Insulin Pumps Market Trends 2023 | Segmentation, Outlook, Industry Report to 2032
According to Future Market Insights' newly released Insulin Pumps Market analysis report, global sales of the Insulin Pump market in 2021 will be valued at US$ 5 billion. The projected market growth from 2022 to 2032 is 10.3%, which is significantly higher than the historical growth. Because of an ageing population, an increase in diabetes incidence, and an increase in the prevalence of overweight and obesity, the absolute dollar opportunity for the Insulin Pump market is estimated to be US$ 9.7 billion.
To learn more about this report @ https://www.futuremarketinsights.com/reports/insulin-pumps-market
One of the reasons driving market expansion is an increase in the
incidence of diabetes owing to age, obesity, and an unhealthy lifestyle.
Obesity is a primary cause of diabetes, which leads to a rise in the prevalence
of diabetes-related ocular illnesses. In 2017, the worldwide incidence of
diabetes was estimated to be about 22.9 million, the prevalence was reported to
be around 476 million, 1.37 million fatalities were recorded owing to diabetes,
and 1.37 million disability-adjusted life-years (DALYs) were reported to be
related to diabetes. According to the WHO, over 1.9 billion individuals were
overweight in 2017, with around 650 million people classed as obese.
Obesity and being overweight are risk factors that are increasing the occurrence of type II diabetes. As a result, risk factors such as smoking, being overweight, being obese, and having high cholesterol are likely to increase the prevalence of type II diabetes.
Competitive Landscape
Over the projected period, rising emphasis on innovations and investments
among public and private entities is expected to strengthen competition in the
market. In addition, product commercialization and partnership tactics are
expected to be profitable in the upcoming years.
The key vendors in the global Insulin Pump market are Cellenovo, Sooil
Development, Valeritas, Inc, JingasuDelfu Co., Ltd., Medtronic plc, Hoffmann-La
Roche Ltd, Tandem Diabetic Care, Inc., Insulet Corporation, and Ypsomed.
Some of the recent developments in Insulin Pump market are:
- In June 2019,
Medtronic announced a partnership with Tidepool to develop an
interoperable automated insulin pump system. The Medtronic MiniMed pump
will serve as one of Tidepool Loop's accessories, designed to communicate
with Apple devices.
- In September
2020, Insulet Corporation, stated that its Omnipod DASH Insulin Management
System would be widely available in Israel, Switzerland, Austria, Germany,
Belgium, and France in the coming weeks. Denmark, Norway, Finland, and
Sweden have already exposure to this product.
- In June 2020,
Tandem Diabetes Care and Abbott announced a collaboration to develop and
commercialize integrated diabetes care solutions. These products will
combine Abbott's continuous glucose monitoring technology with Tandem's ground-breaking
insulin delivery devices to better diabetic blood sugar control.
- In September
2020, Medtronic announced that their MiniMedTM 770G hybrid closed loop
system has received FDA clearance in the United States. This unique
insulin administration system, which is equipped with the company's
SmartGuard technology, and can be connected to a smartphone and can be
modified for youngsters as young as two years old.
Diabetes Management Devices are medical devices
that deliver insulin to people with diabetes. They are small, computerized
devices that are worn outside the body, typically clipped to a belt or carried
in a pocket. The pump is connected to a thin plastic tube called a catheter,
which is inserted under the skin of the abdomen and delivers insulin into the
body throughout the day.
Market Segments Covered in Insulin Pump Industry Analysis
By Type:
- Patch Pumps
- Tethered Pumps
By Product Type:
- Tandem
- Accu-Chek
- MiniMed
- Omnipod
- My Life Omnipod
- Other Product
Types
By Accessories:
- Insulin
reservoir or cartridges
- Insulin set
insertion devices
- Battery
By End-User:
- Homecare
- Hospitals &
clinics
- Laboratories
Comments
Post a Comment