Published Date: August, 2017
The global market for insulin pumps was valued at around USD 2.3 billion in 2015 and is expected to reach USD 4.3 billion by 2022, growing at a CAGR of around 9.5% during the forecast period of 2016 to 2022. Insulin pumps are portable devices attached to the body that continuously deliver amounts of rapid or short acting insulin through a catheter placed under the skin. These are better alternative to insulin injections as they reduce the need for multiple insulin injections per day and give the user increased ability to control blood glucose levels. Approximately 1 in 1,000 people with diabetes wears an insulin pump. An insulin pump consists of the main pump unit which holds an insulin reservoir which typically holds between 176 and 300 units of insulin. The reservoir is attached to a long, thin piece of tubing with a needle or cannula at one end. The tubing and the bit at the end are called the infusion set. Insulin pump therapy is also referred to as continuous subcutaneous insulin infusion therapy.
Diabetes disease is growing across the globe at an extraordinary pace and has become a serious health issue during the last two decades. It is a major cause of mortality in the age group of 20–79 years. Based on its rapidly increasing incidence, it has been declared a global epidemic by the World Health Organization (WHO). According to the International Diabetes Federation (IDF), the number of diabetic patients reached 415 million in 2015 globally and is expected to reach around 642 million by 2040. According to the IDF, global healthcare expenditures to treat diabetes and its complications was USD 673 billion in 2015, representing 12% of total global healthcare expenditures and is expected to exceed USD 802 billion by 2040.
Rise in base of geriatric population, increasing incidence rates of diabetes worldwide, benefits of insulin pumps over injections such as improved glucose control, convenience, and flexibility; growing awareness among the population, and increasing preference for non-invasive methods are expected to drive the market at a significant growth rate in the coming years. However, skin infection, weight gain and high costs associated with these devices are some of the restraining factors which could hinder the market.
Geographically, North America is the leading contributor to the market and is expected to retain its position during the forecast period due to the presence of large number of geriatric population and large base of population with high purchasing power. However, Asia-Pacific market is expected to grow at a faster rate during the forecast period. This is predominantly due to increased healthcare awareness, improved economic growth, increasing number of obesity cases and growing awareness among the population.
The report delivers a strategic analysis of the global market for insulin pumps and growth forecast for the period from 2016 – 2022. The scope of the report includes competitive analysis of various market players who are operating in the market, segmental analysis based on type of component. It also covers geographical analysis of the market with growth forecast for the period of 2016 – 2022. The Porter’s Five Forces analysis and value chain analysis included in the report provides an insight into market dynamics and industry competition.
Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry and various business strategies adopted by them. This report will help players in global insulin pumps market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies
1. Scope of the report
1.1 Report description
1.2 Research methodology
1.3 List of abbreviations
1.4 Market segmentation
2 Executive summary
3 Qualitative analysis
3.1 Market overview
3.2 Porters five forces analysis
3.3 Cost comparison of insulin pumps
3.4 Top insulin pumps comparison
3.5 Market share analysis of key players, 2015
3.6 Competitive matrix of the key companies
4 Global insulin pumps market, by component, 2015 – 2022
4.1 Insulin pumps
4.2 Consumables (reservoirs, batteries, infusion sets, skin dressings, adhesives, and antiseptic wipe)
5 Global insulin pump market, by geography, 2015 – 2022
5.1 North America
5.1.1 Insulin pumps
5.1.2 Consumables (reservoirs, batteries, infusion sets, skin dressings, adhesives, and antiseptic wipe)
5.2.1 Insulin pumps
5.2.2 Consumables (reservoirs, batteries, infusion sets, skin dressings, adhesives, and antiseptic wipe)
5.3.1 Insulin pumps
5.3.2 Consumables (reservoirs, batteries, infusion sets, skin dressings, adhesives, and antiseptic wipe)
5.4 Rest of the World
5.4.1 Insulin pumps
5.4.2 Consumables (reservoirs, batteries, infusion sets, skin dressings, adhesives, and antiseptic wipe)
6 Company profiles
6.1 Insulet Corp.
6.2 Medtronic Diabetes
6.3 Roche Insulin Delivery Systems
6.4 SOOIL Development Co. Ltd.
6.5 Tandem Diabetes Care, Inc.
6.7 Nipro Diagnostic, Inc.
6.8 Animas Corp