(PharmaNewsWire.Com, February 26, 2021 ) According to the latest report by Renub Research, titled "United States Diabetes Market, By Continuous Glucose Monitoring (CGM), Blood Glucose (SMBG) Device, Insulin Pen, Insulin Pump, Reimbursement Company Analysis & Forecast" Diabetes is the 7th leading cause of death in the United States as per Center for Disease Control and Prevention. Moreover, as per the report 88 million of adults have pre-diabetes. People with pre-diabetes have blood sugar levels which are high at the same time not quite enough that can be classified as type2 diabetes. Apart from type 1 and type2 diabetes there’s gestational diabetes which is common in some women at the time of pregnancy who don’t have diabetes. The United States Diabetes Market would be USD 26.28 Billion by 2025, according to Renub Research Analysis.
Diabetes Mellitus mostly called Diabetes is metabolic diseases which cause high blood sugar. With diabetes, body either doesn’t make enough insulin or can’t effectively use insulin which prior it make. Diabetes is one of the most costly chronic disease in the United States. Despite its prevalence, millions of people don’t know they have such disease. In the US, people with diabetes have health care cost more than that of the people who don’t have such disease.
In the United States, approximately 67.3% of the cost for diabetes care is provided by government insurance say Medicaid, Medicare, and the military and at the same time rest is paid for by private insurance 30.7% or by the uninsured 2% according to ADA. In the recent years, US government spends US$150 million in diabetes research at National Institute of Health most commonly called NIH.
The driving force towards this market growth are Rising Diabetes Mellitus in an Aging Population, Rising prevalence of diabetes in various age groups, Rising Government Funding for Diabetes Management, Benefits of Insulin Pump over Multiple Daily Injection, Lifestyle-Compatible Treatment Options and Technological Advancement in Insulin Pump.
However, there are few challenges also associated with diabetes industry such as Technological advancements in insulin infusion devices, Blood Glucose Meter Accuracy Problem, Low Compliance of Glucose Monitoring & Inadequate Reimbursement for SMBG Supplies, Safety Issues in Insulin Pump Devices, and Difficulties Associated with the Pump Adherence.
1. Insulin Pump Market 2. USA (By States) – Diabetes Supplies 3. Reimbursement Policies by State-Sponsored Health Program
All the 11 Companies Studied in the Report have been Studied from 3 Viewpoints
• Company Overview • Recent Developments • Financial Insight
Company Analysis
1. B. Braun Melsungen AG 2. Eli Lilly and Company 3. Artsana S.p.A 4. BD 5. Novo Nordisk A/S 6. Owen Mumford Ltd 7. Ypsomed AG 8. Medtronic 9. Insulet Corporation 10. LifeScan Inc. 11. Abbott Laboratories
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