Tubeless Insulin Pump Market Overview, Growth Forecast, Demand and Development Research Report to 2027
Category: #business  By Rahul Sankrityayan  Date: 2022-03-25
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Tubeless Insulin Pump Market Overview, Growth Forecast, Demand and Development Research Report to 2027

The tubeless insulin pump market share is slated to rise with the increasing implementation of expansion strategies by leading industry players for gaining a competitive advantage.

The recent years have witnessed the rollout of technologically advanced products that have led to the transformation of diabetes management. The market growth is propelled by continuous efforts of organizations towards the development and launch of innovative products that help in providing ease in blood glucose level monitoring and insulin delivery with an active lifestyle.

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The launch of wearable and Bluetooth-enabled devices having continuous glucose monitoring systems enables insulin delivery and real-time monitoring at the required stage. Impelled by similar developments and as per the latest study conducted by Global Market Insights, Inc., the tubeless insulin pump market share is expected to exceed a valuation of USD 8 billion through 2027.

Major companies across the industry comprise Tandem Diabetes Care, Insulet Corporation, F. Hoffman La-Roche, Medtronic, and others. These companies are practicing strategic formulations comprising forward integration, product launch, product development, vertical integration, and others for maintaining their position in the market.

For instance, in August 2021, Insulet Corporation secured FDA clearance for the deployment of Eli Lilly and Company’s Lyumjev units/mL along with Insulet’s Omnipod DASH Insulin Management System and Omnipod Management System.

Increasing product demand across hospitals

The industry growth is propelled by consistent escalation in patient visits diagnosed with diabetes and surging awareness regarding the availability of advanced products among professionals working in hospitals.

The preference for diabetes diagnosis and treatment in hospitals is expected to increase with rise in patient satisfaction, high-quality care, and the availability of skilled professionals. Owing to these factors, the market share from hospitals accounted for over USD 105 million in 2020 and will register appreciable growth over the forecast period.

Rising demand for pod/patch tubeless insulin pump devices

Pod/patch devices offer numerous advantages of continuous subcutaneous insulin infusion (CSII) therapy in comparison to conventional insulin devices. Furthermore, the systems have innovative designs and features that enable patients in the management of their diabetes with ease, comfort, and convenience.

The pod/patch manages patient personalized insulin delivery in a wireless manner and stores insulin efficiently. In addition, the integrated software allows the calculation of suggested doses & insulin and offers up to 3 days of consistent insulin delivery.

Owing to these parameters, the pod/patch segment is expected to exceed a commendable revenue of over USD 4,812 million over the estimated period.

Asia Pacific tubeless insulin pump industry – prospects of expansion through 2027

The APAC market driven by China is anticipated to surpass USD 628 million through 2027. The industry growth is propelled by the increasing geriatric population and surging prevalence of diabetes across the country.

The domestic government and different organizations are coming up with numerous initiatives and campaigns. This is opening up avenues for numerous tubeless insulin pump manufacturers for the introduction of novel devices.

Citing an instance, the CDS (Chinese Diabetes Society) has introduced various campaigns for enhancing the awareness of diabetes and promoting the knowledge of diabetes to general public. Such favorable initiatives are expected to elevate the requirement for tubeless insulin pump for the maintenance of good health of patients.

In a nutshell, the growing number of diabetes patients is expected to boost product demand over the forecast period.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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