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1017414

Global Disposable Insulin Pumps Market - 2021-2028

Published: | DataM Intelligence | 180 Pages | Delivery time: 2 business days

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Global Disposable Insulin Pumps Market - 2021-2028
Published: July 5, 2021
DataM Intelligence
Content info: 180 Pages
Delivery time: 2 business days
  • Description
  • Table of Contents

Market Overview

The global disposable insulin pumps market size was valued US$ XX billion in 2019 and is estimated to reach US$ XX billion by 2028, growing at a CAGR of XX % during the forecast period (2021-2028).

Disposable insulin pump is a disposable insulin delivery device that administers programmed doses of insulin for diabetes management.

Market Dynamics

The disposable insulin pumps market growth is driven by the increasing prevalence of diabetes and the growing inclination of the major diabetic populations toward use of advanced tools to manage their diabetes has led to a surge in demand for disposable insulin pumps.

Increasing prevalence of diabetes, is expected to drive the growth in the forecast period

The rising prevalence of diabetes is expected to fuel the growth of the disposable insulin pump market over the forecast period. For example, as per the International Diabetes Federation, around 463 million people in the age group of 20 to 79 years were reported to be suffering from diabetes in 2019, and it has been estimated that by 2045, the number will increase to 700 million. Furthermore, according to the same source, in 2019, diabetes caused around 4.2 million deaths. People with type 1 diabetes are increasing in most countries, and around 374 million people are expected to suffer from type 2 diabetes. Furthermore, over 1.1 children and adolescents currently have type 1 diabetes. In 2019, around 760 billion dollars were spent by the U.S. government for diabetes as healthcare expenditure.

Distinct advantages of disposable insulin pumps over the conventional therapies, is expected to drive the growth in the forecast period

Disposable insulin pumps are smaller than traditional insulin pumps and are more discrete and easier to use. Moreover, these pumps are more affordable than conventional insulin delivery devices, which generates more demand. These pumps are attached to the skin using an adhesive layer, and due to the microfluidic MEMS (micro-electro-mechanical system) technology that allows a tiny pump to be mounted on a disposable skin patch that can be replaced every 2 to 3 days to provide continuous insulin infusion, they require minimum monitoring. These pumps are usually integrated with blood glucose or a continuous glucose monitoring system.

High cost of disposable insulin pumps is likely to hamper the market growth

Modern drug delivery devices like insulin pumps can be expensive, with the average price hovering around $6,500, not including the disposable supplies that must be replenished regularly, such as infusion sets, cartridges, and batteries. This can be a burden to uninsured patients may restrict the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic is expected to impact the needle counter market negatively. Following the COVID-19 outbreak in December 2019, the disease has spread to over 100 countries globally, and the World Health Organization has declared it a public health emergency. According to the World Health Organization's report, the coronavirus (COVID-19) manifestation has resulted in more than 52.7 million infected individuals worldwide as of November 13, 2020. COVID-19 has affected every market globally and has also impacted the global needle counters market in the following ways; by directly affecting production and demand, creating disruptions in distribution channels, and its financial impact on firms and financial markets.

Segment Analysis

The closed-loop segment is expected to hold largest share in this market segment

The closed-loop system is a more sophisticated system, with a control algorithm adjusting insulin delivery (up and down) to real-time sensor glucose levels and other inputs, such as meal intake. The first commercial closed-loop system, the MiniMed 670G (Medtronic), was approved by the US Food and Drug Administration in September 2016 for use in people with type 1 diabetes aged 14 years and older.

For instance, in 2017, Eli Lily initiated the clinical trial for the automated insulin delivery system. The hybrid closed-loop system is connected to an insulin pump, a dosing algorithm, and a continuous glucose monitor. The manufacturer is expected to initiate the clinical trials for the two systems: an automated insulin delivery system and an integrated insulin management system. Both the systems will be used for patients suffering from type 1 and type 2 diabetes.

The hospital pharmacies segment is expected to hold largest share in this market segment

The hospital pharmacies held the largest share in the disposable insulin pumps market. This is mainly owing to increasing number of patients suffering from conditions which are treated in hospitals equipped with advanced infrastructure and adequate facilities. Moreover, growing number of hospitals along with adequate reimbursement policies and the prescription for the required insulin dosage is also provided by doctors in hospitals is contributing to the growth of this segment.

Geographical Analysis

North America region holds the largest market share of global disposable insulin pumps market

The North American region is expected to hold a dominant position in the global disposable insulin pumps market over the forecast period, owing to the increasing prevalence of diabetes in the U.S. population. For instance, according to American Diabetes Association, 2018, in 2018, around 34.2 million U.S. population were reported to have diabetes. Out of which, 26.8 million were diagnosed, and 7.3 million were undiagnosed. Moreover, 14.3 million people constitute the older population (above the age of 65 years) are suffering from diabetes. Moreover, diabetes is the seventh leading cause of death in the U.S. population, with around 76,000 deaths annually in the U.S. every year.

Additionally, reimbursements policies provided by the government to the patients are expected to fuel the global disposable insulin pumps market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevalence (CDC), 2018, in the U.S., Diabetes Self-Management Education and Support (DSMES) provides education for the patients for increasing their knowledge and skills for the management of diabetes. DSMES are funded by Medicaid, which aids in reducing the health care cost of the patients.

Competitive Landscape

The global disposable insulin pumps market is highly competitive with presence of global companies. Some of the key players which are contributing to the growth of the market include Medtronic, Insulet Corporation, Roche, Animas Corporation, SOOIL Development, Tandem Diabetes Care, Debiotech, Asante Solutions, Shinmyung Mediyes, Twobiens. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, In January 2020, Tandem Diabetes Care Inc., launched t:slim X2 insulin pump with Control-IQ technology. The system collectively works with Dexcom G6 continuous glucose monitoring (CGM), which helps to deliver automatic correction insulin dose to help prevent fluctuation in blood sugar.

Key Companies to Watch

Medtronic plc

Overview: Medtronic plc is a key medical device company. Its headquarters are in Dublin, Ireland. Its operational headquarters are in Fridley, Minnesota. Medtronic operates in more than 140 countries. It employs over 85,000 people and has more than 53,000 patents. In 2001, Medtronic bought diabetes market leader MiniMed, where a team of biomedical engineers had developed a continuous glucose monitor - a key component of a closed-loop diabetes management system.

Product Portfolio: The Company's portfolio comprised of include Cardiac and Vascular, Minimally Invasive Therapies, Restorative Therapies, and Diabetes, and each group is separated into business divisions that deliver a wide range of medical technologies, therapies, services, and solutions.

Key developments: In June 2019, Medtronic and Tidepool entered into a partnership to develop an automated insulin pump system. Medtronic plans to develop a Bluetooth-enabled MiniMed pump that would be compatible with Tidepool Loop which is an open-source, automated insulin delivery app for iPhone and Apple Watch.

Why Purchase the Report?

  • Visualize the composition of the disposable insulin pumps market segmentation by product type, distribution channel and region highlighting the key commercial assets and players.
  • Identify commercial opportunities in disposable insulin pumps market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of disposable insulin pumps market - level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

The global disposable insulin pumps market report would provide an access to an approx. 53 market data table, 41 figures and 200 pages.

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

Market Segmentation

Global Disposable Insulin Pumps Market - By Product Type

  • Closed-Loop
  • Open-Loop

Global Disposable Insulin Pumps Market - By Distribution Channel

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

Global Disposable Insulin Pumps Market - By Region

  • North America
  • Europe
  • Asia-Pacific
  • Middle East & Africa
  • South America
Product Code: DMMD3522

Table of Contents

1. Global Disposable Insulin Pumps Market Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2. Global Disposable Insulin Pumps Market - Market Definition and Overview

3. Global Disposable Insulin Pumps Market - Executive Summary

  • 3.1. Market Snippet by Product Type
  • 3.2. Market Snippet by Distribution Channel
  • 3.3. Market Snippet by Region

4. Global Disposable Insulin Pumps Market - Market Dynamics

  • 4.1. Market Impacting Factors
    • 4.1.1. Drivers
      • 4.1.1.1. Increasing prevalence of diabetes
      • 4.1.1.2. Distinct advantages of disposable insulin pumps over the conventional therapies
    • 4.1.2. Restraints:
      • 4.1.2.1. High cost of disposable insulin pumps
    • 4.1.3. Opportunity
    • 4.1.4. Impact Analysis

5. Global Disposable Insulin Pumps Market - Industry Analysis

  • 5.1. Porter's Five Forces Analysis
  • 5.2. PEST Analysis
  • 5.3. Supply Chain Analysis
  • 5.4. Pricing Analysis
  • 5.5. Regulatory Analysis
  • 5.6. Reimbursement Analysis
  • 5.7. Unmet Needs

6. Global Disposable Insulin Pumps Market - COVID-19 Analysis

  • 6.1. Analysis of Covid-19 on the Market
    • 6.1.1. Before COVID-19 Market Scenario
    • 6.1.2. Present COVID-19 Market Scenario
    • 6.1.3. After COVID-19 or Future Scenario
  • 6.2. Pricing Dynamics Amid Covid-19
  • 6.3. Demand-Supply Spectrum
  • 6.4. Government Initiatives Related to the Market During Pandemic
  • 6.5. Manufacturers Strategic Initiatives
  • 6.6. Conclusion

7. Global Disposable Insulin Pumps Market - By Product Type

  • 7.1. Introduction
    • 7.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 7.1.2. Market Attractiveness Index, By Product Type
  • 7.2. Closed-Loop*
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis, US$ Million, 2018-2028 and Y-o-Y Growth Analysis (%), 2020-2028
  • 7.3. Open-Loop

8. Global Disposable Insulin Pumps Market - By Distribution Channel

  • 8.1. Introduction
    • 8.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Distribution channel Segment
    • 8.1.2. Market Attractiveness Index, By Distribution channel Segment
  • 8.2. Hospital Pharmacies*
    • 8.2.1. Introduction
    • 8.2.2. Market Size Analysis, US$ Million, 2018-2028 and Y-o-Y Growth Analysis (%), 2020-2028
  • 8.3. Retail Pharmacies
  • 8.4. Online Pharmacies

9. Global Disposable Insulin Pumps Market - By Region

  • 9.1. Introduction
    • 9.1.1. Market Size Analysis, US$ Million, 2018-2028 and Y-o-Y Growth Analysis (%), 2020-2028, By Region
    • 9.1.2. Market Attractiveness Index, By Region
  • 9.2. North America
    • 9.2.1. Introduction
    • 9.2.2. Key Region-Specific Dynamics
    • 9.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Distribution Channel
    • 9.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.2.5.1. U.S.
      • 9.2.5.2. Canada
      • 9.2.5.3. Mexico
  • 9.3. Europe
    • 9.3.1. Introduction
    • 9.3.2. Key Region-Specific Dynamics
    • 9.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Distribution Channel
    • 9.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.3.5.1. Germany
      • 9.3.5.2. U.K.
      • 9.3.5.3. France
      • 9.3.5.4. Italy
      • 9.3.5.5. Spain
      • 9.3.5.6. Rest of Europe
  • 9.4. South America
    • 9.4.1. Introduction
    • 9.4.2. Key Region-Specific Dynamics
    • 9.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Distribution Channel
    • 9.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.4.5.1. Brazil
      • 9.4.5.2. Argentina
      • 9.4.5.3. Rest of South America
  • 9.5. Asia Pacific
    • 9.5.1. Introduction
    • 9.5.2. Key Region-Specific Dynamics
    • 9.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Distribution Channel
    • 9.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.5.5.1. China
      • 9.5.5.2. India
      • 9.5.5.3. Japan
      • 9.5.5.4. Australia
      • 9.5.5.5. Rest of Asia Pacific
  • 9.6. Middle East and Africa
    • 9.6.1. Introduction
    • 9.6.2. Key Region-Specific Dynamics
    • 9.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Distribution Channel

10. Global Disposable Insulin Pumps Market - Competitive Landscape

  • 10.1. Key Developments and Strategies
  • 10.2. Company Share Analysis
  • 10.3. Product Benchmarking
  • 10.4. Key Companies to Watch
  • 10.5. Company with disruptive technology
  • 10.6. Start Up Companies

11. Global Disposable Insulin Pumps Market- Company Profiles

  • 11.1. Medtronic*
    • 11.1.1. Company Overview
    • 11.1.2. Product Portfolio and Description
    • 11.1.3. Key Highlights
    • 11.1.4. Financial Overview
  • 11.2. Insulet Corporation
  • 11.3. Roche
  • 11.4. Animas Corporation
  • 11.5. SOOIL Development
  • 11.6. Tandem Diabetes Care
  • 11.7. Debiotech
  • 11.8. Asante Solutions
  • 11.9. Shinmyung Mediyes
  • 11.10. Twobiens
  • 11.11. Wuhan Union Medical Technology Co., Ltd.
  • 11.12. Shenzhen Medrena Biotech Co., Ltd.
  • 11.13. Guangzhou Medsinglong Medical Equipment Co., Ltd.
  • 11.14. MEDSINGLONG CO LTD

LIST NOT EXHAUSTIVE

12. Global Disposable Insulin Pumps Market - DataM

  • 12.1. Appendix
  • 12.2. About Us and Services
  • 12.3. Contact Us