A research study titled, “Insulin Patch Pump Market by Type and Application - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that Insulin Patch Pump Market is expected to witness significant growth by 2025.
Market Scenario:
Insulin patch pump market is expected to experience significant growth in coming years between 2017 and 2025. The market is primarily driven by rising incidence of diabetes worldwide. Diabetes is on the rise globally with a steady increase around the world especially in the world’s middle-income countries. According to World Health Organization’s Global Report on Diabetes published in 2016, the global prevalence of diabetes has nearly doubled between 1980 and 2014, rising from 4.7% to 8.5% of the adult population. In terms of number of patients, the prevalence increased from 108 million in 1980 to 422 million cases in 2014. With increasing awareness among diabetics about technologically advanced devices for treating diabetes, the market for insulin patch pumps is expected to witness favorable growth during the forecast period. However, the complexity of such devices can sometimes prevent people from readily adopting them thus restraining the market growth.
Scope of the Report:
North America held a significant share of the insulin patch pump market in 2016 due to the availability of FDA approved insulin patch pumps such as the OmniPod Insulin Management System manufactured by Insulet Corporation and V-GO disposable insulin delivery device manufactured by Valeritas, Inc. The Asia-Pacific market has not experienced any substantial growth due to lack of large scale adoption of advanced therapies for diabetes management but can experience favorable growth in coming years owing to increasing awareness related to diabetes management in the region.
Insulin Patch Pump Market Segmentation:
By Type of Insulin:
- Basal Insulin
- Bolus Insulin
- Basal-Bolus Insulin
By End User:
- Hospitals
- Private clinics
- Online pharmacies
- Retail pharmacies
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