Innovative Products by Manufacturers Enabling Accurate Measurements of Dosage to Drive Demand for Insulin Pumps

The global demand for insulin pumps is increasing on account of the growing public awareness thanks to social media. The demand is naturally increasing because of the number of people suffering from diabetes is rising each day and also due to high disposable income. The increasing geriatric population and the associated high risk of this segment of population to acquire diabetes will also aid the growth of the market. According to a report published by Transparency Market Research (TMR), the global insulin pumps market will rise from US$4,180.4 mn in 2016 to be worth US$9,550.7 mn by 2025, expanding at a 9.8% CAGR between 2017 and 2025.

Given below is a blog post where experts from TMR answer three important questions regarding the global insulin pumps market:

Q. Which region is expected to be the most lucrative market for insulin pumps?

Among regions such as Asia Pacific, Europe, North America, and the Middle East and Africa, it is expected that North America will emerge as the most lucrative market in the years to come. 64.1% of the overall demand for insulin pumps came from North America in 2016. Highly structured healthcare infrastructure along with high prevalence of diabetes among the people are the two reasons behind the growth of the region in the insulin pumps market. The favorable reimbursement policies from both private and public health insurance companies are also aiding the growth of the insulin pumps market in North America. The region also houses many specialized diabetes care centers. All these factors make North America the most lucrative market for insulin pumps, trailed by Europe. The market in Asia Pacific will also emerge as promising in the future, with high demand from China and India. 

Q. Of the two product segments, insulin pumps and accessories, which is expected to lead and why?

By product, the insulin segment is expected to lead. The segment is further sub-segmented into tethered insulin pumps and disposable or patch insulin pumps. This segment accounted for a massive 70.1% share of the total market in 2016. The growing awareness among the people suffering from type-1 diabetes patients regarding tethered insulin pumps and technologically advanced products such as patch pumps are boosting the growth of this segment. The advent of advanced products have increased the efficiency and enabled accurate measurements of dosage which is furthering their adoption. All these factors are helping this segment’s growth. 

Q.  What are the recent developments in this field by key players?

Insulet Corporation has developed Omnipod Horizon System which makes use of an algorithm that foresees the blood glucose levels and reacts quickly and efficiently in adjusting the insulin delivery to a patient, thereby optimizing the outcome for a user.

On August 28, 2017, announced that they have received the approval for their t:slim X2™ Insulin Pump with Dexcom G5® Mobile continuous glucose monitoring (CGM) integration. This will be the first sensor-augmented insulin pump which has been approved to allow users to make treatment decisions without pricking their finger. The software on this pump will also be available to users allowing them to add add CGM integration to their existing pumps from home using computers. All these recent developments by leading players will help drive the market in the years to come. 


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