Diabetes costs the U.S. economy $295 billion per year, making it one of the country’s most expensive diseases. But the damage obviously extends well beyond dollars and cents. Diabetes is the 7th most deadly disease in the U.S., claiming over 80,000 lives per year and becoming a daily concern for millions more people.
Yet the roughly 9 in 10 Americans who don’t have diabetes probably don’t understand the full extent of the struggle. The same can be said of the over 1 in 5 people with diabetes who don’t know they have it.
To help spread awareness, WalletHub assembled an infographic filled with diabetes facts and statistics. These facts explore the physical and financial impacts of the disease as well as what folks are doing to fight back. We also surveyed a panel of diabetes experts about issues ranging from personal finance to public policy. You can find everything below.
6 Facts About Diabetes in 2020
- $294.6 Billion: Estimated medical cost of diabetes in the U.S. in 2019.
- $9,506: Average annual diabetes-related health care costs for patients.
- 2.3: Number of times by which a diabetes patient’s health care costs increase.
- 14 & 18 Years: Reduction in the average male and female type 1 diabetes patient’s life expectancy, respectively.
- 88 million: American adults have “prediabetes” (84% of them don’t know they have it).
- 70%: Chances of developing diabetes if both your parents have type 2 diabetes.
For insights into how we can reduce the many costs of diabetes, WalletHub posed the following questions to a panel of experts. You can check out their bios and responses below.
- What are the warning signs that someone may have Type 1 Diabetes? What about Type 2?
- What steps can someone take today to help reduce diabetes risk?
- What should public officials do to raise awareness about diabetes and the need for screening?
- What are some common myths or misunderstandings people have about diabetes?
- What tips do you have for a person with Type 2 diabetes looking to maintain a healthy and active lifestyle while on a budget?
- Do people with diabetes have a higher chance of experiencing life-threatening complications from COVID-19? What are the emergency warning signs they should be watching out for?
- What measures can be taken to mitigate the impact of COVID-19 on access to insulin and other diabetes supplies?