October 09, 2019
According to the latest study titled ‘Global Insulin Pump Market Research Report 2019’, available with Market Study Report LLC, the global insulin pump market is presumed to register significant growth by the year 2025.
An insulin pump is used for injecting insulin as the medication for diabetes mellitus. The administration process is known as continuous subcutaneous insulin infusion therapy. Increasing instances of diabetes around the globe will drive the insulin pump market growth in the upcoming years.
The insulin pump device is available in market with various configuration designs. A traditional pump comprises of batteries, controls, and processing module along with a disposable insulin reservoir, a disposable infusion set, a tubing system, and a cannula for hypodermic insertion.
The use of insulin pump becomes a viable alternative when compared with the daily multiple doses of insulin using syringes and pens. It also becomes an intensive insulin therapy when used in synchronization with carb counting and blood glucose monitoring.
According to the report, the global insulin pump market has expanded efficiently, with an average growth rate of 5.2% over the previous years. In the year 2016, the product market was worth US $1218 million and witnessed an annual production of 246,000 units. Decreasing price trend in insulin pump units will further propel the market growth over the forecast period.
Based on the product type, the insulin pump market is classified as normal pump and patch pump. The normal pump segment dominated the market with 82% share in 2016. While on the basis of application, the market is divided as type I diabetes and type II diabetes, where in type I diabetes contributed 81% market share in 2016, claims the report.
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Considering the geographical landscape, the insulin pump market is analyzed for four main regions including China, Europe, Japan, and North America.
The report provides insight about the ex-factory price, production capacity, revenue and market share for manufacturers. The prominent players of insulin pump market profiled in the report are covered as Valeritas, Medtronic, Roche, Tandem Diabetes care, SOOIL, Insulet Corp, Microport, and Johnson & Johnson.