Diabetes is a Disease of Epidemic Proportions Throughout the World
According to the American Diabetes Association (ADA), 24 million people in the U.S. suffer from diabetes (over 230 million worldwide). Approximately 25% of Americans with diabetes are unaware they have the disease. Over 1.5 million people are newly diagnosed with diabetes each year.
The ADA reports that over 57 million people in the U.S. have pre-diabetes (impaired glucose tolerance and/or impaired fasting glycemia), a proven precursor to the development of diabetes.
Diabetes is the sixth most common cause of death and the leading cause of blindness, kidney failure and non-traumatic amputation.
The Centers for Disease Control and Prevention (CDC) reports a 50% increase in diabetes from 1997-2004. This correlates with a 41% increase in diabetes-related physician visits.
In the United States, 1 in 3 people will have Type 2 diabetes by 2050 if current trends continue, according to a 2010 report from the CDC. The numbers highlight the need for interventions to keep the number of new cases from climbing.
The Cost of Diabetes is Enormous and Growing
- The annual cost of diabetes in the U.S. is $130 – 160 billion, including $58 billion due to lost worker productivity.
- Diabetes comprises 25% of Medicare costs and 15% of all health care costs.
- Diabetic individuals, on average, incur nearly 5 times the annual healthcare costs than people without the disease.
- The Market Potential for OMC 100 is Significant
- A new report by visiongain predicts the world market for diabetes medications will reach $55.3 billion in 2017.
- The U.S. glucose monitoring market will reach $3.5 billion in 2008 ($8 billion worldwide), expanding 7.2% annually from 2003-2008.