DUBLIN--(BUSINESS WIRE)--The "United States Diabetes Device Market Forecast Report by Types, End-user, Distribution Channel and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The United States Diabetes Device market is expected to reach US$ 8.67 Billion in 2023 to US$ 16.25 Billion by 2032, with a CAGR of 7.23% from 2024 to 2032.
The aging population, rising diabetes rates as a result of lifestyle modifications, rising obesity rates, and expensive medical expenses are all major drivers of this region's growth. In addition, the market is being driven by the application of artificial intelligence (AI) and data analytics in diabetic devices, as well as the use of smart devices.
Over the past 20 years, there has been a significant rise in the prevalence of diabetes in the United States. This increase can be attributed to changes in lifestyle and an increase in the prevalence of obesity. One of the chronic diseases with the fastest rate of growth in the US is diabetes. Every year, 1.75 million Americans are given a diabetes diagnosis. Additionally, the nation has the largest rate of obesity, which is a major contributor to type 2 diabetes.
Recent studies, according to the AACE (American Association of Clinical Endocrinologists), have revealed that 22.2-26.9% of patients hospitalized for severe condition reported having diabetes. In hospitalized coronavirus patients, diabetes and elevated glucose levels are linked to an increased risk of complications, respiratory failure, and fatality.
According to the most current report from January 2022, diabetes is still a major health problem in the US that affects a large number of people. People with diabetes make up about 34.2 million people, or 10.5% of the total population. Both diagnosed and undiagnosed cases are included in this number. Around 90-95% of all instances of diabetes that are diagnosed in the US fall into the type 2 diabetes category. Obesity, physical inactivity, and unhealthy eating habits are all strongly linked to type 2 diabetes. Type 1 diabetes still affects a large number of people, especially in children and young adults, despite being less common. About 1.6 million Americans are thought to suffer from type 1 diabetes.
Growth Drivers for the United States Diabetes Device Market
Growing Rates of Pre-Diabetes and Diabetes among Adults in the United States
Blood glucose readings over the optimal range are indicative of pre-diabetes and rising diabetes. Elevated blood glucose levels lead to a host of health problems and harm vital organs, including the heart, neurological issues, eye problems, kidneys, and eyes in the elderly. According to NIDDKD estimates, 38.4 million Americans aged 18 and older had diabetes in 2021, accounting for 11.6% of the nation's total population. Only 29.7 million of them have received a diagnosis. In addition, there are 3,52,000 adults and children under the age of 20 and 304,000 of them have type 1 diabetes.
Furthermore, the prevalence of diagnosed diabetes was highest among adults who were native to Alaska and were born in India (13.6%), then non-Hispanic whites (6.9%), Hispanics (11.7%), and non-Hispanic blacks (12.1%).
The Need for Diabetes Management Rises with the Increasing Economic Burden of Diabetes
Diabetes is becoming more and more expensive, making individual management necessary. According to estimates, the overall cost of diabetes in the United States in 2022 will be USD 412.9 billion, comprising direct medical costs to control blood glucose of USD 306.6 billion and indirect medical costs of USD 106.3 billion. The average yearly expenditure of diabetics is approximately USD 19,736; of this amount, approximately USD 12,022 is directly related to consequences from diabetes.
Almost 17% of all expenses related to diabetes are related to diabetic supplies and glucose-lowering medications. The expenses associated with indirect effects include lost productivity from early deaths (USD 32.4 billion), medication-related presenteeism (USD 35.8 billion), and decreased employment due to disability (USD 28.3 billion).
Key Questions Answered in Report:
- How big is the United States Diabetes Device industry?
- What is the United States Diabetes Device industry growth rate?
- Who are the key players in United States Diabetes Device industry?
- What are the factors driving the United States Diabetes Device industry?
- Which Region held the largest market share in the United States Diabetes Device industry?
- What segments are covered in the United States Diabetes Device Market report?
United States Diabetes Device Company News
- In October 2023, together with Phillips Medisize, GlucoModicum announced the creation of non-invasive, needle-free CGM.
- In August 2023, Roche has received approval from the US Food and Drug Administration (FDA) for their Accu-Chek Solo micropump system, an insulin-using diabetic ""patch"" pump that does not require tubing.
- In May 2023, the acquisition of EOFlow Co., a producer of wearable and disposable insulin delivery devices, was announced by Medtronic plc.
- In February 2023, Automated Glucose Control LLC (AGC), a California-based business that specialized in automated insulin delivery technology, sold its assets to Insulet Corporation.
Company Analysis
- BD
- Roche
- Medtronic
- Insulet Corporation
- Abbott Laboratories
- Dexcom Inc.
- Tandem Diabetes Care
- Ypsomed AG
- Novo Nordisk A/S
- Eli Lilly
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $8.67 Billion |
| Forecasted Market Value (USD) by 2032 | $16.25 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | United States |
Key Topics Covered:
1 Introduction
2 Research & Methodology
3 Executive Summary
4 Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5 United States Diabetes Devices Market
6 United States Diabetes Population
6.1 Type 1 Diabetes
6.2 Type 2 Diabetes
7 Market Share Analysis
7.1 By Types
7.2 By End User
7.3 By Distribution Channel
8 Types
8.1 Self-Monitoring Devices
8.1.1 Test Strips
8.1.2 Lancets
8.1.3 Blood Glucose Meters
8.2 Continuous Glucose-Monitoring Devices
8.2.1 Sensors
8.2.2 Transmitter
8.2.3 Receiver
8.3 Insulin Pumps
8.3.1 Patch Pumps
8.3.2 Tethered Pumps
8.3.3 Consumables
8.4 Insulin Pens
8.4.1 Disposable Insulin Pen
8.4.2 Reusable Insulin Pen
9 End User
9.1 Hospitals
9.2 Diagnostics Centers
9.3 Homecare
10 Distribution Channel
10.1 Hospital Pharmacies
10.2 Retail Pharmacies
10.3 Diabetes Clinics/Centers
10.4 Online Pharmacies
11 Porters Five Forces
11.1 Bargaining Power of Buyer
11.2 Bargaining Power of Supplier
11.3 Threat of New Entrants
11.4 Rivalry among Existing Competitors
11.5 Threat of Substitute Products
12 SWOT Analysis
12.1 Strengths
12.2 Weaknesses
12.3 Opportunities
12.4 Threats
13 Reimbursement Policies
13.1 CGM Devices in United States
13.2 Blood Glucose Devices in United States
13.3 Insulin Pump Products in United States
13.4 Insulin Pen in United States
14 Key Players Analysis
14.1 Overviews
14.2 Key Person
14.3 Recent Developments & Strategies
14.4 Product Portfolio & Product Launch in Last 1 Year
14.5 Revenue
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