North America Diabetes Treatment Market

North America Diabetes Treatment Market Size (2023 to 2028)

The diabetes treatment market in the North American region is predicted to grow to USD 39.13 billion by 2028 from USD 31.48 billion in 2023, growing at a CAGR of 4.45% from 2023 to 2028.

The growing prevalence of diabetes among the population of the North American region majorly drives the growth of the North American diabetes treatment market. According to the 2022 report, approximately 11% of the United States population is affected by diabetes. The growing sugar consumption, sedentary lifestyles, hormonal fluctuations, genetic predisposition and increased alcohol intake contribute to increased glucose levels. Diabetes is a chronic disease that emerges when the body's insulin production or utilization is inadequate. It is categorized into type 1 and type 2 diabetes. Insulin is a critical hormone that regulates blood glucose. Hyperglycemia is associated with uncontrolled diabetes and entails elevated blood sugar levels. Diabetes treatment encompasses various approaches, including dietary management, medication, and insulin administration.

The growing geriatric population and rising awareness regarding diabetes treatment across North America further fuel the growth rate of the North American diabetes treatment market. Approximately 33% of adults aged 65 and above are afflicted by diabetes which often precipitates complications such as heart and kidney failures. Healthcare professionals advocate the use of glucose monitoring devices to manage diabetes. These devices enable individuals to measure blood sugar levels with a minimal blood sample, offering independent monitoring. Via Bluetooth technology, data collected by these devices can be transmitted to smart devices and healthcare providers, facilitating more effective treatment strategies.

Increasing the development of novel treatment procedures for diabetes also helps with the market demand. Due to the increasing diabetic patient population, manufacturers and researchers are focused on the development of various types of diabetic treatment products and medication for fast recovery. They also focus on manufacturing prefilled insulin syringes with the personalized amount of insulin drugs also helps for market growth. Increasing investment in research and development, increasing government support and increasing advanced technology are the other factors that drive the market ahead.

High costs associated with specific diabetic treatments majorly hamper the North American market growth. Factors such as inadequate reimbursement policies, limited awareness, prolonged approval timelines for novel treatments and constrained production of diabetes-related devices further impede the regional market growth.

This research report on the North American diabetes treatment market has been segmented and sub-segmented into the following categories.

By Drug Class:

• Insulin

• DPP-4 Inhibitors

• GLP-1 Receptor Agonists

• SGLT2 Inhibitors

By Diabetes Type:

• Type-1

• Type-2

By Distribution Channel:

• Online pharmacies

• Hospital Pharmacies

• Retail Pharmacies

By Country:

• The United States

• Canada

• Rest of North America

The United States held the highest share in the North American diabetes treatment market in 2021 due to the disease's growing incidence, prevalence, and progressive nature, which have encouraged the development of new drugs. According to the American Diabetes Association, nearly 1.4 million Americans are diagnosed with diabetes every year. Diabetes is one of the leading causes of death in Canada. In developed countries, such as the United States and Canada, the diabetes rate is increasing, mainly due to lifestyle changes. Patients with diabetes make several daily corrections to maintain nominal blood glucose levels, such as ingesting additional carbohydrates by monitoring their blood glucose levels. All these factors drive the market forward in this region. Along with technical developments and the launch of new technology, the area is anticipated to be caused by the rising prevalence of obesity and the high cost of treatment.

The expansion of the U.S. diabetes treatment market is also helped by technological developments and the government approval of new diabetes monitoring and control products. The increasing geriatric population, affordable healthcare facilities, cost-efficient labor, and less stringent regulatory policies are among the factors compelling diabetic device manufacturers to expand their market. The Monaro (tripeptide) injection from Eli Lilly and Company was approved by the U.S. Food and Drug Administration (FDA) to complement diet and exercise to improve glycemic control in adult patients with type 2 diabetes. This region focuses on advanced treatment for diabetes. The Estimated average cost of diabetes treatments was USD 9,505.60 per person in 2019, according to the American Diabetes Association. A diabetic patient in the United States can spend nearly USD 16,750 per year on medical expenses.

Additionally, smart device usage and technological advancement such as A.I. and data analytics are driving market expansion. The U.S. approved Rybelsus oral tablets for adult patients with type 2 diabetes FDA in September 2019. The non-injectable glucagon-like peptide receptor protein therapy Rybelsus was the first approved in the United States.

KEY MARKET PLAYERS:

Companies playing a prominent role in the North American diabetes treatment market profiled in this report are Novo Nordisk A/S, Sanofi, Merck & Co., Inc., Eli Lilly and Company, AstraZeneca, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim International GmbH, Novartis AG, Johnson & Johnson Services, Inc., and Bayer AG.