Tubeless Insulin Pump Market growth outlook with industry review and forecasts
Category: #health  By Rahul Varpe  Date: 2020-04-22
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Tubeless Insulin Pump Market growth outlook with industry review and forecasts

Tubeless Insulin Pump Market is expected to exceed USD 2.5 billion by 2025. Escalating number of diabetic patients coupled with rising preference for non-invasive treatments are leading to high demand for tubeless insulin pumps.

Some major findings of the tubeless insulin pump market report include:

  • The demand for tubeless insulin pump is increasing across the globe due to increasing technological advancements in insulin pumps for enhanced administration of insulin
  • Increasing government initiatives and symposiums to create awareness about efficient diabetes care in North America region is expected to drive the market growth
  • Increasing consumer preference for painless insulin administration is expected to provide lucrative opportunities to industry expansion
  • Major players operating in the tubeless insulin pump market are Cellnovo Group SA, Medtrum Technologies Inc, Insulet Corporation, Roche Holdings AG and Johnson & Johnson etc. among other market players
  • Companies are introducing technologically advanced tubeless insulin pumps with app integration and Bluetooth wireless technology for accurate diagnosis and timely administration to gain competitive edge over the competitors

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  • Tubeless insulin pump providers in developed countries are focusing on development of innovative insulin delivery pumps that are light-weight, closed-loop and delivers insulin continuously for upto few days

Rising prevalence of diabetes and comorbidities will accelerate the adoption of tubeless insulin pump systems for better care and treatment of the disease. According to the National Diabetes Statistics, approximately 30.3 million people suffered from diabetes in the U.S. in 2015. Thus, with increasing awareness coupled with growing incidence of diabetes, its risk factors & associated disorders will drive the adoption rate of tubeless insulin pumps in the forthcoming years.

Increasing government initiatives in order to raise awareness about diabetes management and reimbursement policies in developed countries is poised to impel the market growth. Government initiatives are further aiding tubeless insulin pump providers to track patient healthcare data and provide tubeless insulin pump treatment with subsidy to low-income population. However, lack of awareness about advanced treatment procedures and high long-term treatment cost will restrict its adoption rate, thus limiting the industry growth.

Pod/patch tubeless insulin pump segment will witness over 24.0% CAGR over the forecast years. Benefits such as less pain involved and better convenience in insulin delivery will form the major factors for higher product preference. Companies are focusing on developing insulin insertion sets and high insulin reservoirs for topical distribution of insulin. For instance, Insulet Corporation announced launch of Omnipod DASH. This system provides Bluetooth wireless technology and mobile application base for easy monitoring of insulin. Such advantages coupled with growing number of products in developmental phase will boost the segmental expansion.

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Pharmacies segment held an estimated revenue size of about USD 134.6 million in 2018, while the demand for tubeless insulin pumps in pharmacies is estimated to increase over the forthcoming years. The segment holds robust growth potential due to its greater accessibility to the patients and expanding number of pharmacies across the globe. Moreover, need for continuous care among diabetes patients and growing preference for novel devices for decreasing insulin injections on daily basis will further escalate the demand over the forthcoming years.

U.S. tubeless insulin pumps market will foresee rapid progress owing to growing adoption of tubeless insulin pumps by working professionals to ease insulin administration procedure and avoid pain. Several government initiatives & symposiums coupled with increasing awareness about diabetes care management aid in driving the adoption of advanced diabetes management devices. Moreover, market players operating in the country are majorly focusing on the developing high-end devices. Thus, with increasing innovations and entry of new market players, the U.S. tubeless insulin pumps industry will witness lucrative growth in the analysis period.

Companies are making large investment in advancing technology such as incorporating new diagnostic features and miniaturization in the device. Also, leading players are implementing novel product launch, collaborations and geographical expansion strategies to further facilitate higher profits and lucrative market share in the industry.



About Author

Rahul Varpe

Email: [email protected]   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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