According to The Insight
Partners market research study titled “Insulin Pumps Market to 2025 �" Global Analysis and Forecasts by Product, Type and
Application”, the global insulin pumps market was valued at US$ 3,822.44 Mn in
2017 and is estimated to reach US$ 8,264.01 Mn by 2025. The report highlights
the trends prevalent in the global insulin pumps market and the factors driving
the market along with those that act as deterrents to its growth.
The increasing technological advancements due to the
increased demand for product development. However, the availability of
alternatives for insulin delivery pumps are expected to act as major challenges
hindering the market growth.
The global insulin pumps market is a mature market in the
developed countries as well as in developing economies worldwide. The insulin
pumps market is segmented on the basis of product, type and application. Based
on product, the market is bifurcated into pumps and accessories. By type, the
insulin pumps market is segmented into tethered and untethered types. On the
basis of application segment, the market is classified as type I diabetes and
type II diabetes. The insulin pumps include the applications such as type I
diabetes and type II diabetes. The insulin pumps by application, the dominance
of type I diabetes segment attributes to the alleviation from large costs that
are incurred by the companies for in-house activities.
The factors that are responsible for the type I diabetes
include genetics, exposure to viruses and other environmental factors that
develops in adults but also typically appears during childhood or adolescence
phase. According to the Centers for Disease Control and Prevention (CDC), in
2017, approximately 23 million people had diagnosed with diabetes in the United
States, whereas people with type I diabetes accounted for approximately 5% to
10%, or approximately 1.2 to 2.3 million in the country. Furthermore, the IDF
also projected with type I diabetes that represent approximately 10% of the
diabetes population worldwide. Thus, the increasing prevalence of type I
diabetes help to boost the growth of the global insulin market in the coming
years.
Over the years, researchers have been carrying out research
activities which have resulted to product innovations. Products with increased
technology with more effective benefits is a major requirement in the treatment
for diabetes. As the prevalence of diabetes is increasing across the world, the
demand for more products with advancements is also boosting up. The growing
innovations in novel insulin pump products is a boosting factor that helps to
propelling the growth for the market.
For instance, in July 2018, the Roche received a CE mark for
its Accu-Chek Solo micropump system. The system is a small tube-free insulin
delivery device that offers to their users the choice to bolus directly from
the pump. It is fully functional handheld device that comprise detach and
re-attach function of pump without wasting insulin. The Accu-Chek Solo
micropump integrates and the Roche’s digital health solutions contributing in a
combination to provide more effective and personalized diabetes management to
their users. Moreover, in the March 2018, the Medtronic announced to have a FDA
approval for their latest smart technology of standalone CGM named the Guardian
Connect system. The Guardian Connect system has the advanced feature including
alert system that helps in aware people about potential high or low glucose
level events, up to 60 minutes in advance.
The key players operating in the field of insulin pumps
market worldwide include Insulet Corporation, Medtronic, Tandem Diabetes Care,
Inc, Debiotech S.A, CELLNOVO, SOOIL Developments Co., Ltd, MicroPort,
Scientific Corporation, Valeritas Inc., F. Hoffmann-La Roche Ltd., Ypsomed
AGand and among others.
The report segments the global insulin pumps market as
follows:
Global
Insulin Pumps Market �" By Product
Pumps
Accessories
Global
Insulin Pumps Market �" By Type
Tethered
Untethered
Global
Insulin Pumps Market �" By Application
Type I Diabetes
Type II Diabetes
Global
Insulin Pumps Market �" By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Asia Pacific (APAC)
Japan
China
India
Middle East & Africa (MEA)
Turkey
South Africa
UAE
Saudi Arabia
South & Central America (SCAM)
Brazil
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: [email protected]
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