The latest report by IMARC Group titled, “US Diabetes Market Report: 2017 – 2022”, finds that the US diabetes market reached a value of nearly US$ 33 Billion in 2016, growing at a CAGR of more than 13% during 2009-2016. Factors such as high per capita income, ever-growing food processing industry, and sedentary lifestyle have changed the socio-economic structure of the United States dramatically over the past several years. However, these transformations have led to the prevalence of some of the deadly diseases in the region such as diabetes. It is a condition in which the body’s ability to produce or respond to the hormone insulin is impaired, resulting in abnormal metabolism of carbohydrates and elevated levels of glucose in the blood. Diabetes represents the world’s third largest patient pool in 2016. It is largely caused due to rising obesity levels, consumption of processed foods, stress, sedentary lifestyle and genetic factors.
Highlights of the US diabetes market:
- A huge number of diabetic patients remains the key driving factor for the growth of the market.
- Insulin represents the largest drug type, accounting for the majority of the share.
- The market is expected to reach a value of around US$ 67 Billion by 2022.
The United States is a region wherein consumers earn and spend exceedingly, thereby securing plenty of opportunities for the manufacturers in the pharmaceutical industry to create and develop a market for their products. Moreover, more than a half of the population in the US is either obese or overweight. With a large number of diabetic patients, the demand for diabetes management products has increased significantly, such as insulin injection devices and insulin pumps, insulin therapies, oral and injectable diabetes drugs, blood glucose monitoring devices, etc. Additionally, driven by the fact that the US has one of the highest per capita healthcare expenditures, the US market for diabetes is expected to reach a value of US$ 67 Billion by 2022..
The market is segmented on the basis of drug type which includes insulin and oral anti-diabetics. Currently, insulin represents the largest market, accounting for the majority of the share. It is highly popular way of administering as it avoids over or under dosing of the drug. An analysis of the competitive landscape provides the details of the key players operative in the market. Some of the major players in the US diabetes market are Merck, Astra Zeneca, Novo Nordisk, and Johnson and Johnson.
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The report has segmented the US diabetes market on the basis of:
- US Oral Antidiabetics Market
- US Insulin Market
- Astra Zeneca
- Novo Nordisk
- Johnson and Johnson
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