Insulin Pumps Market – RegionalAnalysis
North America is expected to holda dominant position in the global InsulinPumps Market over the forecast period, owing to the increasing prevalenceof diabetes in the U.S. population. For instance, according to AmericanDiabetes Association, 2018, in 2018, around 34.2 million U.S. population werereported to have diabetes. Out of which, 26.8 million were diagnosed and 7.3million were undiagnosed. Moreover, 14.3 million people constitutes the olderpopulation (above the age of 65 years) are suffering from diabetes. Moreover,diabetes is the seventh leading cause of death in the U.S. population witharound 76,000 deaths annually in the U.S. every year.
Additionally, reimbursementspolicies provided by the government to the patients is expected to fuel theglobal insulin pumps market growth over the forecast period. For instance,according to the Centers for Disease Control and Prevalence (CDC), 2018, in theU.S., Diabetes Self-Management Education and Support (DSMES), provideseducation for the patients for increasing their knowledge and skills for themanagement of diabetes. DSMES are funded by Medicaid, which aids in reducingthe health care cost of the patients.
In addition, there is risingprevalence of diabetes in middle and low income regions that is expected todrive growth of the insulin pumps market. For instance, according toInternational Diabetes Federation, 2018, in South-East Asia, around, 88 millionpeople are suffering from diabetes and has been estimated that around 153million patients will suffer from diabetes in the year 2045. Thus there will bea 74% increase in the number of patients suffering from diabetes. Moreover, inMiddle East and North Africa, around 55 million people are suffering fromdiabetes and it has been estimated that approximately 108 million people willsuffer from diabetes in the year 2045. Thus there will be a 96% rise in thenumber of patients suffering from diabetes. The above factors are expected toboost the global insulin pumps market growth over the forecast period.
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Insulin pump is a portabledevice, which can be attached to the body and can continuously deliver presetamounts 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 formaintaining normal function of body that is programmed by health careprofessionals. Whereas, for bolus dose, the additional dose of insulinrequired, according to the food supply to correct the blood sugar level of thebody. 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 treatdiabetes such as rapid, short, intermediate, and long acting insulin.
The major factors that areexpected to drive growth of the market include increasing prevalence ofdiabetes, awareness about diabetes, and types of insulin and different methodsto deliver insulin. Insulin pump device are small and durable. Insulin pumpsare user friendly, as they can be programmed easily and LCD screen is availablefor display of programs. Moreover, battery compartment and reservoircompartment is also compact. Insulin pump are highly portable and it makes thedelivery easy. Furthermore, number of insulin injection are reduced due toinsulin pumps. Whereas, there is precise delivery of insulin by using insulinpumps to gain better control on diabetes.
The increasing prevalence ofdiabetes is expected to fuel growth of the insulin pump market over theforecast period. For instance, according to the International DiabetesFederation, in 2019, around 463 million people, in the age group of 20 to 79years were reported to be suffering from diabetes and it has been estimatedthat by 2045, the number of diabetes patients will rise to 700 million.Moreover, according to the same source, in 2019 diabetes caused around 4.2million deaths. The cases of people suffering from type 1 diabetes isincreasing in most of the countries and around 374 million people are expectedto suffer from type 2 diabetes. Furthermore, over 1.1 children and adolescentsare currently suffering from type 1 diabetes. In 2019, around US$ 760 billiondollars were spent by the U.S. government for diabetes as healthcareexpenditure.
Insulin Pumps Market –Competitive Analysis
Key players operating in theinsulin pump market include Medtronics, Braun Melsungen Abbott Laboratories,Becton, Dickinson and Company, Sanofi, Insulet Corporation, and Hoffmann-LaRoche AG.
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Key Developments
In January 2020, Tandem DiabetesCare Inc., launched t:slim X2 insulin pump with Control-IQ technology. Thesystem collectively works with Dexcom G6 continuous glucose monitoring (CGM),which helps to deliver automatic correction insulin dose to help preventfluctuation in blood sugar.
In October 2019, Novo Nordiskreceived the U.S. Food and Drug Administration (U.S. FDA) approval for the useof Fiasp (insulin aspart injection) 100 u/mL in insulin infusion pumps forimprovement of glycemic control in adults with type 1 or type 2 diabetes.
In June 2019, Medtronic andTidepool entered into a partnership to develop an automated insulin pumpsystem. Medtronic plans to develop a Bluetooth-enabled MiniMed pump that wouldbe compatible with Tidepool Loop which is an open-source, automated insulindelivery app for iPhone and Apple Watch
In March 2019, Medtronic plclaunched MiniMed 670G system. It is the first personalized system, whichautomatically delivers the insulin dose 24 hours a day, in order to avoidhypoglycaemia and hyperglycaemia. The system consist of SmartGuard Auto Modeand the continuous glucose monitor (CGM) (Guardian Sensor 3).
In 2018, Medtronic plc receivedlicense from Health Canada for the launch of MiniMed 670G system, whichstabilizes glucose level 24 hours a day by automatically adjusting the insulindelivery based on patient insulin needs. This system is beneficial for thepatients suffering from type-1 diabetes.
In 2017, Eli Lily, initiated theclinical trial for the automated insulin delivery system. It is the hybridclosed loop system, which is connected to insulin pump, a dosing algorithm, anda continuous glucose monitor. The manufacturer is expected to initiate theclinical trials for the two systems: automated insulin delivery system andintegrated insulin management system. Both the systems will be used for thepatients suffering from type 1 and type 2 diabetes.
In 2016, Animas Corporation (asubsidiary of Johnson & Johnson Diabetes Care Companies (JJDCC)), receivedthe U.S. FDA approval and Health Canada’s approval for the sale of OneTouchVibe Plus Insulin Pump and Continuous Glucose Monitoring (CGM) System for thetreatment of diabetes patients ages two and older.
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