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Insulin Pumps – Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016
Insulin Pumps – Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016
The Global Insulin Pumps Market is Forecast to Reach $1,051m in 2016 after Growing at a CAGR of 9% During 2009-2016
Hyderabad,
AP,
India
(prbd.net)
20/07/2010
"Insulin Pumps – Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016"
The global insulin pumps market was valued at $586.4m in 2009, and is forecast to reach $1,051m in 2016 after growing at a Compound Annual Growth Rate (CAGR) of 9% from 2009 to 2016. The growth in the market is primarily being driven by increases in the elderly population and obesity rates, advances in technology (the emergence of an artificial pancreas and an insulin and glucagon delivery system) and rising patient awareness. Due to the advantages of flexibility and tighter control over glucose offered by insulin pumps to niche patient groups like pregnant women and children, the insulin pumps market has grown rapidly in the past few years.
The US insulin pumps market is expected to reach $843m in 2016, growing at a CAGR of 9% from 2009 to 2016. The traditional insulin pumps segment was valued at $394m in 2009 and the disposable insulin pumps segment was valued at $58.9m in 2009. The US remains the largest insulin pumps market. The insulin pumps market in the US is going to be driven by the increased penetration of well established players and next generation pumps such as artificial pancreases and the simultaneous delivery of insulin and glucagon.
Diabetes results in nearly four million deaths every year. The International Diabetes Federation (IDF) estimates that by 2025, nearly 380 million people worldwide will have diabetes. The diabetic population is going to grow in developing countries due to people leading more sedentary lives, changes in diet and urbanization. Seven out of the ten countries with the highest number of people with diabetes are in the developing world. China, India and the US constitute the majority of the diabetic population. The obesity rate has increased globally over the past few decades. Currently, more than one billion adults are overweight worldwide, which is a major risk factor for diabetes. This increases the prevalence of diabetes and is expected to drive the insulin pumps market.
The leader of the insulin pumps market is Medtronic with 58% of the market in 2009. Medtronic’s MiniMed Paradigm sells well in the insulin pumps market as it was the first insulin pump to be integrated with the company’s REAL-Time Continuous Glucose Monitoring (CGM) system and so provides tighter control over glucose levels and a better quality of life. Roche is the second largest company in the insulin pumps market with a market share of 12%. Roche’s Accucheck spirit insulin pump has shown strong growth in the insulin pumps market due to features such as three operating menus, four bolus options, five basal rate profiles and smaller size. MiniMed (Medtronic) and Disetronic Medical Systems (Roche) were major players in the insulin pumps segment until the year 2000. The market subsequently fragmented with the entry of companies such as Animas Corporation with its R1000 insulin pump and Deltec with its Cozmo insulin pump.
GlobalData’s medical equipment report, “Insulin Pumps – Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016” provides key data, information and analysis on the global insulin pumps market. The report provides market landscape, competitive landscape and market trends information the insulin pumps market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape, key pipeline products and technology offerings. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.
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