Diabetes Management: Insulin Pumps Market
Valued at nearly $3bn in 2017, the Insulin Pumps Market is growing at nearly 10%, one of the highest growth medical device markets today.
Market growth is driven by the increasing global prevalence of diabetes (425 million adults worldwide today, increasing to 629 million by 2045) and the pressing need to control spiraling healthcare costs due to diabetes-related complications, supported by strong clinical evidence that intensive insulin therapy using automated insulin pumps reduces long-term costs and improves clinical outcomes.
The market is being positively impacted by technological innovation, including the commercial launch and increased adoption of the world’s first artificial pancreas (AP) or hybrid-closed loop insulin pump—Medtronic’s MiniMed 670G—as well as good growth of other tube-based, tubeless and patch-pod based systems offered by smaller competitors (eg Insulet, Tandem Diabetes Care). Over the next 2-5 years, new competitive, next-generation AP technologies developed by several innovative startups, if successfully launched, may broaden consumer choice and threaten Medtronic’s dominant market share.
This report provides the following useful information:
- prevalence of diabetes
- automated insulin pump portfolios offered by leading manufacturers
- new and emerging hybrid closed-loop/artificial pancreas systems
- key technological and market trends
- market and competitive analysis (including 5-year market forecast and 2017 market share by region)
Markets covered by this analysis include the US, Japan, the five major EU markets (France, Germany, Italy, Spain, and the UK), and the Rest of World (RoW) markets, which includes all other countries.