Overview
The Insulin Pumps Market Share is projected to grow by US$8,520.9 Million by 2023 rapidly at a CAGR of 8.4% throughout the forecast period. Growing prevalence of diabetes as well as increased risk of serious health ailments drive the global insulin pumps market. These key growth drivers have incredibly helped the insulin pumps market and are estimated to boost the growth. Analysts studying the insulin pumps market have also shared growth projections in the insulin pumps market research report and have suggested insulin pumps market-based companies to develop growth strategies. Rising belief in naturopathy and imposition of strict rules are the challenges that companies across the insulin pumps market could face. The details covered in the insulin pumps market report cover all the aspects of the industry.
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Market Segmentation
The global insulin pumps market has been segmented based on type, application, accessories, and end-users. On the basis of application, the market for insulin pumps is segmented based on Type I Diabetes and Type II Diabetes. Additionally, the market on the basis of type, is segmented into smart insulin pumps and disposable insulin pumps, traditional insulin pumps. The global market for insulin pumps is also covered based on accessories segment which is further split into infusion sets and infusion set insertion devices, insulin reservoirs. On the basis of end-users, the market for insulin pumps is segmented based on home care, hospitals and clinics, laboratories.
Factors like increasing awareness about the disease and expanding geriatric population propel the insulin pumps market growth. The insulin pumps market performance has also been studied. The insulin pumps market report provides analysis of past and current trends. The market segmental analysis provided in the insulin pumps market research report offers crucial details about the insulin pumps market based on the data and forecasts till 2027.
Segmentation Analysis
The global insulin pump market is segmented by type, accessories, application, and end-user.
By type, it is segmented into smart insulin pump, disposable insulin pump, and traditional insulin pump. The traditional insulin pump segment was the largest in 2016 and valued at USD 2,696.9 million. It can touch a value of USD 4,587.5 million by the end of the forecast period. On the other hand, disposable insulin pumps can continue on a winning streak due to being worn on the body and being controlled by an external body.
By accessories, it is segmented into infusion set insertion devices, infusion sets, and insulin reservoirs.
By application, it is segmented into type I diabetes and type II diabetes.
By end-user, it is segmented into laboratories, home care, and hospitals & clinics. Hospitals & clinics had accounted for 45.2% share in 2016 with a valuation amounting to USD 2,188.2 million in 2016. The segment can accrue close to USD 3,908.8 million by 2023 due to management of inpatient care. Moreover, clinical trials of continuous subcutaneous insulin infusion (CSII) treatments can drive the segment growth as well. On the flip side, the home care segment is expected to exhibit 8.9% CAGR during the forecast period.
Competitive Landscape
The insulin pumps market is corroborated by growing development activities. The population growth as well as increasing demand of insulin pumps market based solutions also accelerate the market growth. However, the insulin pumps market can be affected due to strict rules and regulations for product approval as well as growing inclination towards naturopathy. The insulin pumps market research report covers all such factors assisting companies in the insulin pumps market to improve their plans and portfolio. The insulin pumps market research report also provides company profiles of major businesses. The insulin pumps market report highlights crucial details about organizations operating across North America, Europe, Asia-Pacific (APAC), and the rest of the world regional markets.
Key Players
Leading players profiled in the Insulin Pump Market include Dickinson, and Company, Becton, Insulet Corporation, F. Hoffman-La Roche AG, Abbott Laboratories, Sanofi, Medtronics, Braun Melsungen AG and others.
March 2019
Medtech player Medtronic lately launched an insulin pump system called the MiniMed 670G in the UK for people having Type 1 diabetes. The specialty of this pump is it is self-adjusting. This is the first ever system for automating personalizing basal insulin delivery for 24 hours. It learns the patient’s body thereby adjusting the insulin delivery automatically for stabilizing the level of glucose and avoiding hyperglycaemia and hypoglycaemia making a positive impact on those having type 1 diabetes. This will be on the perspective of both clinical as well as quality of life.
1 Report Prologue
2 Insulin Pumps Market Introduction
2.1 Research Objective 12
2.2 Assumptions & Limitations 12
2.2.1 Assumptions 12
2.2.2 Limitations 12
2.2.3 Market Structure 14
3 Insulin Pumps Market Research Methodology
3.1 Insulin Pumps Market Primary Research 17
3.2 Insulin Pumps Market Secondary Research 17
4 Insulin Pumps Market Dynamics
4.1 Insulin Pumps Market Drivers 19
4.1.1 Insulin Pumps Market Increasing Prevalence of Diabetes 19
4.1.2 Insulin Pumps Market Rise in Global Obesity Population 19
4.1.3 Technological Advancements in Drug Delivery Devices 19
4.1.4 Growing Global Awareness of Diabetic Care 19
4.2 Restraints 20
4.2.1 Risks and Disadvantages Associated with Insulin Pumps 20
4.2.2 High Costs of Insulin and Insulin Pumps 20
5 Insulin Pumps Market Factor Analysis
5.1 Porters Five Forces 23
5.2 Bargaining Power of buyers 24
5.3 Bargaining Power of Suppliers 24
5.4 The threat of New Entrants 24
5.5 Rivalry 24
5.6 Threat of Substitutes 24
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