Insulin Pumps Market – Regional
Analysis
North America is expected to hold
a dominant position in the global Insulin
Pumps Market over the forecast period, owing to the increasing prevalence
of diabetes in the U.S. population. For instance, according to American
Diabetes Association, 2018, in 2018, around 34.2 million U.S. population were
reported to have diabetes. Out of which, 26.8 million were diagnosed and 7.3
million were undiagnosed. Moreover, 14.3 million people constitutes the older
population (above the age of 65 years) are suffering from diabetes. Moreover,
diabetes is the seventh leading cause of death in the U.S. population with
around 76,000 deaths annually in the U.S. every year.
Additionally, reimbursements
policies provided by the government to the patients is expected to fuel the
global insulin pumps market growth over the forecast period. For instance,
according to the Centers for Disease Control and Prevalence (CDC), 2018, in the
U.S., Diabetes Self-Management Education and Support (DSMES), provides
education for the patients for increasing their knowledge and skills for the
management of diabetes. DSMES are funded by Medicaid, which aids in reducing
the health care cost of the patients.
In addition, there is rising
prevalence of diabetes in middle and low income regions that is expected to
drive growth of the insulin pumps market. For instance, according to
International Diabetes Federation, 2018, in South-East Asia, around, 88 million
people are suffering from diabetes and has been estimated that around 153
million patients will suffer from diabetes in the year 2045. Thus there will be
a 74% increase in the number of patients suffering from diabetes. Moreover, in
Middle East and North Africa, around 55 million people are suffering from
diabetes and it has been estimated that approximately 108 million people will
suffer from diabetes in the year 2045. Thus there will be a 96% rise in the
number of patients suffering from diabetes. The above factors are expected to
boost the global insulin pumps market growth over the forecast period.
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Insulin pump is a portable
device, which can be attached to the body and can continuously deliver preset
amounts of short or rapid acting insulin in the body to control diabetes.
Insulin therapy is required in type 1 diabetes and sometime in type 2 diabetes.
It serves as an effective alternative to insulin injections. Furthermore,
insulin pump delivers the insulin according to the need of body as basal rate,
where small amount of insulin is delivered continuously whole day for
maintaining normal function of body that is programmed by health care
professionals. Whereas, for bolus dose, the additional dose of insulin
required, according to the food supply to correct the blood sugar level of the
body. Insulin pump comprises main pump unit that holds insulin reservoir i.e.
176-300 units of insulin. There are various types of insulin used to treat
diabetes such as rapid, short, intermediate, and long acting insulin.
The major factors that are
expected to drive growth of the market include increasing prevalence of
diabetes, awareness about diabetes, and types of insulin and different methods
to deliver insulin. Insulin pump device are small and durable. Insulin pumps
are user friendly, as they can be programmed easily and LCD screen is available
for display of programs. Moreover, battery compartment and reservoir
compartment is also compact. Insulin pump are highly portable and it makes the
delivery easy. Furthermore, number of insulin injection are reduced due to
insulin pumps. Whereas, there is precise delivery of insulin by using insulin
pumps to gain better control on diabetes.
The increasing prevalence of
diabetes is expected to fuel growth of the insulin pump market over the
forecast period. For instance, according to the International Diabetes
Federation, in 2019, around 463 million people, in the age group of 20 to 79
years were reported to be suffering from diabetes and it has been estimated
that by 2045, the number of diabetes patients will rise to 700 million.
Moreover, according to the same source, in 2019 diabetes caused around 4.2
million deaths. The cases of people suffering from type 1 diabetes is
increasing in most of the countries and around 374 million people are expected
to suffer from type 2 diabetes. Furthermore, over 1.1 children and adolescents
are currently suffering from type 1 diabetes. In 2019, around US$ 760 billion
dollars were spent by the U.S. government for diabetes as healthcare
expenditure.
Insulin Pumps Market –
Competitive Analysis
Key players operating in the
insulin pump market include Medtronics, Braun Melsungen Abbott Laboratories,
Becton, Dickinson and Company, Sanofi, Insulet Corporation, and Hoffmann-La
Roche AG.
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Key Developments
In January 2020, Tandem Diabetes
Care Inc., launched t:slim X2 insulin pump with Control-IQ technology. The
system collectively works with Dexcom G6 continuous glucose monitoring (CGM),
which helps to deliver automatic correction insulin dose to help prevent
fluctuation in blood sugar.
In October 2019, Novo Nordisk
received the U.S. Food and Drug Administration (U.S. FDA) approval for the use
of Fiasp (insulin aspart injection) 100 u/mL in insulin infusion pumps for
improvement of glycemic control in adults with type 1 or type 2 diabetes.
In June 2019, Medtronic and
Tidepool entered into a partnership to develop an automated insulin pump
system. Medtronic plans to develop a Bluetooth-enabled MiniMed pump that would
be compatible with Tidepool Loop which is an open-source, automated insulin
delivery app for iPhone and Apple Watch
In March 2019, Medtronic plc
launched MiniMed 670G system. It is the first personalized system, which
automatically delivers the insulin dose 24 hours a day, in order to avoid
hypoglycaemia and hyperglycaemia. The system consist of SmartGuard Auto Mode
and the continuous glucose monitor (CGM) (Guardian Sensor 3).
In 2018, Medtronic plc received
license from Health Canada for the launch of MiniMed 670G system, which
stabilizes glucose level 24 hours a day by automatically adjusting the insulin
delivery based on patient insulin needs. This system is beneficial for the
patients suffering from type-1 diabetes.
In 2017, Eli Lily, initiated the
clinical trial for the automated insulin delivery system. It is the hybrid
closed loop system, which is connected to insulin pump, a dosing algorithm, and
a continuous glucose monitor. The manufacturer is expected to initiate the
clinical trials for the two systems: automated insulin delivery system and
integrated insulin management system. Both the systems will be used for the
patients suffering from type 1 and type 2 diabetes.
In 2016, Animas Corporation (a
subsidiary of Johnson & Johnson Diabetes Care Companies (JJDCC)), received
the U.S. FDA approval and Health Canada’s approval for the sale of OneTouch
Vibe Plus Insulin Pump and Continuous Glucose Monitoring (CGM) System for the
treatment of diabetes patients ages two and older.
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