A new report titled “Diabetes Global Industry Overview 2023” reveals that nearly seven million people died globally due to diabetes in 2021, with a staggering $970 billion spent on healthcare. Currently, 537 million adults worldwide are living with diabetes, with three-quarters of them residing in low- and middle-income countries.
Report: 540M with impaired glucose
The report, published by Aging Analytics Agency, an analytical company focused on aging, geroscience, and longevity, also highlights that over 540 million adults globally have impaired glucose tolerance, a condition associated with prediabetes.
Alarmingly, the level of undiagnosed diabetes globally stands at around 40%, with the highest levels found in Africa (60%), South-East Asia (57%), and the Western Pacific Region (56%). The report attributes this to the fact that diabetes can often go undiagnosed for years unless detected during a routine screening exam and blood test.
Over 1,800 diabetes treatment centers worldwide
The study also found more than 1,840 medical centres specialising in diabetes treatment worldwide. The US leads the market with 1,466 medical centres, accounting for approximately 78% of the global total. India, Canada, the UK, Japan, and Australia follow with significant numbers of medical centres for diabetes.
Over 1,800 companies offer hospital services for patients with diabetes. Around 45% of them specialise directly in diabetes treatment, while 20% provide treatment for diabetes complications. These clinics offer a range of services including diabetes treatment, prevention, screening, managing patients’ health and quality of life, residential and home care, and rehabilitation.
However, the market saturation of this type of service has been apparent since 2019. The period between 2000 and 2007 represents the “industry breakthrough” era of diabetes diagnostics. The market then experienced a period of relative stability between 2008 and 2016 before a period of industry collapse from 2017 onward.
In the last two years since the COVID-19 pandemic, only 13 new diabetes diagnostics clinics have been opened. The report also found more than 530 companies specialising in diabetes diagnostics. The US leads this market as well, hosting more than 65% of diagnostic companies for diabetes.
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