The increased price isn't due to rising health care costs. It's due instead to the "sheer number" of Americans who have diabetes.
New research from the American Diabetes Association shows the total cost of diabetes was $245 billion in 2012 - a 41% increase from the $174 billion spent in 2007.
"Medication costs have gone up, but overall they haven't gone up significantly," said Matt Petersen, the American Diabetes Association's managing director of medical information and professional engagement. "We have more people with diagnosed diabetes. A lot more of them. That's the burden we face."
An estimated 22.3 million people were living with type 1 or type 2 diabetes in 2012, according to the new report, up from 17.5 million in 2007.
Read full article at CNN