Insulin Pumps Market
Insulin Pumps Market (Product - Insulin Pumps (Tethered Insulin Pumps and Disposable or Patch Insulin Pumps) and Insulin Pump Supplies & Accessories (Insulin Reservoirs or Cartridges and Infusion Set Insertion Devices); Distribution Channel - Hospital Pharmacy, Retail Pharmacy, Online Sales, and Diabetes Clinics or Centers) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2017 - 2025
Press Release :
Insulin Pumps Market: Snapshot
Insulin pumps are computerized devices that hold an ability to mimic the work of human pancreas. These tiny devices are integrated with a sensor and are used to continually administer the small doses of insulin after every meal in diabetic individuals. The global insulin pumps market is projected to have promising growth avenues due to rising number of diabetic patients all over the world.
According to a CDC report, there are about 34.2 million people in the U.S. suffering from diabetes. The report also highlights that this health condition is the seventh leading reason for deaths in the U.S. population. This statistics clearly signify the need to take initiatives for the management of this disease. At the same time, it also demonstrates the potential for the growth of the global insulin pumps market during upcoming period.
Rising Cases of Diabetes to Boost Demand
In the recent times, there is tremendous rise in instances of diabetes in children and older population. Moreover, growing inclination of major diabetic population toward use of advanced tools to manage their diabetes has lead to surge in demand for insulin pumps. Major reason behind this shift is said to be the convenience insulin pumps offer as compared to the conventional delivery systems. This shift has stimulated the growth of the global insulin pumps market. Besides, there is notable rise in the awareness about the tethered insulin pumps among individuals living with type 1 diabetes. This increased awareness is expected to further support the market growth during forecast period.
Major players in the global insulin pumps market are using diverse tactics to withstand in aggressive competition. They are growing investments in research and development activities to offer technology driven products. Moreover, mergers and acquisitions, alliances, and incorporation of advanced technologies are the other strategies employed by the key vendors in the global insulin pumps market.
Global Insulin Pumps Market: Overview
Insulin pumps are the instruments used in the body to administer diabetes insulin. The insulin pump is integrated with the sensor, the transmitter and the receiver, which can be programmed during the day to provide constant doses of insulin. The blood sugar level of the body is delivered and regulated. The system includes an unmatched infusion system, a subcutaneous insertion cannula, a tube system that connects the cannula to the insulin reservoir, and the unmatched insulin reservoir.
The Market Intelligence Report provides a thorough examination of the global insulin pumps market and a comprehensive analysis of the market environment, focusing on drivers, opportunities, limitations and trends. The report examines the product result in related industries and applications. The global reports provide comprehensive information about the procedures currently being pursued by market vendors to gain momentum and to review the entry points of new players. Intensive guidelines on the global market for global insulin pumps during the provision period are provided by the market intelligence survey.
Growing Awareness of Type 1 Diabetes to Propel Tethered Insulin Pumps Segment
On the basis of the distribution channels, the segment of hospital pharmacy is likely to gain traction in the global market. The report further addresses the impact in the segments such as retail pharmacy, online sales, and diabetes clinics or centers.
North America to Make Strides in Global Market
The report analyzes the global insulin pumps market geography-wise segmented into Asia Pacific, Europe, North America, South America, and the Middle East and Africa. In 2016, North America accounted for 64.1 percent of overall demand, reflecting the high prevalence of diabetes in the U.S. country, along with highly structured healthcare infrastructure, well-defined reimbursement policies from private and public health insurance, and the mushrooming number of specialized diabetes care centers. In insulin pumps, Europe remains the second most profitable region, although it is anticipated that by the end of the forecast period Europe will become a rentable region in Asia-Pacific where two of India's most promised emerging economies are located.
In the current situation, the global market for insulin pumps is fragmented in nature, with a few enetrprises holding the dominant position. Product development, alliances with diabetic specialists and geographical expansion are expected to help market leaders gain a foothold in the near future.
Prominent vendors operating in the global market, mentioned in the report include Animas Corporation (Johnson & Johnson), SOOIL Developments Co., Cellnovo Group SA, Jiangsu Delfu Co., Ltd., F. Hoffmann-La Roche Ltd., Medtronic, Valeritas, Inc., Ypsomed AG, Tandem Diabetes Care, Inc., Ltd, and Insulet Corporation.
Global Insulin Pumps Market: Overview
This report on insulin pumps market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture, commercialization, providing services of insulin pumps products such as insulin pumps and insulin pump supplies & accessories as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered in the scope of the study. This section also provides the overall information and data analysis of the global insulin pumps market with respect to the leading market segments based on major products segment, distribution channels, and geographies.
Global Insulin Pumps Market: Segmentation
Based on the product type, the insulin pumps market has been segmented into: insulin pumps and insulin pump supplies & accessories. Each of the market segments have been extensively analyzed based on the market related factors such as increasing rate of diabetes incidences worldwide, technological advancement, and growing number of use of tethered insulin pumps in various geographies. Moreover, historical year-on-year growth have been taken into consideration while estimating the market size. The market size and forecast in terms of US$ million for each segment has been provided for the period from 2015 to 2025. The report also provides the compound annual growth rate (CAGR %) for each market segment for the forecast period from 2017 to 2025, considering 2016 as the base year.
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the insulin pumps market and could influence the market in the near future. Market attractiveness analysis has been provided in the market overview section in order to explain the intensity of competition in the market across different geographies. The competitive scenario among different market players is evaluated through market share analysis in the competitive landscape section of the report. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global insulin pumps market.
Global Insulin Pumps Market: Regional Segmentation
Geographically, insulin pumps market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The market size and forecast for each of these regions has been provided for the period from 2015 to 2025, along with their respective CAGRs for the forecast period from 2017 to 2025, considering 2016 as the base year. The report also provides with market size and forecast for major countries in the respective regions. A detailed qualitative analysis of factors responsible for driving and restraining the market growth and future opportunities has been provided in the market overview section. This section of the report also provides with market attractiveness analysis, Porter’s five forces analysis, value chain analysis, pricing analysis and market share analysis by key players, thus presenting a thorough analysis of the overall competitive scenario in the global insulin pumps market.
Global Insulin Pumps Market: Competitive Landscape
The key findings section included in the report would assist existing market players in expanding their market shares, and new companies in establishing their presence in the global insulin pumps market. The report also profiles key players operating in the insulin pumps market which are Medtronic plc, Cellnovo Group SA, F. Hoffmann-La Roche Ltd., Animas Corporation (Johnson & Johnson), Valeritas, Inc., Tandem Diabetes Care, Inc., SOOIL Developments Co., Ltd, Insulet Corporation, Ypsomed AG, Jiangsu Delfu Co., Ltd. The global insulin pumps market is dominated by three global vendors that accounts for more than 50% share of the global market.
The global insulin pumps market is segmented as follows:
by Product Type
by Distribution Channel