
  • Hospital Pharmacies
  • Public Health-System Pharmacies
  • Online Pharmacies
• By Geography
  • Brazil
  • Argentina
  • Colombia
  • Chile
  • Peru
  • Rest of South America

List of Companies Covered in this Report:

• Astellas Pharma
• AstraZeneca
• Biomm S.A.
• Boehringer Ingelheim
• Bristol-Myers Squibb
• Cristália Produtos Químicos Farmacêuticos Ltda.
• Dr. Reddy’s Laboratories
• Eli Lilly and Company
• EMS S.A.
• Eurofarma Laboratorios S.A.
• Glenmark Pharmaceuticals
• Hypera S.A.
• Johnson & Johnson
• Laboratorios Roemmers S.A.
• Lexicon Pharmaceuticals, Inc.
• Merck
• Novartis
• Novo Nordisk
• Sanofi
• TheracosBio, LLC

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support