United States Diabetes Device Overview
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).
United States Diabetes Device Company Analysis
The major participants in the United States Diabetes Device market includes BD, Roche, Medtronic, Insulet Corporation, Abbott Laboratories, Dexcom Inc., Tandem Diabetes Care, Ypsomed AG, Novo Nordisk A/S, Eli Lilly.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.
Types - Industry is divided into 4 viewpoints:
1. Self-Monitoring Devices2. Continuous Glucose-Monitoring Devices
3. Insulin Pumps
4. Insulin Pens
End User - Industry is divided into 4 viewpoints:
1. Hospitals2. Diagnostics Centers
3. Homecare
Distribution Channel - Industry is divided into 4 viewpoints:
1. Hospital Pharmacies2. Retail Pharmacies
3. Diabetes Clinics/Centers
4. Online Pharmacies
All companies have been covered with 5 Viewpoints
1. Overviews2. Key Person
3. Recent Developments & Strategies
4. Product Portfolio & Product Launch in Last 1 Year
5. Revenue
Company Analysis
1. BD2. Roche
3. Medtronic
4. Insulet Corporation
5. Abbott Laboratories
6. Dexcom Inc.
7. Tandem Diabetes Care
8. Ypsomed AG
9. Novo Nordisk A/S
10. Eli Lilly
Key Questions Answered in Report:
1. How big is the United States Diabetes Device industry?2. What is the United States Diabetes Device industry growth rate?
3. Who are the key players in United States Diabetes Device industry?
4. What are the factors driving the United States Diabetes Device industry?
5. Which Region held the largest market share in the United States Diabetes Device industry?
6. What segments are covered in the United States Diabetes Device Market report?
Table of Contents
Companies Mentioned
- BD
- Roche
- Medtronic
- Insulet Corporation
- Abbott Laboratories
- Dexcom Inc.
- Tandem Diabetes Care
- Ypsomed AG
- Novo Nordisk A/S
- Eli Lilly
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 8.67 Billion |
| Forecasted Market Value ( USD | $ 16.25 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | United States |
| No. of Companies Mentioned | 10 |
