US Diabetes Drugs And Devices Market Size (2024 - 2029)

US Diabetes Drugs and Devices Market Analysis

The US Diabetes Drugs And Devices Market size is estimated at USD 60.12 billion in 2024, and is expected to reach USD 70.24 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).

People with diabetes are at a heightened risk of experiencing serious complications from COVID-19 and face a 300% increased risk of being hospitalized compared to those without diabetes. This can result in significantly higher healthcare costs, prompting doctors and the government to urge people with diabetes to check their glucose levels regularly.

Diabetes, a persistent and potentially fatal ailment lacking a cure, affects a staggering number of individuals worldwide. According to the World Health Organization, the global population of people living with diabetes exceeds 400 million, and the expenses incurred for its treatment account for approximately 12% of the overall healthcare expenditure. This condition has rapidly spread as a worldwide epidemic, afflicting millions across the globe. The substantial expansion of the diabetes market can be attributed to several factors, including the escalating prevalence of diabetes and the implementation of numerous health awareness programs by various organizations. Presently, Type-1 diabetes accounts for approximately 10% of all diabetes cases, while the remaining majority falls under Type-2.

People with diabetes are more likely to develop severe symptoms and complications when infected with the virus. According to AACE (American Association for Clinical Endocrinology), a recent study reported that 22.2-26.9% of those hospitalized with serious illness had diabetes. Diabetes and hyperglycemia are associated with increased complications, respiratory failure, and mortality in hospitalized patients with coronavirus.

The pandemic has also highlighted opportunities to continue and expand innovation in diabetes care through virtual consultations between healthcare providers and people with diabetes and using diabetes technology. Crisis management has led to unprecedented interest in telemedicine from patients and healthcare professionals, removing many long-standing regulatory barriers. Thus, the outbreak of novel coronavirus disease (COVID-19) has fueled the growth of the diabetes care equipment market.

US Diabetes Drugs and Devices Industry Segmentation

Patients with type 1 diabetes must be given insulin because their pancreas cannot process it. To control blood sugar levels, insulin must be given several times a day, such as when eating or drinking. Many people with type 2 diabetes also need to take antidiabetic drugs. These drugs include diabetes medications and injections such as insulin. The United States diabetes care drugs and devices market is segmented by drugs (insulin, oral anti-diabetic drugs, non-insulin injectable drugs, and combination drugs) and devices (management devices such as insulin pumps, insulin pens, syringes, cartridges, and jet injectors, and monitoring devices including self-monitoring blood and continuous glucose monitoring). The report offers the value (in USD) and volume (in unit) for the above segments.