Home Business Renub Research forecasts a value of US$ 28.27 Billion by 2028 for the United States Diabetes Market ⅼ Renub Research

Renub Research forecasts a value of US$ 28.27 Billion by 2028 for the United States Diabetes Market ⅼ Renub Research

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Renub Research forecasts a value of US$ 28.27 Billion by 2028 for the United States Diabetes Market ⅼ Renub Research

Contents

Renub Research has recently released a report named ” United States Diabetes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” providing a detailed industry analysis that consists of market share insights. In addition, the report covers research on competitors and areas and current advancements in the United States Diabetes Market. The United States Diabetes Market shall experience a CAGR of 3.26% by 2028. 

Diabetes is a chronic disease that influences how the body processes blood sugar. In the United States, diabetes is a prevalent health concern. According to the National Diabetes Statistics Report, 11.3% of the U.S. population, equivalent to 37.3 million individuals, have diabetes. Among them, 28.7 million people are diagnosed, including 28.5 million adults, while 8.5 million people are undiagnosed, and 23.0% of adults remain undiagnosed. Most of these are type 2 diabetes, closely linked to lifestyle factors like obesity and physical inactivity. The high generality of diabetes in the U.S. has significant health and economic consequences, including increased healthcare costs and a higher risk of complications like heart disease, kidney failure, and blindness.

Additionally, there is a growing elderly population in the United States, and diabetes is more prevalent among older adults. The Congressional Budget Office (CBO) has anticipated that, on average, 73 million people will be aged 65 or older during the period spanning from 2023 to 2053. Furthermore, advancements in diabetes treatment and management technologies, like continuous glucose monitoring systems and insulin pumps, drive the market’s growth. In addition, the increasing focus on diabetes prevention and awareness campaigns contributes to the market’s growth. Finally, government initiatives to improve diabetes care and support for research and development of diabetes treatments are also driving the growth of the United States diabetes market.

The National Diabetes Prevention Program (DPP), Medicare Diabetes Prevention Program (MDPP), National Diabetes Education Program (NDEP), American Diabetes Association (ADA), and Affordable Care Act (ACA) are government initiatives aimed at preventing or delaying the onset of type 2 diabetes, improving treatment and outcomes for people with diabetes, and expanding access to diabetes prevention, treatment, and care services. The DPP and MDPP are lifestyle change programs that prevent or delay type 2 diabetes while the NDEP seeks to improve treatment and outcomes for people with diabetes. In addition, the ADA provides information, advocacy, and support for people with diabetes, and the ACA includes provisions to improve access to diabetes prevention, treatment, and care services.

Increasing prevalence of diabetes shall drive the demand for insulin pens and CGM in the United States diabetes market

Insulin pens are preferred by patients over traditional vials and syringes as they are beneficial and offer greater accuracy in dosage. Moreover, the increasing prevalence of type 1 and type 2 diabetes in the United States has increased the demand for insulin pens. On the other hand, the CGM market is growing due to the development of advanced technology and the increasing need for continuous monitoring of glucose levels in diabetes patients.

CGMs allow patients to monitor their glucose levels in real time, giving them greater control over their diabetes management and reducing the risk of complications. Additionally, the growing awareness about the benefits of insulin pens and CGMs among healthcare professionals and patients contributes to their increasing adoption in the United States diabetes market.

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Segments: United States diabetes 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

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

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

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

Competitive Landscape

The United States diabetes market is somewhat fragmented, with few notable brand and generic players. Some of the major companies in this market include B. Braun Melsungen AG, Eli Lilly, and Company, Terumo Corporation, Becton, Dickinson (B.D.), Novo Nordisk, Ypsomed AG, Medtronic, Insulet Corporation, Abbott Laboratories, DarioHealth Corp, Dexcom, Inc, Roche Diagnostic, and Tandem Diabetes Care.

Components like the growing prevalence of diabetes, the demand for advanced management technologies, multiple treatment options, and government initiatives fuel the U.S. diabetes market’s competition. With many players entering the market, companies compete to innovate and develop new products to increase their market share. In addition, the presence of established and generic players intensifies the competition further.

All the 13 Companies Studied in the United State Food Market Report have been Studied from 3 Points

•    Company Overview

•    Recent Developments

•    Financial Insight

Company Analysis

1.    B. Braun Melsungen AG

2.    Eli Lilly and Company

3.    Terumo Corporation

4.    Becton, Dickinson (B.D.)

5.    Novo Nordisk

6.    Ypsomed AG

7.    Medtronic

8.    Insulet Corporations

9.    Abbott Laboratories

10.    DarioHealth Crop

11.    Dexcom, Inc

12.    Roche Diagnostic

13.    Tandem Diabetes Care

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