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| The real cost of diabetes |
No more needles | Diabetes is a major problem around the world, but exactly how much is it costing?
Today in Australia, $1.2 billion is spent treating the disease, and that will reach $2 billion by 2009.
But there’s also the expense of treating related conditions that damage eyes, nerves and kidneys, and increase the risk of heart attacks, strokes, impotence and foot problems.
Up to 80% of Australia’s 1.1 million diabetes sufferers will die of heart disease or stroke. Cardiovascular disease alone makes up 11% of all health spending - or over $5.4 billion annually.
In the US, healthcare costs related to diabetes have been estimated at US$132 billion, according to the American Diabetes Association.
The total for direct medical expenses alone was US$92 billion, comprising US$23 billion for diabetes care, US$25 billion for related chronic complications and US$44 billion for related general medical conditions.
In China, the World Health Organization predicts the country will lose US$558 billion in foregone national income due to heart disease, stroke and diabetes over the next decade.
Globally, more than 194 million people worldwide are affected by diabetes, with the number expected to rise to 350 million over the next two decades.
The International Diabetes Institute believes the direct and indirect healthcare costs associated with diabetes exceed US$153 billion, while others say it could be as high as US$286 billion.
Even the lower estimate is a staggering sum – just below the annual GDP of countries like Israel and Finland, and more than the GDPs of Singapore, New Zealand and the United Arab Emirates.
Apollo’s oral insulin, which uses cheaper insulin than most needle-related versions, has the potential to save millions of dollars by reaching more diabetes sufferers than injections, especially in developing countries.
This could help reduce direct and indirect costs, and relieve what is an enormous financial burden on medical practitioners, governments and taxpayers around the world.
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| www.apollolifescience.com |
