Consistent adoption to offer better care and treatment on account of the rising incidences of comorbidities will anchor the tubeless insulin pump market forecast.
Consistent adoption to offer better care and treatment on account of the rising incidences of comorbidities will anchor the tubeless insulin pump market forecast. The surge in the instances of diabetics has resulted in a higher consumer preference for non-invasive treatments. The National Diabetes Statistics estimated that over 30.3 million individuals in the U.S. were affected by diabetes in 2015. Various technological progressions in the pumps have also urged the affected individuals to opt for painless and enhanced insulin administration.
Favorable government initiatives have been regulated to increase awareness regarding diabetes management and its reimbursement policies across the developed regions like North America. This can be owed to the rising rate of diabetes & other associated disorders along with their risk factors. Furthermore, these initiatives are also assisting the product suppliers to track patient healthcare data as well as to render treatment to the affected individuals by offering subsidies to the low-income population base.
A research report compiled by Global Market Insights, Inc., states that the global tubeless insulin pump market size will reach over USD 2.5 billion in terms of annual revenue by 2025.
Convenient insulin delivery through pod/patch components
Industry share of pod/patch tubeless insulin pumps is anticipated to rise at a 24% CAGR over the coming years. This can be attributed to the increasing preference for these components as they offer advantages like minimum pain and ease of convenience in insulin delivery. Solution providers are coming up with insertion sets as well as high reservoirs to offer topical distribution of the insulin. For instance, Insulet Corporation introduced Omnipod DASH, a Bluetooth wireless technology deployed device that offers easy monitoring of insulin.
Pharmacies to record significant distribution
The demand for tubeless insulin pumps in pharmacies exceeded a global remuneration of over USD 134.6 million in 2018. The tubeless insulin pump market is estimated to rise through 2025 owing to the increasing number of pharmacies across the world. There is an easy availability of various tubeless insulin pump options for diabetes patients across these facilities considering the incessant requirement for continuous care. Besides, the increasing need for novel devices to limit insulin injections on a daily scenario will enhance the consumption of tubeless insulin pumps through these distribution channels.
To access sample pages of this report titled, “Tubeless Insulin Pump Market Size By Component (Pod/Patch, Remote), By Distribution Channel (Hospitals, Pharmacies, E-commerce), Industry Analysis Report, Country Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/2032
The U.S. as a promising market
The tubeless insulin pumps market across the U.S. region is anticipated to observe significant inclination over the next few years. This can be owed to the rising demand registered for the pumps by working professionals to offer an easy and painless insulin administration procedure. Numerous government initiatives & symposiums formulated across the country have pushed the regional tubeless insulin pump market participants to introduce advanced diabetes management devices. This higher penetration of the devices along with growing innovations and a surge in the number of product manufacturers will drive the consumption of the pumps across the region.
Advanced technologies to drive innovations
Suppliers of tubeless insulin pumps are incorporating latest technologies with app integration as well as Bluetooth wireless technology to offer an accurate diagnosis and timely administration of the affected individuals. They are making large investments to come up with new diagnostic features and miniaturization of the devices albeit with the present COVID-19 pandemic. Furthermore, these firms are focusing on novel product developments and strategic collaborations for geographical expansion and to sustain competition.
For instance, In February 2020, Abbott inked a collaboration deal with Insulet Corporation to offer a new, automated diabetes health platform. Through this move, Abbott will incorporate its continuous glucose monitoring system with Insulet’s tubeless insulin pump. The tubeless insulin pump market players are Cellnovo Group SA, Medtrum Technologies Inc, Roche Holdings AG, and Johnson & Johnson.
Providers of tubeless insulin pumps across developed countries are introducing innovative devices that are closed loop as well as lightweight, to continuously supply insulin for over a few days. However, the dearth of awareness pertaining to the advanced treatment procedures and their associated higher costs will hamper the product demand to a certain extent.
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