The Insulin Pumps Market is driven by Type II diabetes, the increasing geriatric population, increasing product development with advanced technology and increasing funding for research activities.
The key players operating in the insulin pumps market 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, Inc. and among others.
In North America, diabetes management is gaining significant importance. With increasing funding for research, new product development is increasing are a rapid pace in the US and other countries. For instance, the Consolidated Appropriations Act for Fiscal Year 2016 increased discretionary funding for the National Institute of Diabetes and Digestive and Kidney Diseases to US$1.81 billion, an increase of over US$68 million compared to FY2015. This funding will help the institute to expand promising research toward improved treatments and cure for diabetes. Furthermore, the legislation also provided increased funding of US$ 170.12 million for the Division of Diabetes Translation at the Centers for Disease Control and Prevention (CDC). This funding will help the division to accomplish its mission to reduce the preventable burden of diabetes.
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The increasing product development with advanced technology is expected to provide impetus for the growth of the insulin pumps market during the forecast period. For instance, the Guardian Connect system, by Medtronic, developed 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 system is proven in a clinical study to accurately alert patients of 98.5 % of hypoglycemic events. Moreover, the Accu-Chek Solo micropump system by Roche comprise detach and re-attach function of pump without wasting insulin.
Type II diabetes is also contribute the significant role in increasing the growth of the insulin pumps market. Type II diabetes is a condition in which body does a poor job and turning the carbohydrates in food into energy that cause sugar (glucose) to build up in the blood. In turns, the risk upsurge to get heart disease, blindness, nerve and organ damage, and other serious conditions. According to the Centers for Disease Control and Prevention (CDC), approximately 14%, or 3.2 million people estimated to manage their diabetes with insulin only in the United States. Insulin pumps are used to for curing the people with type II diabetes that help in makes insulin to control the blood sugar levels.
The global insulin pumps market is a mature market in current scenario, in the developed countries as well as in developing economies worldwide. Over the past few years, products with increased technology with more effective benefits is a major requirement in the treatment for diabetes. The advancement and development in the treatment is increasing in the last few years. As the prevalence of diabetes is increasing across the world, the demand for more products with advancements is also boosting up. Hence, over the years, researchers have been carrying out research activities which have resulted to product innovations.
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The global 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 increasing geriatric population is the considerable factor that is helping to boost the growth of the market in the forecast period. However, the availability of alternatives for insulin delivery pumps is expected to hamper the growth of the market.
Key Insights Covered:
1. INTRODUCTION 21
1.1 SCOPE OF THE STUDY 21
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 21
2. GLOBAL INSULIN PUMPS MARKET - KEY TAKEAWAYS 22
3. GLOBAL INSULIN PUMPS MARKET - MARKET LANDSCAPE 25
3.1 OVERVIEW 25
3.2 MARKET SEGMENTATION 25
3.2.1 Global Insulin Pumps Market - By Product 26
3.2.2 Global Insulin Pumps Market - By Type 26
3.2.3 Global Insulin Pumps Market - By Application 26
3.2.4 Global Insulin Pumps Market - By Geography 27
3.3 PEST ANALYSIS 28
3.3.1 North America - PEST Analysis 28
3.3.2 Europe- PEST Analysis 30
3.3.3 Asia Pacific- PEST Analysis 32
3.3.4 Middle East And Africa- PEST Analysis 34
3.3.5 South and Central America - PEST Analysis 36
4. GLOBAL INSULIN PUMPS MARKET - KEY MARKET DYNAMICS 38
4.1 KEY MARKET DRIVERS 38
4.1.1 Increasing Prevalence of Diabetes 38
4.1.2 Increasing Technological Advancement in Insulin Pump 39
4.1.3 Increasing Rise in the Geriatric Population 39
4.2 KEY MARKET RESTRAINTS 40
4.2.1 Availability of Alternatives for Insulin Delivery Pumps 40
4.2.2 High Cost of Insulin Pumps 40
4.3 KEY MARKET OPPORTUNITIES 41
4.3.1 Rising Medical Tourism In Developing Countries 41
4.4 FUTURE TRENDS 41
4.4.1 Growing Product Innovations 41
4.5 IMPACT ANALYSIS 42
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5. INSULIN PUMPS MARKET - GLOBAL ANALYSIS 43
5.1 GLOBAL INSULIN PUMPS MARKET REVENUE FORECASTS AND ANALYSIS 43
5.2 GLOBAL INSULIN PUMPS MARKET, BY GEOGRAPHY - FORECASTS AND ANALYSIS 44
5.3 MARKET POSITIONING 45
5.4 PERFORMANCE OF KEY PLAYERS 45
5.4.1 Medtronic 45
5.4.2 Insulet Corporation 46
5.5 EXPERT OPINIONS 46
6. INSULIN PUMPS MARKET - GLOBAL REGULATORY SCENARIO 47
6.1 NORTH AMERICA 47
6.1.1 US 47
6.1.2 Canada 48
6.1.3 Mexico 49
6.2 EUROPE 50
6.3 ASIA PACIFIC 51
6.3.1 Japan 51
6.3.2 China 52
6.3.3 India 53
6.4 MIDDLE EAST & AFRICA 54
6.4.1 Saudi Arabia 54
6.4.2 South Africa 55
6.5 SOUTH & CENTRAL AMERICA 56
6.5.1 Brazil 56
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