Insulin Pump Market Size, Global Industry Analysis, Applications, Segmentations & Forecast by 2025

Insulin Pump Market Overview:

Diabetes is a disease in which the pancreas is not able to produce enough insulin or when the body cannot use the insulin effectively. Insulin is the hormone responsible for the glucose absorption into the cells. The symptoms of diabetes are blurred vision, unusual thirst, increased hunger, frequent urination, rapid weight loss, and tingling sensation. Diabetes if not treated on time can cause complications such as heart attack, foot ulcers, vision loss, stroke, leg amputation, nerve damage, kidney failure and damage to the eyes or even death. There are three types of diabetes, namely, type 1, type 2 and gestational diabetes. In type 1 diabetes the body cannot produce enough insulin whereas in type 2, body cannot use the produced insulin. In gestational diabetes is seen in some women when they are pregnant. The risk factors for diabetes are physical inactiveness, have depression, high blood pressure, obesity, and family history of diabetes. Furthermore to control diabetes insulin is required. Insulin is released by the beta cells in response to the high blood glucose levels. Insulin thus allows maintenance of blood glucose level in optimum range. In type 1 diabetes the body no longer produces enough insulin as beta cells are destroyed.

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The insulin pump is a portable computerized device that helps in controlling diabetes. This pump releases insulin through a catheter into the body. Moreover, the user can adjust the amount of insulin delivered by this pump. Insulin pump consists of a main pump unit and infusion set. The main pump unit contains an insulin reservoir which has 176 to 300 units of insulin. The main pump is worn on the outside of the body. The main pump contains a tube which is made of plastic. This tube is connected to the insulin reservoir. Furthermore, infusions sets are made of steel or Teflon and are attached to the skin. For using an insulin pump, a hands-on training is required. The pumps deliver insulin in two ways. In the first way, the insulin is delivered as continuous dose. In the second way, insulin is delivered as a surge. Insulin pumps are used to deliver short or rapid acting insulin 24 hours a day. Insulin pumps are able to deliver insulin more accurately as compared to injections. While using insulin pump there are lesser hypoglycemic events and insulin pump offers better HbA1c control. Insulin pump reduces fluctuations in blood glucose, offers more flexibility with food and exercise. There are four types of insulin pumps, namely, patch pump, closed loop insulin pump, tethered pump and implanted insulin pump.

The major factor responsible for the growth of insulin pump market is rising prevalence of diabetes. According to IDF, in 2015, diabetes affected 415 million people worldwide. This number is expected to reach up to 642 million by 2040. Moreover, development of artificial pancreas will also facilitate the growth of this market. For instance, in October 2016, FDA approved first artificial pancreas. Medtronic’s MiniMed 670G is an artificial pancreas which monitors blood glucose level automatically. It measures blood glucose levels every 5 minutes. Furthermore, growing insulin delivering devices will also fuel the growth of this market. However, high cost of the insulin pumps can impede the growth of this market. Furthermore, dearth of skilled professional for appropriate handling of insulin pump further restricts the growth of this market. Moreover, presently research on oral insulin is going on which can hamper the growth of insulin pump market.

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The key strategy followed by the major market players in the insulin pump market is product launch in order to become a pioneer in the market and gain more share. For instance, in July 2015, UNIFLIFE CORPORATION launched Imperium, which is an instant patch pump for insulin. It is a disposable and prefilled wearable insulin pump which is used for continuous subcutaneous insulin infusion. By the launch of Imperium, UNILIFE CORPORATION will become a pioneer in the market and gain more share. The major players in the insulin pump market are SOOIL Development Co., Ltd., Cellnovo Limited, F. Hoffmann La-Roche Ltd., Tandem Diabetes Care, Inc., Insulet Corporation, Medtronic, Inc., and Animas Corporation.

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