Global Insulin Pump Market – Overview
The Global Insulin Pump Market report explores the some of the prominent players at the forefront of competition as Braun Melsungen AG, F. Hoffmann-La Roche AG, Medtronics, Abbott Laboratories, Becton, Dickinson and Company, Sanofi, and Insulet Corporation are some of the prominent players at the forefront of competition.
The Global Insulin Pump Market is growing with the rapid pace; mainly due to the increasing prevalence of diabetic population According to a recent study report published by the Market Research Future, The Global market of Insulin Pump is booming and expected to gain prominence over the forecast period. The Insulin Pump market is projected to raise up to USD 8520.9 Million by end of 2023, at a staggering CAGR of 8.4 % between 2017 and 2023.
Continuous Subcutaneous Insulin, or the Insulin Pump, has picked up popularity and advancement as a physiologic programmable technique for insulin delivery which is adaptable and life style friendly. Furthermore, the introduction of constant observing with glucose sensors gives exceptional access to, and forecast of, a patient's blood glucose levels. Research and development is in progress to coordinate the two technologies, from "sensor-augmented" and "sensor-driven" pumps to a completely automated and independent sensing and delivery system.
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Global Insulin Pump Market - Key Players
Some of the key players in this market are:
• Braun Melsungen AG
• F. Hoffmann-La Roche AG
• Medtronics
• Abbott Laboratories
• Becton, Dickinson and Company
• Sanofi
• Insulet Corporation
Global Insulin Pump Market - Segments
The Global Insulin Pump Market has been segmented on the basis of type and end use.
On the basis of type, the global insulin pump market is segmented into traditional and disposable insulin pumps. Traditional insulin pumps hold the largest share in the global insulin pump market and the segment is likely to hold a dominant share in the global insulin pump market over the forecast period, emerging with a valuation of USD 4587.5 million by the end of the forecast period.
By end use, the global insulin pump market is segmented into hospital and clinics, home care, and laboratories. Of these, home care is likely to be the fastest growing segment over the forecast period due to the growing demand from diabetes patients to manage their complications on their own in the confines of their own house. Many diabetes patients prefer the familiar environs of their home over the unfamiliarity of hospitals and prefer to carry out minor and simple monitoring procedures on their own. This is likely to drive the demand for home care in the healthcare sector over the forecast period, leading to an increase in the insulin pumps market. The home care segment is expected to exhibit a robust CAGR of 8.9% over the forecast period.
Industry/ Innovation/ Related News:
July 03, 2018 – Insulet Corporation (Canada), one of the leading companies involved in tubeless insulin pump technologies including Omnipod® Insulin Management System, announced that its Omnipod System had been selected as the preferred insulin pump for diabetic patients in the province, under the expanded British Columbia PharmaCare insulin pump program.
June 25, 2018 - Tandem Diabetes Care, a medical device company, and manufacturer of the only touch-screen insulin pumps available in the United States, announced receiving the approval from the U.S. FDA for its t: slim X2 Insulin Pump with Basal-IQ technology. Basal-IQ is predictive low glucose suspend (PLGS) feature designed to help reduce the frequency and duration of hypoglycemia.
June 22, 2018 - Medtronic, (Ireland) a leading global prescribed insulin pump company announced that the U.S. FDA has approved its MiniMed 670G hybrid closed-loop insulin pump system to be used for children between the age group of 7 and 13 and have Type 1 diabetes, an incurable autoimmune condition that prevents the pancreas from producing insulin.
Global Insulin Pump Market - Key Findings
• The Global Insulin Pump Market is expected to reach USD 8520.9 million by 2023.
• By types, Traditional insulin pump segment holds the largest market share of Global Insulin Pump market and is expected to reach USD 4587.5 million by 2023.
• By End User, Home Care segment is expected to grow at a fastest CAGR of 8.9%.
Global Insulin Pump Market - Regional Analysis
In 2016, the North America market accounted for the leading market globally, capturing the largest market share in 2016. Factors supporting the market growth include increasing technological advancements in the healthcare industry and growing diabetic population in the region.
The Europe Insulin Pump market is expected to reach USD 2,784.5 million by 2023, growing at a CAGR of 8.7% during the review period.
Asia Pacific Insulin Pump market emerging as one of the promising markets is expected to grow at 8.9% CAGR during the forecast period 2017-2023.
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