Insulin Pumps Market Sales Volume, Sales Price, Sales Revenue Analysis
The essential factors driving the growth of this market is diabetes, awareness of diabetes, type of insulin and different methods to deliver insulin. Insulin pump device are small and durable. Insulin pumps are user friendly, as they can be programmed easily and LCD screen is available for display of programs. Battery compartment and reservoir compartment is also compact. Insulin pump provides more flexibility to lifestyle as it is highly portable. Number of injection are also reduced due insulin pumps. Whereas there is precise delivery of insulin to gain better control on diabetes.
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Insulin pump market taxonomy
-> Traditional insulin pumps
-> Disposable insulin pumps
-> Smart pumps
-> End Users
-> Home Care
Rising number of diabetes to fuel the growth of insulin pump market in the near future:
According to Lancet study 2016, there was four fold increase in number of diabetes 108 million in 1980 to 422 million in 2014 and half of them live in India, China, U.S., Brazil, and Indonesia. Rise in number of diabetic patient globally is expected to favor growth of the insulin pump market in the near future. There are two types of diabetes type 1 and type 2. In type 1 diabetes, immune systems destroys the cells in pancreas called as beta cells which are responsible for insulin production. So externally manufactured insulin needs to be provided by insulin pump to recover a person from diabetes which in turn is expected to favor the insulin pump market in the near future. In type 2 diabetes body does not use insulin properly it is also called as insulin resistance.
Key players operating in insulin pump market include:
-> Braun Melsungen Abbott Laboratories
-> Dickinson and Company
-> Insulet Corporation
-> Hoffmann-La Roche AG.
So type 2 diabetes patient need to take multiple shots of insulin which is provided by insulin pump as it is designed to deliver continuous amount of insulin 24 hrs. According to findings of various studies in 2015, insulin pump is a safe and valuable treatment option for diabetes. Other advantage of the insulin pump is that it frees you from having to measure insulin into a syringe. According to WHO the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. Which is further projects to favor growth of the insulin pump market in the near future. The above reasons are projected to provide significant traction in the growth of insulin pump market over the forecast period.
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