Insulin Pump Market Report – Global Forecasts to 2023

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Overview:

Insulin pump is a small and discreet device that delivers a specific amount of insulin through a needle inserted underneath the skin. The insulin pump is integrated with the receiver, transmitter, and a sensor that can be programmed to deliver constant doses of insulin during the day. It delivers and regulates blood sugar level in the body. It consists of a disposable infusion set, a cannula for subcutaneous insertion, a tubing system to connect the cannula with the insulin reservoir, and a disposable reservoir for insulin set.

Factors such as rising prevalence of diabetic patients, technological advancements, and the increasing potential in the emerging countries are expected to drive the market growth during the forecast period. The high cost of insulin pumps and stringent regulatory approval process are factors hampering the market growth.

The markets in India, Brazil, and China are also expected to grow at a rapid pace during the forecast period due to the high prevalence of diabetes in these countries. 

Market Analysis:

The global insulin pumps market is estimated to witness a CAGR of 8.3% during the forecast period 2017–2023. The market is analyzed based on three segments – product types, end-users, and regions.

The factors such as re-sales of insulin pumps and the increased adoption of advanced technology products are the opportunities for the market players during the forecast period. Increasing awareness among people about diabetes and glucose monitoring devices has a significant impact on the growth of the global insulin pumps market.

Product Analysis:

The market is witnessing an emerging trend for advanced insulin pumps such as Medtronic’s MiniMed 530G system. Knowledge about the advantages of insulin pumps systems over traditional injections, meters, and other glucose monitors has led to the market growth in developed countries.

The regulatory scenario is of concern as there has been a wide range of instruments and assays, which range from Class I to Class III devices. Recently, there has been a change in regulations in the European region, which has become a major issue for the market players. 

Regional Analysis:

The regions covered in the report are the Americas, EMEA, APAC, and Rest of the World (ROW). The Americas is set to be the leading region for the insulin pumps market growth followed by Europe. Asia Pacific and ROW are set to be the emerging regions. The markets in India, Brazil, and China are expected to grow at a rapid pace during the forecast period as the prevalence of diabetes and lifestyle diseases in these countries is high. These countries are set to be the target regions for the players due to the large untapped market.

Key Players:

The leader in the insulin pumps market is Animas, who is currently occupying the majority of the insulin pumps market share. Medtronic, Roche, Asante, Cellnovo, and Insulet are the other major players in the market. These top players occupy more than half of the market. The report covers the following players:

  • Animus Corp.
  • Medtronics Inc.
  • Insulet Corp.
  • Roche Diagnostics
  • Cellnovo Ltd.
  • Asante
  • Nipro Diagnostic Inc.
  • Tandem Diabetes Care Inc.
  • Sooil Development Co. Ltd.
  • Ypsomed 

Competitive Analysis:

The tethered pumps segment is dominating the global insulin pumps market, and a lot of new players are focusing on developing technologically advanced reagents and analyzers to gain the market share. The advanced products such as MiniMed 530G system and OmniPod insulin pumps are expected to drive the market growth in the future.

The large players such as F. Hoffmann-La Roche and Medtronics are acquiring companies with products that would complement their existing portfolio. Significant investments in R&D in this market is expected to increase, and collaborations and M&A are expected to continue.

Benefits:

The report provides complete details about the usage and the adoption rate of insulin pumps by various end-users and regions. The key stakeholders use this information to know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward the increasing awareness of diseases in the upcoming years along with the details of commercial devices available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report provides complete details about the main business opportunities to the key stakeholders to expand their business and gain revenue in the specific vertical and to analyze before investing or expanding the business in this market. 

Key Stakeholders

1     Industry Outlook

1.1        Industry Overview

1.2        Industry Trends

1.3        Pest Analysis

2     Report Outline  

2.1        Report Scope

2.2        Report Summary

2.3        Research Methodology

2.4        Report Assumptions

3     Market Snapshot 

3.1        Total Addressable Market (TAM)

3.2        Segmented Addressable Market (SAM)

3.3        Related Markets

3.3.1     Infusion Pumps Market

3.3.2     Diabetes Drugs Market

3.3.3     Diabetes Management Market

4     Market Outlook  

4.1        Overview

4.2        Market Definition – Infoholic Research

4.3        Importance of Insulin Pumps

4.4        Market Segmentation

4.5        Porter 5(Five) Forces

5     Market Characteristics 

5.1        Evolution

5.2        Insulin Pumps Advantages

5.3        Insulin Pumps Disadvantages

5.4        Role of Insulin Pumps in Healthcare

5.5        Market Dynamics

5.5.1     Drivers

5.5.1.1    Potential increase in the number of aged population

5.5.1.2    Growing awareness of insulin pumps in the emerging markets

5.5.1.3    Significant focus on diabetes management

5.5.1.4    Increasing prevalence of diabetic population

5.5.2     Opportunities

5.5.2.1    Substitute for conventional diabetes treatments

5.5.2.2    Technological advancements

5.5.2.3    Significant increase in the number of mergers and acquisitions

5.5.2.4    Latest product launches

5.5.3     Restraints

5.5.3.1    Threat of technological substitutes

5.5.3.2    Unfavorable reimbursement plans

5.5.3.3    Acute competition in the market

5.5.3.4    Issues related to product pricing

5.5.4     DRO – Impact Analysis

5.5.5     Key Stakeholders

6     Types: Market Size and Analysis 

6.1        Overview

6.2        Tethered Pumps

6.3        Untethered Pumps

6.4        Implantable Pumps

7     End User: Market Size and Analysis 

7.1        Overview

7.2        Hospitals

7.3        Ambulatory Care

7.4        Others

8     Regions: Market Size and Analysis 

8.1        Overview

8.2        Americas

8.3        EMEA

8.4        APAC

9     Market Attractiveness 

9.1        Market Attractiveness by Types

9.2        Market Attractiveness by End Users

10   Competitive Landscape

10.1     Overview

11   Vendor Profiles 

11.1     Animas Corp.

11.1.1  Overview

11.1.2  Business Focus

11.1.3  Business Strategy

11.2     Insulet Corp.

11.2.1  Overview

11.2.2  Business Unit

11.2.3  Geographic Presence

11.2.4  Business Focus

11.2.5  SWOT Analysis

11.2.6  Business Strategy

11.3     Medtronic Plc

11.3.1  Overview

11.3.2  Business Unit

11.3.3  Geographic Presence

11.3.4  Business Focus

11.3.5  SWOT Analysis

11.3.6  Business Strategy

11.4     F.Hoffmann-La Roche Ltd

11.4.1  Overview

11.4.2  Business Unit

11.4.3  Geographic Presence

11.4.4  Business Focus

11.4.5  SWOT Analysis

11.4.6  Business Strategy

11.5     Abbott Laboratories

11.5.1  Overview

11.5.2  Business Unit

11.5.3  Geographic Presence

11.5.4  Business Focus

11.5.5  SWOT Analysis

11.5.6  Business Strategy

12   Companies to Watch For 

12.1     Sanofi

12.1.1  Overview

12.1.2  Sanofi in 2015

12.2     B. Braun Melsungen AG

12.2.1  Overview

12.3     Carestream Health Inc.

12.3.1  Overview

Annexure  

Abbreviations

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

infoholic Research Methodology

Market related information is congregated from both primary and secondary sources.

Primary sources involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.