Market Size of US Diabetes Care Drugs Industry
| Study Period | 2018- 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2023 - 2028 |
| Market Size (2023) | USD 31.43 Billion |
| Market Size (2028) | USD 37.69 Billion |
| CAGR (2023 - 2028) | 3.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Diabetes Care Drugs Market Analysis
The United States Diabetes Care Drugs Market size is expected to grow from USD 31.43 billion in 2023 to USD 37.69 billion by 2028, at a CAGR of 3.70% during the forecast period (2023-2028).
COVID-19 has carved an especially fatal route through the 1 in 10 diabetics in the United States, including those who never contracted the virus. Because, when the epidemic struck, those with the chronic condition were already in worse form than they had been in years. It took the fatal COVID-19 outbreak to highlight a larger, more intractable public-health catastrophe in the United States: for more than a decade, the world's richest country has been losing the war against diabetes. COVID-19, which has killed over 600,000 individuals in the United States, has had a particularly devastating impact on millions of diabetic Americans. Early on, doctors and scientists recognized that many critically ill coronavirus patients also had a chronic condition. According to the Centers for Disease Control and Prevention (CDC), 40% or more of those who died from COVID-19 also had diabetes.
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.
