Insulin Pumps MarketSize and Trends

Insulin pump is a portable device, which can be attached to the body and can continuously deliver preset amounts of short or rapid acting insulin in the body to control diabetes. Insulin therapy is required in type 1 diabetes and sometime in type 2 diabetes. It serves as an effective alternative to insulin injections. Furthermore, insulin pump delivers the insulin according to the need of body as basal rate, where small amount of insulin is delivered continuously whole day for maintaining normal function of body that is programmed by health care professionals. Whereas, for bolus dose, the additional dose of insulin required, according to the food supply to correct the blood sugar level of the body. Insulin pump comprises main pump unit that holds insulin reservoir i.e. 176-300 units of insulin. There are various types of insulin used to treat diabetes such as rapid, short, intermediate, and long acting insulin.

The major factors that are expected to drive growth of the market include increasing prevalence of diabetes, awareness about diabetes, and types of insulin and different methods to deliver insulin. Insulin pump device are small and durable. Insulin pumps are user friendly, as they can be programmed easily and LCD screen is available for display of programs. Moreover, battery compartment and reservoir compartment is also compact. Insulin pump are highly portable and it makes the delivery easy. Furthermore, number of insulin injection are reduced due to insulin pumps. Whereas, there is precise delivery of insulin by using insulin pumps to gain better control on diabetes.

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