Global Insulin Pumps Market: Snapshot
The demand in the global insulin pumps market is projected to increment at a healthy CAGR of 9.8% during the forecast period of 2017 to 2025, gaining traction from a number of factors such as growing prevalence of diabetes, escalating geriatric population, and rising public awareness regarding the availability of insulin pumps. On the other hand, high cost, inadequate reimbursement policies, and the availability of alternatives are a few factors challenging the insulin pumps market from attaining its true potential. Nevertheless, advances in insulin pumps and their growing adoption of over conventional methods are a few factors opening new opportunities for the vendors operating in this market. This report estimates global insulin pumps market to be worth US$9,550.7 mn by the end of 2025, notably up from its evaluated valuation of US$4,180.4 mn in 2016.
Advanced Insulin Pumps Most Profitable Product Segment
Product-wise, the global insulin pumps market has been segmented into insulin pumps including tethered insulin pumps and disposable or patch insulin pumps and insulin pump supplies and accessories including insulin reservoirs or cartridge and infusion set insertion devices. Presently, insulin pumps segment is most profitable, accounting for 70.1% of the market in 2016, gaining traction from a number of factors such as growing awareness among the type-1 diabetes patients regarding tethered insulin pumps, advent of technologically advanced products such as patch pumps, and prevalence of diabetes across the world. The advanced products offer increased efficiency as well as helps in accurate measurement of dosage, which is further augmenting the adoptability. Based on distribution channel, the report categorizes the global insulin pumps market into hospital pharmacy, online sales, retail pharmacy, and diabetes clinics or centers. Currently, hospital pharmacy is the most preferred distribution channel category, and is expected to remain highly profitable throughout the forecast period.
The U.S. Makes North America Lucrative Region
Out of five major regions, North America, Asia Pacific, Latin America, Europe, and the Middle East, of which this report gauges the potential of insulin pumps market, North America is most lucrative. In 2016, North America served 64.1% of the overall demand, which was a reflection of high prevalence of diabetes in the country of the U.S., along with highly structured healthcare infrastructure, well-defined reimbursement policies from private and public health insurance, and mushrooming number of specialized diabetes care centers. Europe continues to be the second most profitable region in the insulin pumps market, although vastly populated region of Asia Pacific, which houses two of the most promising emerging economies in India and China, is anticipated to turn into profitable region towards the end of the forecast period.
In the present scenario, the global insulin pumps market is fragmented in nature, with a few companies holding the pole position. In the near future, product development, alliances with specialized diabetic care centers, and geographical expansion is expected to help the market leaders to gain ground over their competitors. Some of the key companies identified by the report who are operating in the global insulin pumps market are: Medtronic, F. Hoffmann-La Roche Ltd., Cellnovo Group SA, Animas Corporation (Johnson & Johnson), Insulet Corporation, Tandem Diabetes Care, Inc., Valeritas, Inc., SOOIL Developments Co., Ltd, Ypsomed AG, and Jiangsu Delfu Co., Ltd.
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:
Global Insulin Pumps Market, by Product Type
- Insulin Pumps
- Tethered Pumps
- Disposable/Patch Insulin Pumps
- Insulin Pump Supplies and Accessories
- Insulin Reservoirs/Cartridges
- Infusion Set Insertion Devices
Global Insulin Pumps Market, by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Sales
- Diabetes Clinics/ Centers
Global Insulin Pumps Market, by Geography
- North America
- Rest of the Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America (LATAM)
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA