Tubeless Insulin Pump Market is expected to reach $2,837.6 million by 2026 and E-commerce segment will possess high investment opportunities in the Forecast period

1 Global Tubeless Insulin Pump Market Overview

Over the past few decades, a million of people with diabetes have counted on insulin pumps to measure the drug that keeps the blood sugar in check. Looking at the current world scenario, there are around 371 million people that are affected by diabetes. A new research report, Tubeless Insulin Pump Market, published by Research Dive forecast the global market growth is projected to a CAGR of 23.4% generating a revenue of $ 2,837.6 million by 2026. This states that a huge amount of the world population is suffering from this chronic disease that is caused due to inappropriate functioning of pancreas. Diabetes is responsible for the production of insulin hormones. The tubeless insulin pump is a convenient, effective and portable device that aids in controlling the blood glucose level of the patient.

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2 Benefits of Tubeless Insulin Pump

The tubeless insulin pump is flexible medical device that is used in controlling the blood glucose level of the user. The device helps diabetes patients get rid of daily dosage of multiple injections. In addition, it offers a constant, controlled flow of insulin into the body and have gained popularity since past few years. The tubeless insulin pump offers significant benefits such as more accuracy than shots, improves A1c levels, and easy to handle.

Tubeless insulin pump has been found valuable for those who have hypoglycemia, as it helps in having fewer blood sugar levels. Being a vital component in the diabetic health, this insulin pump also benefits in managing early morning high blood sugar, also called the "dawn phenomenon." An insulin pump can help fix this owing to its feasibility to give specific doses of one's choice at every single hour of the day. This cannot be accomplished with insulin pens.

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Since, tubeless insulin pump is essential in keeping the blood sugar levels in control, its chief benefit is that it can be integrated with CGMS. In order to indicate low blood sugars, alarms can also be initiated in the device. When fully understood the working of tubeless insulin pump, the diabetic patient can have a much tighter control of the diabetes.

People have to adjust to their daily lives when making use of traditional insulin pumps to manage their diabetes. Insulet Corporation has changed that by introducing Omnipod in the tubeless insulin pump industry. They have made diabetic patients adapt their day-to-day lives to live uncomfortably with a tubed pump.

3 Application Areas of Tubeless Insulin Pump Market

From hospitals to pharmacies and even e-commerce, the use of tubeless insulin pump is progressively gaining importance in many industrial sectors. In 2016, Eli Lilly & Company and a U.S. based pharmaceutical firm, Insulet Corporation signed an agreement for developing a new tubeless insulin delivery system; Omnipod. The purpose was to distribute highly concentrated U200 and U500 formulations of insulin. The prominent players of the market are implementing several strategies such as joint ventures, mergers, and acquisitions to develop a strong position in the global market. Moreover, tubeless insulin pumps have become increasingly connected and flexible over the past few years in the e-commerce sector. The consumers are highly attracted to the economic benefits offered by these channels and are preferring over purchases through the traditional offline channels.

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In 2019, the FDA granted its first-ever marketing authorization to U.S based medical device manufacturer, Tandem Diabetes Care for its interoperable insulin pump manufactured. The insulin pump is a compatible automatic insulin dosing system with blood glucose meters, continuous glucose monitors, and used for other diabetes therapy. The "T Slim X2" insulin pump is the first of a novel medical device group named 'ACE infusion pumps' (Alternate Controller Enabled). The device can be used by both children and adults with diabetes. The device can independently infuse insulin on its own and once connected can automatically receive insulin dosing commands from a diabetes management device.

4 Future of Tubeless Insulin Pump Market

Global tubeless insulin pump market is quite competitive in nature. Several applications of tubeless insulin pump in hospitals, e-commerce, pharmacies, and others are thrusting the growth of tubeless insulin pump market.
Over the years, insulin pumps have remained largely unchanged, leaving the device ripe for innovation. People using traditional insulin pumps often have to adjust their everyday lives to manage their diabetes for living comfortably. Today, with several research and development in the medical field, the tubeless insulin pump has made it simpler for the people with diabetes, and Omnipod is one such device. It is a Bluetooth-enabled touchscreen and waterproof tubeless insulin device. The small device is a lightweight, disposable pod that can be positioned anywhere on the user's body and can be worn up to three days. The growing occurrence of diabetes cases in patients and its simpler to use benefit is expected to boost the demand for tubeless insulin pump market in the near future.

Rising population of diabetes cases, decrease in demand for the traditional insulin pumps that caused infection, and technology advancements is expected to drive the market growth in the upcoming years. This can be backed by statistics offered by a research report from Research Dive. The report states, the global tubeless insulin pump market is expected to grow with a growth rate of 23.4% from 2019 to 2026. The report also highlights the top players operating in this market are:

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5 Key Players in the Market

o Medtrum Technologies Inc
o Insulet Corporation
o Debiotech
o Johnson & Johnson
o Rosh Holding AG
o Cellnovo Group SA
o Veleritas
o Abbott Diabetes Care
o Spring Health Solution Ltd.
o CeQur SA.

On the other hand, increasing government initiatives to raise awareness globally about diabetes management and Medicare policies are sure to fuel the market growth. Hence, it is clear that be it e-commerce industry, hospitals or pharma companies the applications of tubeless insulin pump are rising day by day and will surely boost the market growth in the coming future.

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This release was published on openPR.