Economic Cost
Economic Burden of Diabetes:
- Bommer et al. project changes in the total economic burden of diabetes in 180 countries worldwide. They estimate the global cost of diabetes will increase from $1.3 trillion in 2015 to between $2.1 and $2.5 trillion in 2030. (Source: American Diabetes Association)
- About 95% of the countries will spend 5% or more, and about 80% of the countries will spend between 5% and 13% of their total healthcare dollars on diabetes.
The American Diabetes Association’s study of the economic costs of diabetes in the U.S. in 2017 reported on both the increasing prevalence of diabetes and the increasing per capita cost of diabetes. These two factors are driving a continuing rise in the costs of diabetes in the U.S. We may be gaining some ground in diabetes prevention, but the continuing low awareness of prediabetes, the low uptake of preventive interventions, and the increasing per capita cost of diabetes remain a major concern. (Source: American Diabetes Association)
Global Cost of Diabetes:
- More than 80% of the global expenditures on diabetes are made in the world’s economically richest countries.
- The North American and Caribbean Region will spend $214 billion, or 57% of the global total on diabetes.
- In contrast, the African Region will spend, in total, $1.4 billion for diabetes, or 0.4% of the global total.
- The United States of America (USA), will alone spend $198 billion, or 52.7% of global expenditures.
- India, the country with the largest population of people living with diabetes, will spend an estimated $2.8 billion.
The largest economic burden caused by diabetes is the monetary value associated with disability and loss of life as a result of the disease itself and its related complications, including heart, kidney, eye and foot disease.
An Economic Cost & Cost in Quality of Life
According to Diabetes Canada, one in three Canadian has diabetes or prediabetes. Only 33% of Canadians are aware that stroke is a complication of diabetes. Only 40% of Canadians identified heart disease as a complication of diabetes. Annually, people living with diabetes account for 30% of strokes; 40% of heart attacks; and, 50% of kidney failure requiring dialysis. Beyond the economic cost of the disease is the burden of living with the complications. (Source: Diabetes Canada 2019; www.diabetes.ca)
R&D for a Brighter Future
Fortunately, the economic burden of diabetes can be reduced by implementing cutting-edge, inexpensive, easy-to-use interventions. At Cell MedX, we’re committed to being part of the future solution through our R&D looking at safe, effective and economical microcurrent technologies.