United States Diabetes Market Report 2023: Diabetic Population to Grow at 3.26% Annually, Boosting Insulin Demand

DUBLIN, Feb. 21, 2023 /PRNewswire/ -- The "United States Diabetes Market, Size, Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to  ResearchAndMarkets.com's offering.

United States Diabetes Market is expected to reach US$ 28.27 Billion by 2028, according to the publisher. In the United States, Diabetes is the 7th leading cause of death. Diabetes is a persistent disease that happens either when the pancreas has not produced enough insulin or when the body cannot effectively and efficiently uses its insulin.

In the United States, cases of diabetes have risen dramatically during the last two decades, a fact driven by the increased prevalence of obesity and lifestyle changes. Diabetes ranks among the fast-growing chronic diseases in the United States. About 1.75 Million U.S. citizens are diagnosed with diabetes every year. Diabetes and pre-diabetes are leading public health concerns across the United States. About 37.3 Million Americans have diabetes, according to the CDC.

United States Diabetes Population is expected to grow with a CAGR of 3.26% from 2022 to 2028

According to CDC, 11.3% of the U.S. population has diabetes. There are mainly two types of diabetes: type 1 and type 2. A lack of insulin production characterizes type 1 diabetes, and Type 2 diabetes is caused by the body's ineffective use of insulin. Type 2 is typically progressive and develops in people over age 45, but there are more and more children, teenagers, and young adults who are also developing diabetes.

It often results from excess physical inactivity and body weight. Higher than 1 in 10 adults in the United States live with type 1 or 2 diabetes. Type 2 diabetes accounts for approx 90% to 95% of all diagnosed cases of diabetes; type 1 diabetes accounts for about 5-10%. Approx. 283,000 Americans under age 20 are estimated to have been diagnosed with diabetes, nearly 0.35% of that population, according to American Diabetes Association.

Although, over time, diabetes can damage the heart, blood vessels, eyes, kidneys, and nerves and increase the risk of heart disease and stroke. Such damage can result in reduced blood and nerve damage. Type 2 diabetes is a significant public health problem in the USA, affecting over 12% of American adults and imposing considerable health and economic burden on individuals and society. In the United States, 96 million adults, more than 1 in 3, have pre-diabetes.

Growing Number of Diabetic Patients in the United States will create more demand for Insulin Market

Based on devices, United State Diabetes Market is classified into four types: Glucose Monitoring (CGM), Self-Monitoring Blood Glucose (SMBG), Insulin Pen, and Insulin Pump. SMBG Capturing the maximum share during the forecast period due to monitoring blood glucose (SMBG) can be valuable in managing diabetes mellitus. Patients with diabetes often measure their blood glucose to detect hypoglycemia and adjust insulin doses as needed.

The primary growth factors include the rising diabetic population, increasing awareness among the diabetes population, increasing spending on healthcare, active reimbursement policies, and technological advancement aimed at minimal and non-invasive testing methods, which significantly boost the market.

Besides, CGM and Insulin Pens will also dominate the market revenue of the United States during the upcoming year. CGM device is a tool that measures patients glucose levels 24 hours a day. However, Insulin pens offer the advantage of ease of administration, especially for patients with visual and dexterity issues, accuracy when administering small doses, convenience, and reduced pain. Today, about 59% of patients with diabetes use insulin pens in the U.S.

United States Diabetes Market was US$ 23.32 Billion in 2022

Most of the cost of diabetes care in the U.S, is provided by government insurance (including Medicare, Medicaid, and the military). The increasing diabetes prevalence has led the Government of the U.S. to launch diabetes prevention programs, raise awareness about its symptoms and encourage healthier lifestyle behavior among the citizens. However, technological developments in diabetes devices, such as the introduction of a high-end insulin pump and pens, propel the demand for these products, leading manufacturers to focus on technological innovations and developing advanced products which boost the market.

The U.S. Diabetes Prevention Program (DPP) clinical sequent translational studies have demonstrated that intensive lifestyle interventions focused on achieving 7% weight loss and at least 150 min per week of moderate physical activity can cut the risk of developing diabetes in half. Such interventions also improve health-related quality of life and enable some patients to reduce the need for medication.

Key Companies Analysis

The United States diabetes market is moderately fragmented, with few significant and generic players. The major players are B. Braun Melsungen AG, Eli Lilly and Company, Terumo Corporation, Becton, Dickinson (B.D.), Novo Nordisk, Ypsomed AG, Medtronic, Insulet Corporations, Abbott Laboratories, DarioHealth Crop, Dexcom, Inc, Roche Diagnostic, Tandem Diabetes Care.

In March 2022, Dexcom released G7 first in the U.K. and will expand the launch across Europe throughout 2022. Meanwhile, the CGM system is currently under review by the Food and Drug Administration for an eventual U.S. release.

In June 2022, continuous glucose monitors (CGM) were adopted among people with type 2 diabetes (T2D). However, up to 70% of CGM use is for type 1 diabetes (T1D); only 3-4% of the U.S. T2D population use CGM despite established benefits as per One Drop.

Segments Market based on Devices

1. Continuous Glucose Monitoring (CGM)
2. Self-Monitoring Blood Glucose (SMBG)
3. Insulin Pen
4. Insulin Pump

United States Diabetes Sub-Segment Analysis

1. Continuous Glucose Monitoring (CGM) - United State Food Market breakup from four viewpoints

1. Glucose Sensor Market & Forecast
2. CGM Transmitter Market & Forecast
3. CGM User
4. CGM Reimbursement

2. SMBG - United State Food Market breakup from five viewpoints

1. Test Strips Market and Forecast
2. Lancet Market and Forecast
3. Meter Market and Forecast
4. Blood Glucose (SMBG) Users
5. Blood Glucose Devices Reimbursement

3. Insulin Pen Market - United State Food Market breakup from six viewpoints

1. Disposable Insulin Pen
2. Reusable Insulin Pen
3. Smart Insulin Pen
4. Insulin Pen Needle Market
5. Insulin Pen Users
6. Reimbursement Policies

4. Insulin Pump Market - United State Food Market breakup from four viewpoints

1. Insulin Pump Market
2. Insulin Pump Users
3. Insulin Pump Products
4. Reimbursement Policies

Companies Mentioned

• B. Braun Melsungen AG
• Eli Lilly and Company
• Terumo Corporation
• Becton, Dickinson (B.D.)
• Novo Nordisk
• Ypsomed AG
• Medtronic
• Insulet Corporations
• Abbott Laboratories
• DarioHealth Crop
• Dexcom, Inc
• Roche Diagnostic
• Tandem Diabetes Care

For more information about this report visit https://www.researchandmarkets.com/r/bfqzhb-states?w=5

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