Market Size of US Diabetes Care Drugs Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 32.59 Billion |
| Market Size (2029) | USD 39.08 Billion |
| CAGR (2024 - 2029) | 3.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Diabetes Care Drugs Market Analysis
The US Diabetes Care Drugs Market size is estimated at USD 32.59 billion in 2024, and is expected to reach USD 39.08 billion by 2029, growing at a CAGR of 3.70% during the forecast period (2024-2029).
The prevalence of diabetes in the United States is rapidly increasing, as indicated by the latest data from the CDC's National Diabetes Statistics Report for 2022. The report estimates that there are now approximately 37.3 million cases of diabetes in the country. This accounts for 11.3% of the U.S. population.
Out of these cases, around 28.7 million individuals have already been diagnosed with diabetes, while approximately 8.6 million people remain undiagnosed. It is important to note that diabetes affects individuals from all social, economic, and ethnic backgrounds. Furthermore, nearly half of the population aged 65 years or older, which amounts to 26.4 million people, have prediabetes.
According to the World Health Organization (WHO), the risk of diabetes has increased in North America due to the aging population. With advancements in healthcare, people are living longer, resulting in a significant percentage of the aging population being diagnosed with diabetes. The rising number of diabetes cases includes individuals who have recently developed the condition, particularly young individuals with unhealthy lifestyles. Additionally, there is an increase in the number of older adults who have been diagnosed with diabetes due to the availability of newer tests and increased screening.
Based on drugs, the insulin segment holds a significant share in the market. Over 100 million people around the world need insulin, including all the people suffering from Type-1 diabetes and between 10% and 25% of people with Type-2 diabetes. Production of insulin is very complex, and there are very few companies in the market that manufacture insulin. Due to this, there is high competition between these manufacturers, who always strive to meet the patient's needs to supply the best-quality insulin.
