The Global Insulin Pump Market is given a thorough look-over in the new report from Market Research Future (MRFR). The Global Insulin Pump Market’s inner dynamics are revealed in detail in the report with the help of accurate data, precise analysis, and valuable inputs from the industry’s current leading lights. The Global Insulin Pump Market is expected to reach a valuation of USD 8520.9 million by the end of the 2017-2023 forecast period, rising at a robust 8.4% CAGR.
The segmentation of the global insulin pumps market is presented in detail in order to provide readers with a clear picture of the market’s granular composition. Drivers and restraints affecting the market are also analyzed in detail in order to gain a clear picture of the factors helping the market grow and those that stand as obstacles in the market’s path.
The Insulin Pump Market has been driven primarily by the growing prevalence of diabetes worldwide. The global insulin pump market has risen in demand as the prevalence of diabetes has grown thanks to the growing popularity of a sedentary lifestyle and increasing consumption of junk food. The global prevalence of diabetes among adults over 18 years of age has almost doubled over the last three decades, according to the WHO, with around 422 million people estimated to be suffering from diabetes around the world in 2014.
The development of technologically advanced insulin pumps that can be easily incorporated into the motions of a diabetes patient’s daily life has changed the game for the global insulin pumps market. Technological development in healthcare devices is a major part of healthcare research and is likely to remain the same over the forecast period, driving the global insulin pumps market.
Global Insulin Pump Market – Key Players
Some of the key players in this market are:
- Braun Melsungen AG
- Hoffmann-La Roche AG
- Abbott Laboratories
- Becton, Dickinson and Company
- Insulet Corporation
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Industry/ Innovation/ Related News:
July 03, 2018 – Insulet Corporation (Canada), one of the leading companies involved in tubeless insulin pump technologies including Omnipod® Insulin Management System, announced that its Omnipod System had been selected as the preferred insulin pump for diabetic patients in the province, under the expanded British Columbia PharmaCare insulin pump program.
June 25, 2018 – Tandem Diabetes Care, a medical device company, and manufacturer of the only touch-screen insulin pumps available in the United States, announced receiving the approval from the U.S. FDA for its t: slim X2 Insulin Pump with Basal-IQ technology. Basal-IQ is predictive low glucose suspend (PLGS) feature designed to help reduce the frequency and duration of hypoglycemia.
June 22, 2018 – Medtronic, (Ireland) a leading global prescribed insulin pump company announced that the U.S. FDA has approved its MiniMed 670G hybrid closed-loop insulin pump system to be used for children between the age group of 7 and 13 and have Type 1 diabetes, an incurable autoimmune condition that prevents the pancreas from producing insulin.
Global Insulin Pump Market – Segments
The Insulin Pump Market can be segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Types: Comprises Traditional insulin pump, and Disposable insulin pump
Segmentation By End User: Comprises Hospital & Clinics, Home Care, and Laboratories, and other
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Global Insulin Pump Market – Key Findings
- The Global Insulin Pump Market is expected to reach USD 8520.9 million by 2023.
- By types, Traditional insulin pump segment holds the largest market share of Global Insulin Pump market and is expected to reach USD 4587.5 million by 2023.
- By End User, Home Care segment is expected to grow at a fastest CAGR of 8.9%.
Global Insulin Pump Market – Regional Analysis
In 2016, the North America market accounted for the leading market globally, capturing the largest market share in 2016. Factors supporting the market growth include increasing technological advancements in the healthcare industry and growing diabetic population in the region.
The Europe Insulin Pump market is expected to reach USD 2,784.5 million by 2023, growing at a CAGR of 8.7% during the review period.
Asia Pacific Insulin Pump market emerging as one of the promising markets is expected to grow at 8.9% CAGR during the forecast period 2017-2023.
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