A recent report published by Infinium Global Research on the implantable insulin pump market provides an in-depth analysis of segments and sub-segments in the global as well as regional implantable insulin pump market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional implantable insulin pump market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global implantable insulin pump market. According to the report, the global implantable insulin pump market is projected to grow at a CAGR of 9.50% over the forecast period of 2021-2027.
An implantable insulin pump is a treatment option for certain patients with type 1 diabetes that helps to absorb insulin very efficiently. It is used when an external insulin pump has failed to stabilize their diabetes despite all proper medical and educational efforts. As compared to the external pump’s subcutaneous insulin delivery, the implanted pump provides an added efficacy for glycemic variability, hypoglycemia, and HbA1c.
The factors such as rise in base of geriatric population, increasing incidence rates of diabetes worldwide, benefits of implantable 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. Globally, the number of diabetes patients has been growing at a substantial rate over the past couple of decades and is expected to increase at the same rate in the future. Approximately 1.25 million Americans have Type 1 diabetes. By 2050, 5 million people are expected to be diagnosed with Type 1 diabetes, among them 6, 00,000 people will be under the age of 20. Moreover, implantable insulin pump technology can provide people with type 1 diabetes greater freedom to live their lives without having to consistently and manually monitor baseline glucose levels and administer insulin. Thus, the growing prevalence of diabetes is likely to have a positive impact on the demand for implantable insulin pumps market. However, a lengthy process of governmental approvals and compliance with rules and regulations is expected to restrain the market growth. Moreover, high growth potential in emerging markets is providing growth opportunities to the market players.
It has been seen that people with diabetes mellitus (DM) have an increased risk of contracting COVID-19 as well as a likely worsening of their diagnosis. This especially applies to patients with a long duration of diabetes, diabetes‐related complications, and irregular glycemic control. The COVID-19 pandemic has caused serious disruptions to the healthcare system and has revealed substantial healthcare disparities. Moreover, the hospitals gave preference to COVID-19 cases over patients with other less severe health conditions.
Geographically, North America is anticipated to hold a dominant share in the global implantable insulin pumps market owing to the growing prevalence of diabetes. As per the American Diabetes Association, every year there are around 1.5 million Americans are diagnosed with diabetes. The prevalence of diabetes among all ages in the European region is a major factor driving the growth of the implantable insulin pumps market. Europe governments are taking initiatives to create awareness about diabetes care among people which will, in turn, result in more awareness among people and will cause a demand for implantable insulin pumps market. Asia-Pacific region is expected to have the fastest growth owing to the growing diabetic population in developing countries.
The report on global implantable insulin pump market covers segments such as type, and end user. On the basis of type, the sub-markets include closed-loop insulin pump, and open-loop insulin pump. On the basis of end user, the sub-markets include hospitals, and home care.
The report provides profiles of the companies in the market such as CVS Health (Aetna Inc.), Diabeloop, Apex Medical Diamesco Co., Ltd, F. Hoffmann La Roche Ltd, Insulet Corporation, Johnson & Johnson, Medtronic Plc, Tandem Diabetes Care, and SOOIL Developments Co. Ltd..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of implantable insulin pump market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.