Insulin Pumps Market Share, Trends and Growth Analysis By Type (Traditional Insulin Pumps, Smart Insulin Pumps and Disposable Insulin Pumps), Accessories (Insulin Reservoirs, Infusion Sets and Infusion Set Insertion Devices), Application (Type I Diabetes and Type II Diabetes), End User (Hospitals and Clinics, Home Care, Laboratories) and Region, Global Forecast to 2023
Insulin Pump Industry Overview:
San Diego based medical device manufacturer Tandem Diabetes Care has recently launched its lasts insulin delivery device, which called t:slim X2 insulin pump in the U.S. The device is powered by Basal-IQ technology. Tandem’s latest device comes with a predictive low glucose suspend feature, which is designed to effectively lower the instances and duration of hypoglycaemia. The basal-IQ algorithm integrated with the system allow accurate reading of blood sugar levels and predict where the levels will be in next 30 minutes. Based on the readings and predictions, the device suspends insulin delivery. The company received FDA’s approval for its device in June this year.
The Global Insulin Pump Market Size is Projected to reach USD 8520.9 at a 8.4% CAGR to back up the growth during the forecast period covering 2018 to 2023, says Market Research Future (MRFR)
Insulin pumps are known for their wide-scale use in diabetic patients at intervals to control the level of insulin. The pump delivers a dose of insulin if the glucose level goes down and can be considered better alternative for injections as they require fewer shots than the injections.
Diabetes is a chronic disease and the number of patients suffering from the disease is rising all the time as various transformation in the lifestyle is spurring the rate of growth for diabetes. On the other hand, better awareness regarding the disease is also expected to play in favour of the market.
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Insulin Pump Market Competitive Landscape:
A number of companies are showing significant interest in taking the global market for insulin pumps forward. These companies have been listed by MRFR for a better profiling and in the coming years their market patterns would be able to develop a chart regarding how the market is planning to shape up. MRFR has listed these companies and they are F. Hoffmann-La Roche AG, Sanofi, Becton, Dickinson and Company, Braun Melsungen AG, Abbott Laboratories, Medtronics, Insulet Dorporation and Tandem Diabetes Care
FDA declared that they have expanded the indication for a type of insulin aspart injection 100 U/mL to assist in the inclusion of insulin infusion pumps that has the potential to improve the glycemic response in adults.
Insulin Pump Market Segmentation:
The global insulin pump market is segmented by type, accessories, application, and end user for a better understanding of the upcoming market. This segmentation also produces information regarding various market drivers that can impact the growth patterns.
By type, the insulin pump market is segmented into traditional insulin pump and disposable insulin pump. The traditional insulin pump has the maximum market valuation owing to its wider market percolation.
By accessories, the insulin pump market is segmented into infusion sets, insulin reservoirs, and infusion set insertion devices. The infusion set segment can be segmented into steel cannula and plastic cannula.
By application, the global insulin pump market is segmented into type 1 diabetes and type 2 diabetes. Both these segments are expected to gain significant market contributions.
By end user, the insulin pump market is segmented into hospitals & clinics, home care, and laboratories. The hospitals & clinics segment has the market potential of growing up till a valuation of USD 3908.8 million by 2023.
Insulin Pump Market Regional Analysis:
North America is insulin pump market with high growth potential owing to its prospects that would trigger significant revenue generation. The regional insulin pump market is known to have a high number of diabetic people who need the assistance of such advanced devices that can simplify the drug delivery procedure. The US and Canada are countries from the zone to have the maximum benefit. Other countries are not so financially strong. In the Latin part, there are countries like Brazil, Argentina, and others who may trigger better market growth in the coming years.
In Europe, similar growth patterns can be witnessed as several players are now initiating better market percolation plan to simplify the growth process. There are other aspects like infrastructural facilities and hike in investment that can promote the regional market growth. The Asia Pacific insulin pump market is expected to have strong growth in the coming years as the regional market is allowing companies to launch their innovations to keep up the speed the structure aligned with the revamping healthcare sector. These companies are expected to gain better hike by using the massive population in their stride.
Insulin Pump Market Latest News
Tandem Diabetes Care has increased the worldwide unit sales of its t: slim X2 insulin pumps by 290%. A t: slim X2 insulin pump features integrated continuous glucose monitoring and remote software update capability
Table of Content:
1 Report Prologue
2 Insulin Pump Market Introduction
2.1 Research Objective
2.2 Assumptions & Limitations
2.2.1 Assumptions
2.2.2 Limitations
2.2.3 Market Structure
3 Insulin Pump Market Research Methodology
3.1 Insulin Pumps Market Primary Research
3.2 Insulin Pumps Market Secondary Research
4 Insulin Pump Market Dynamics
4.1 Insulin Pumps Market Drivers
4.1.1 Insulin Pumps Market Increasing Prevalence Of Diabetes
4.1.2 Insulin Pumps Market Rise In Global Obesity Population
4.1.3 Technological Advancements In Drug Delivery Devices
4.1.4 Growing Global Awareness Of Diabetic Care
4.2 Restraints
4.2.1 Risks And Disadvantages Associated With Insulin Pumps
4.2.2 High Costs Of Insulin And Insulin Pumps
5 Insulin Pump Market Factor Analysis
5.1 Porters Five Forces
5.2 Bargaining Power Of Buyers
5.3 Bargaining Power Of Suppliers
5.4 The Threat Of New Entrants
5.5 Rivalry
5.6 Threat Of Substitutes
6 Insulin Pump Market, by Types
6.1 Traditional Insulin Pump
6.2 Disposable Insulin Pump
6.2 Smart Insulin Pump
7 Insulin Pump Market, by Accessories
7.1 Insulin Reservoirs
7.2 Infusion Sets
7.2 Infusion Set Insertion Devices
8 Global Insulin Pump Market, by Application
8.1 Insulin Pumps Market Type I Diabetes
8.2 Insulin Pumps Market Type II Diabetes
9 Global Insulin Pump Market, by End Users
9.1 Insulin Pumps Market Introduction
9.2 Insulin Pumps Market Hospitals And Clinics
9.3 Insulin Pumps Market Home Care
9.4 Insulin Pumps Market Laboratories
10 Global Insulin Pump Market, by Region
11 Insulin Pump Market Competitive Landscape
12 Company Profiles
13 List of Tables
14 List of Figures
Brows More Related Research Reports
- Insulin Delivery Devices Market – The Global Insulin Delivery Devices Market size is estimated to grow at a CAGR of 7.85% and expected to reach USD 21,804 Million by 2025
- Infusion Pump Market – The Global Infusion Pump Market size is anticipated to reach USD 9.71 billion with expanding at a CAGR of 5% throughout the forecast period (2017-2023).
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