Australian pediatrician spotlights the need to combat vaccine hesitancy
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Yahoo
27 minutes ago
- Yahoo
No relief: Retirees' out-of-pocket healthcare cost are spiraling
Retirees are going to need to have a substantial chunk of change saved to pay for their healthcare costs. Fidelity's annual survey of estimated healthcare costs in retirement shows that a 65-year-old retiring this year can expect to spend an average of $172,500 in healthcare and medical expenses out-of-pocket throughout retirement, up 4% from last year's expectation of $165,000. The estimate assumes enrollment in traditional Medicare (Parts A and B) and Medicare Part D, which includes premiums, co-payments, and other out-of-pocket costs for medical care and prescription drugs. It could be far higher for some folks. Fidelity's estimate does not include long-term care expenses which, of course, can be eye-popping. Sign up for the Mind Your Money weekly newsletter By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy 'About 80% of those ages 65 and over will require some long-term care, with nearly 20% requiring high-intensity care for more than three years,' said Anqi Chen, associate director of savings and household finance at the Center for Retirement Research at Boston College. Consider this: An apartment in an assisted-living facility had an average rate of $74,148 a year in 2024, according to the National Investment Center for Seniors Housing & Care — and costs go up as residents age and need more care. Units for dementia patients can run more than $94,000. Costs keep on rising The Fidelity estimate has soared since it first ran this calculation in 2002. At that time, medical costs were estimated at $80,000 for a single retiree. Of course, there are plenty of caveats to consider when computing your figure — what you spend in retirement for medical care will depend on where you live, your overall health, and how many years you will live in retirement. Nonetheless, basic costs are continuing to rise. In 2025, for example, the monthly Part B premium rate is $185, up from $174.70 a year ago. The estimated monthly premium for 2026 is $206.20. 'Planning for healthcare costs in retirement is a crucial step in building long-term financial security, yet it's often overlooked,' John Burns, vice president at Fidelity Investments, told Yahoo Finance. Every generation is unprepared Recent Fidelity research shows 1 in 5 Americans say they have never considered healthcare needs during retirement — a figure that jumps to 1 in 4 among Gen X. Few retirees have budgeted for that kind of outlay and finding ways to grapple with it is not something you can avoid. About 15% of the average retiree's annual expenses will be health-related, per Fidelity. And nearly 4 in 10 retirees report health care expenses are higher than they expected, according to a survey by the Employee Benefit Research Institute and Greenwald Research. Increasing out-of-pocket healthcare costs, including the likelihood of long-term care expenses, is a huge concern for retirement security, said Richard Johnson, director of the Program on Retirement Policy at the Urban Institute. Even now, 1 in 10 people age 65 or older with healthcare debt owe $10,000 or more, according to a KFF study. Potential but underutilized way to defray costs For younger workers, one way to prepare for higher future costs is to invest in a health savings account (HSA). An HSA lets you put money in on a tax-free basis, lets it build up tax-free, and lets it come out tax-free for qualified healthcare expenses. (One downside: Some states assess state taxes.) To put money into an HSA, you must be enrolled in a high-deductible health plan where you pay a lower premium per month but a higher annual deductible. You can also open an HSA as a self-employed freelancer or business owner if you have a qualified high-deductible health plan. Your contributions roll over year after year and are yours to take along when you retire or change employers. The 2025 contribution limit for an HSA is $4,300 for individuals and $8,550 for families. Individuals who are 55 or older can contribute an additional $1,000. These accounts got small tweaks expanding access in Trump's tax package. Read more: HSA contribution limits: Here's how much you can save 'HSAs are a smart way to plan ahead for the rising cost of healthcare and help protect your retirement income,' Burns said. 'Save as much as you can, when you can, and make sure you leverage accounts where your savings can be invested.' In the real world, though, most account holders pull funds from their HSAs to cover current medical bills. The average withdrawal from an HSA account last year was roughly $1,300, according to HSA advisory firm Devenir.'People use it as a checking account, not an investment account,' Paul Fronstin, director of health benefits research EBRI, said. They're using it to cover current healthcare expenses right now. Plus, maxing out a contribution each year is unrealistic for many workers. 'Most people have competing needs ... if you're coming out of school, you've got student loans, if you've got children, or you're buying a house, trying to save for retirement, helping your kids with their school, and so on,' he said. Read more: How much should I have saved by 50? Only about 3.2 million health savings accounts have at least a portion of their HSA dollars invested, per Devenir. Most just leave the money in cash or spend on current bills and lose sight of one of the account's key advantages that can help retirees meet these costs down the road. Kerry Hannon is a Senior Columnist at Yahoo Finance. She is a career and retirement strategist and the author of 14 books, including the forthcoming "Retirement Bites: A Gen X Guide to Securing Your Financial Future," "In Control at 50+: How to Succeed in the New World of Work," and "Never Too Old to Get Rich." Follow her on Bluesky. Sign up for the Mind Your Money newsletter
CBS News
29 minutes ago
- CBS News
Moderna will lay off 10% of employees, Massachusetts-based company announces
Massachusetts-based Moderna, one of the companies at the forefront of developing a vaccine during the COVID pandemic, announced Thursday that it will lay off about 10% of its workforce. Moderna CEO Stéphane Bancel announced the layoffs in a letter to employees. Bancel said the layoffs will bring the number of Moderna employees below 5,000 globally. "This decision was not made lightly. It impacts teammates and friends who have dedicated themselves to our mission and who have helped build Moderna," Bancel said. "I want to express, on behalf of the entire Executive Committee and on behalf of patients you have served, our deepest thanks for everything you have contributed." The CEO said the company committed earlier in the year to reducing annual operating expenses by $1.5 billion by 2027. Bancel said Moderna has already scaled down research and development, renogoatiated supplier agreements and reduced manufacturing costs. "Every effort was made to avoid affecting jobs. But today, reshaping our operating structure and aligning our cost structure to the realities of our business are essential to remain focused and financially disciplined, while continuing to invest in our science on the path to 2027," Bancel told employees. Moderna is a pharmaceutical and biotechnology company based in Cambridge, Massachusetts. During the COVID pandemic, Moderna was one of the companies that successfully developed a vaccine that was widely distributed. Modern's vaccine received emergency use authorization, and the U.S. government purchased hundreds of millions of doses for distribution. In May, Health and Human Services Secretary Robert F. Kennedy Jr. said that he would remove the Centers for Disease Control and Prevention's recommendation for children and healthy pregnant women to get vaccinated for COVID-19. Also in May, Kennedy's HHS withdrew $766 million awarded to Moderna to develop a vaccine against potential pandemic flu viruses like the bird flu.
Yahoo
an hour ago
- Yahoo
Diabetes Care Devices Market Size Projects USD 76.44 Billion by 2034
The global diabetes care devices market size is calculated at USD 36.45 billion in 2025 and is expected to reach around USD 76.44 billion by 2034, growing at a CAGR of 8.54% for the forecasted period. Ottawa, July 31, 2025 (GLOBE NEWSWIRE) -- The global diabetes care devices market size was valued at USD 33.58 billion in 2024 and is predicted to hit around USD 76.44 billion by 2034, a study published by Towards Healthcare a sister firm of Precedence Research. Explore a preview of insights and trends shaping the Diabetes Care Devices Market: Key Takeaways North America dominated the global diabetes care devices market in 2024. Europe is anticipated to grow at the fastest rate in the market during the forecast period. By monitoring devices, the glucometer device segment held the largest share of the self-monitoring blood glucose devices market in 2024. By monitoring devices, the continuous blood glucose monitoring segment is estimated to grow at the fastest CAGR during the predicted timeframe. By management devices, the disposable insulin pen segment held the largest share of the market in 2024. By management devices, the insulin pump segment is predicted to grow at the highest CAGR in the market. Market Overview & Potential Diabetes care devices are medical tools that assist individuals in managing their diabetes by monitoring blood glucose levels, administering insulin, and offering other self-care support. These include continuous glucose monitors (CGMs), insulin pumps, smart insulin pens, and blood glucose meters. Their goal is to enhance glycemic control, lessen hypoglycemia risk, and improve the overall quality of life for people with diabetes. What Drives the Growth of the Diabetes Care Devices Market? The market is mainly fueled by the increasing number of diabetes cases, greater awareness of diabetes management, and technological advances in monitoring and treatment tools. Notably, the rising use of Continuous Glucose Monitoring (CGM) and Self-Monitoring of Blood Glucose (SMBG) devices, alongside the expansion of digital health and mobile apps for diabetes management, are key growth factors. CGM devices are becoming more popular because they offer real-time glucose data, helping users manage diabetes better and reduce complications. You can place an order or ask any questions, please feel free to contact us at sales@ What Trends Are Shaping the Diabetes Care Devices Market? Artificial Intelligence (AI): • AI is increasingly integrated into diabetes devices to enhance glucose monitoring, foresee potential problems, and tailor treatments. Smart Insulin Pens: • Insulin pens with dose calculators are becoming widespread, removing guesswork from insulin administration. Continuous Glucose Monitoring (CGM): • CGM systems are gaining popularity, providing continual glucose tracking and enabling more personalized treatment. Integration with Healthcare Providers: • Devices with connectivity features allow easy sharing of data between patients and healthcare professionals, improving communication and coordinated care. What Are the Main Challenges Facing the Diabetes Care Devices Market? The market faces several challenges, including high device and treatment costs, strict regulatory requirements, and the need for ongoing technological innovation and diverse expertise. Additionally, access to these devices remains a concern in developing areas, and integrating digital health solutions can be complex. These factors limit the growth and also hinder the expansion of the market. Get the latest insights on life science industry segmentation with our Annual Membership: Regional How Did North America Dominate the Diabetes Care Devices Market in 2024? North America dominated the global diabetes care devices market in 2024. The growth of the market is driven by the growing demand for medical devices due to the high prevalence of diabetes, technological advancements, increased healthcare spending, a growing geriatric population, increased awareness, and early diagnosis, which increases the growth of the market in the region. The well-established companies like Abbott Laboratories, Medtronic, Roche Holding AG, and Johnson & Johnson also influence the growth due to their strong presence and strong healthcare infrastructure in the region. Diabetes cases in the U.S. continue to rise, affecting over 38 million people. Sedentary lifestyles, unhealthy diets, and increasing obesity rates drive this trend. Type 2 diabetes is especially prevalent. Healthcare costs and complications strain public health systems. Prevention efforts focus on education, early detection, and lifestyle interventions. Canada is witnessing a steady rise in diabetes, with over 3.7 million diagnosed cases. Type 2 diabetes dominates, linked to aging, obesity, and physical inactivity. Indigenous populations are disproportionately affected. Health agencies emphasize early intervention, public awareness, and improved access to nutritious foods and active living opportunities for prevention. What made Europe Significantly Grow in The Diabetes Care Devices market in 2024? Europe is anticipated to grow at the fastest rate in the market during the forecast period. The growth of the market is driven by the rising prevalence of diabetes in the region, with a growing number of patients, rising obesity and physical inactivity, technological advancements, government policies, and healthcare initiatives influencing the growth of the market in the region. The key players of the region, like Medtronic, Abbott, Roche, Dexcom, and LifeScan, also contribute to the growth through product innovation, strategic partnerships, and geographic expansion to attract consumers, which influences the growth and expansion of the market in the region. Germany reports over 7 million people living with diabetes, primarily Type 2. The aging population, urban lifestyles, and increasing obesity contribute to the surge. Health authorities prioritize digital health tools, preventive care, and research. Public campaigns target better nutrition, physical activity, and early diagnosis to curb the disease's spread. In the UK, diabetes affects nearly 5 million people, with numbers climbing steadily. Type 2 diabetes accounts for most cases, often linked to poor diet, inactivity, and obesity. The NHS is investing in prevention programs and digital support tools. Socioeconomic disparities also play a role in rising incidence rates. According to Volza's Global Export data, the World shipped out 224 Glucose monitor shipments from October 2023 to September 2024 (TTM). These exports were handled by 46 global exporters to 59 buyers. Globally, the United Kingdom, China, and Belgium are the top three exporters of Glucose monitors. The United Kingdom is the global leader in Glucose Monitor exports with 373 shipments, followed closely by China with 238 shipments, and Belgium in third place with 153 shipments. Elevate your healthcare strategy with Towards Healthcare. Enhance efficiency and drive better outcomes schedule a call today: Segmental Insight By Monitoring Devices Which Monitoring Devices Segment Dominated the Diabetes Care Devices Market In 2024? The glucometer device segment held the largest share of the self-monitoring blood glucose devices market in 2024. Glucometer devices are a vital component in diabetes management, which help individuals to self-monitor blood glucose levels with accuracy and convenience. These devices are especially prevalent in home-care settings due to their portability, cost-effectiveness, and ease of operation. Market growth is supported by the rising global diabetes burden, increased patient awareness, and expanding access in low- and middle-income regions. Despite the growing popularity of continuous glucose monitors (CGMs), glucometers continue to dominate in affordability-sensitive markets. Technological advancements such as Bluetooth connectivity, smartphone integration, and no-coding strips are enhancing user experience, ensuring the segment remains relevant in a rapidly evolving diabetes care landscape. The continuous blood glucose monitoring segment is estimated to grow at the fastest CAGR in the diabetes care devices market during the predicted timeframe. Continuous blood glucose monitoring (CGM) devices have revolutionized diabetes care by offering real-time, continuous tracking of glucose levels throughout the day and night. These devices eliminate the need for frequent finger-prick tests, providing users with detailed glucose trends and alerts for hypo- or hyperglycemia. Market growth is driven by rising type 1 and type 2 diabetes cases, increased adoption in health and wellness applications, and technological innovations like smartphone integration and predictive analytics. Key players such as Dexcom, Abbott, and Medtronic lead the segment, with expanding usage across both clinical and personal settings globally, enhancing its future outlook. By Management Devices How did Segment dominate the Diabetes Care Devices Market in 2024? The disposable insulin pen segment held the largest share of the market in 2024. Disposable insulin pens are prefilled, single-use devices designed to deliver accurate insulin doses conveniently and safely. These pens are user-friendly, making them ideal for patients with limited dexterity or those new to insulin therapy. Market demand is rising due to the increasing prevalence of diabetes, especially type 2, and growing patient preference for portable and discreet insulin delivery options. Their ease of use reduces dosing errors and enhances treatment adherence. The segment is witnessing steady growth across both developed and emerging markets, supported by ongoing product innovations, rising awareness, and favorable reimbursement policies promoting at-home diabetes management. The insulin pump segment is predicted to grow at the highest CAGR in the diabetes care devices market. Insulin pumps are advanced diabetes management devices that deliver continuous subcutaneous insulin infusion, closely mimicking the body's natural insulin release. These devices offer greater flexibility in insulin dosing, improved glycemic control, and reduced risk of hypoglycemia, especially for Type 1 diabetic patients. The market is growing due to technological advancements like patch pumps, integration with CGMs, and smart algorithms enabling automated insulin delivery. High adoption in developed regions, along with rising awareness and clinical recommendations, is further boosting demand. Recent Developments In February 2025, the UVA Center for Diabetes Technology launched a trial to test AI AI-powered device for diabetes management amid rising cases of diabetes. For management by testing an innovative AI-powered device is being tested to improve automated insulin delivery. In November 2024, Singapore launched a new telehealth platform for diabetes management with real-time monitoring and for providing timely treatment. Top Companies and Their Contributions to the Diabetes Care Devices Market Company Contributions & Offerings Medtronic plc Medtronic leads in insulin delivery systems such as MiniMed pumps and closed-loop Automated Insulin Delivery systems. It recently received FDA clearance for its Simplera Sync sensor integrated with its pump ecosystem. Its diabetes segment sales rose sharply thanks to the adoption of MiniMed 780G and Simplera. Medtronic emphasizes interoperability and partnerships to build integrated CGM-pump systems. Abbott Laboratories Abbott offers the FreeStyle Libre Flash and CGM systems (Libre, Libre 2, Libre 3), plus Lingo consumer monitors, apps LibreLink, LibreView, and LibreLinkUp. Libre is used by millions, widely reimbursed, and integrated into insulin delivery via partnerships including Medtronic. CGM sales surged by over 21 percent, making Abbott a market leader. F. Hoffmann-La Roche Ltd. Roche Diabetes Care develops blood glucose meters, test strips, and CGMs such as the Accu-Chek portfolio. Offers professional systems used in clinics and integrated digital platforms. Focused on accuracy, point-of-care solutions, and global reimbursement adoption. (Note: contributions based on industry leader reports) Bayer AG Bayer offers diabetes diagnostics (blood glucose monitors) and test strips under Bayer Diabetes Care. It supports insulin dose advisors and data management solutions. It invests in research on automated insulin dosing analytics. LifeScan, Inc. LifeScan produces OneTouch blood glucose monitoring systems, including meters, test strips, and data platforms. It's OneTouch Verio Flex and OneTouch Reveal app support user engagement and data analysis. B. Braun Melsungen AG B. Braun provides insulin infusion pump systems, infusion sets, and infusion therapy solutions. Their pumps integrate with glucose monitoring and hospital insulin delivery workflows, emphasizing safety and precision. Dexcom Inc. Dexcom develops continuous glucose monitors, G6, G7, and the low-cost Stelo device. G-series supports interoperability with Tandem and Insulet pumps, enabling closed-loop systems. Dexcom Clarity software allows data to be analyzed and enables remote monitoring. Insulet Corporation Insulet manufactures tubeless patch insulin pumps, including the Omnipod DASH and Omnipod 5. Omnipod 5 is FDA-cleared automated insulin delivery pumping every five minutes, integrated with Dexcom G6, G7, and Libre 2 Plus. It targets Type 1 and expanding Type 2 populations. Ypsomed Holdings Ypsomed offers the mylife YpsoPump, an insulin pump compatible with the Dexcom G6 CGM in closed-loop operation, under a partnership. It serves European markets, focusing on patient choice and flexible integration. Browse More Insights of Towards Healthcare: The diabetes management technologies market is on track for strong growth by 2034, driven by continuous innovation in glucose monitoring devices, insulin delivery systems, and digital health platforms that are improving patient outcomes. The disposable diabetes lancets market was valued at around USD 1.19 billion in 2023 and is expected to reach USD 1.9 billion by 2034, growing steadily at a CAGR of 4.33% from 2024 onwards. The safety lancets market is also seeing rapid expansion estimated at USD 2.1 billion in 2023, it's projected to grow to USD 6.32 billion by 2034, thanks to a robust CAGR of 10.54%. The global chronic disease treatment market is accelerating. Starting at USD 8.37 billion in 2024, it's forecasted to climb to USD 9.74 billion by 2025 and reach nearly USD 38.02 billion by 2034, driven by a strong CAGR of 16.34%. The global market for diabetes drugs is projected to grow from USD 75.16 billion in 2025 to USD 134.73 billion by 2034, expanding at a healthy CAGR of 6.7% over the next decade. The pacemaker market is gradually increasing in value worth USD 5.45 billion in 2024, rising to USD 5.66 billion in 2025, and expected to reach USD 7.89 billion by 2034 with a CAGR of 3.75%. The hernia mesh device market size is forecasted to increase from USD 5.63 billion in 2024 to USD 6.02 billion in 2025 and hit around USD 11.01 billion by 2034, growing at a CAGR of 6.94%. The life sciences enterprise storage market is also showing upward momentum. It's expected to grow from USD 2.71 billion in 2024 to USD 2.86 billion in 2025, reaching approximately USD 4.67 billion by 2034, with a CAGR of 5.65%. Pain management devices are gaining traction globally, with the market valued at USD 7.68 billion in 2024 and forecasted to grow to USD 8.41 billion in 2025, ultimately reaching USD 19.1 billion by 2034, reflecting a CAGR of 9.54%. The connected drug delivery devices market is experiencing remarkable growth. From USD 7.44 billion in 2024 and USD 9.18 billion in 2025, it's set to soar to USD 61.08 billion by 2034, growing at an impressive CAGR of 23.44%. Key Players in the Diabetes Care Devices Market Medtronic plc Abbott Laboratories Bayer AG B Braun Melsungen AG Lifescan, Inc. Dexcom Inc. Insulet Corporation Ypsomed Holdings Companion Medical Sanofi Valeritas Holding Inc. Novo Nordisk Arkray, Inc Segments Covered in The Report By Region North America U.S. Canada Asia Pacific China Japan India South Korea Thailand Europe Germany UK France Italy Spain Sweden Denmark Norway Latin America Brazil Mexico Argentina Middle East and Africa (MEA) South Africa UAE Saudi Arabia Kuwait To invest in our premium strategic solution and customized market report options, click here: You can place an order or ask any questions, please feel free to contact us at sales@ Gain access to the latest insights and statistics in the healthcare industry by subscribing to our Annual Membership. Stay updated on healthcare industry segmentation with detailed reports, market trends, and expert analysis tailored to your needs. Stay ahead of the curve with valuable resources and strategic recommendations. Join today to unlock a wealth of knowledge and opportunities in the dynamic world of healthcare: Get a Subscription About Us Towards Healthcare is a leading global provider of technological solutions, clinical research services, and advanced analytics, with a strong emphasis on life science research. Dedicated to advancing innovation in the life sciences sector, we build strategic partnerships that generate actionable insights and transformative breakthroughs. As a global strategy consulting firm, we empower life science leaders to gain a competitive edge, drive research excellence, and accelerate sustainable growth. 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