Implantable Insulin Pump Market - Forecast(2024 - 2030)
Implantable Insulin Pump Market Overview
Implantable
Insulin Pump Market size is estimated at $15.8 billion in 2020, projected to
grow at a CAGR of 5.8% during the forecast period 2021-2026. IIPs (implanted
insulin pumps) is a type of diabetes treatment that is implanted into the body.
Patients with an IIP require repeated surgical treatments to maintain adequate Blood
glucose monitoring control. It's a pump that stays inside the body all time.
IIPs can administer insulin into the peritoneal cavity, which has a dense
network of blood arteries and hence absorbs insulin quickly. The rising
prevalence of diabetes, the development of numerous forms of insulin like
insulin pod, and rising awareness of diabetes and insulin-delivery devices are
all driving Implantable Insulin Pump market's growth. Individuals with
insulin-dependent diabetes mellitus who use IIPs for a long time see
considerable improvements in clinical indices and quality of life. Pump
maintenance necessitates relatively frequent operations, which are performed
under local anaesthesia with minimum morbidity. Furthermore, an insulin pump
inserted in the peritoneal cavity aids in efficient insulin absorption and
maintenance of Blood glucose monitoring. The introduction of implantable
insulin pumps is expected to change Type 1 diabetes therapy, as well as aid in
the development of a constructive solution for a fully functional artificial
pancreas. Furthermore, the development of artificial pancreas and home infusion
therapy is assisting in the growth of Implantable Insulin Pump industry.
Implantable Insulin Pump Market Report Coverage
The report: “Implantable Insulin Pump Market Forecast
(2021-2026)”, by Industry ARC, covers an in-depth analysis of the following
segments of the Implantable Insulin Pump Market.
By Product
Type: Closed-Loop Insulin Pump and Open-Loop Insulin
Pump.
By End User: Hospitals/Clinics,
Homecare, Research Institutes and Others.
By
Geography: North America
(U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and
Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia &
New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and
Rest of South America) and RoW (Middle East and Africa).
Key Takeaways
- Rising healthcare providers and increasing incidence of diabetes along with enhancement on Blood glucose monitoring devices is likely to fuel the Implantable Insulin Pump industry's expansion.
- Geographically, Europe Implantable Insulin Pump Market held the largest revenue share in 2020 owing to favorable government policies on Implantable Insulin Pump products in the region. The scope of the Implantable Insulin Pump Market for various regions will be provided in the final report.
- The market's growth will also be fuelled by ongoing research and advancements in product type is pushing the Implantable Insulin Pump industry forward during the forecast period 2021-2026.
- Fluctuating cost of raw material for Implantable Insulin Pump and changes in government policies results in variation in demand needs which is poised to create hurdles for the Implantable Insulin Pump Market.
Implantable Insulin Pump Market: Market Share (%) by Region, 2020
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Implantable Insulin Pump Market Segment Analysis – By Product Type
Based on Product Type, Closed-Loop
Insulin Pump Segment accounted for the largest
revenue market share in 2020 and is also anticipated to grow with the fastest
CAGR of 7.3% in the forecast period 2021-2026. Closed loop insulin pumps, also
known as "artificial pancreas," are insulin pumps that are linked
together to respond automatically to readings from a continuous Blood glucose
monitoring that the user must wear throughout the day. It is able to detect the
insulin requirement in real time and provide the appropriate insulin amount
through insulin pod. It would be able to adjust the infusion rate when the
patient's activity level varies, and it would ideally be housed within the
patient's body, removing the need for external equipment. To adapt to changes
in blood glucose monitoring levels and guarantee that blood glucose levels stay
within acceptable levels, a thorough set of rules and algorithms is necessary,
and these pumps are currently in the research stage of development driving the
segment growth. Open-Loop Insulin Pump segment is anticipated to grow with the fastest
CAGR during the forecast period 2021-2026. In order to administer insulin, all
open loop delivery methods necessitate some amount of patient or clinician
involvement. This will necessitate a blood glucose test, a guess at the meal to
be ingested, and a calculation to arrive at an empirical estimate of the
insulin requirement. The open loop method, with the exception of the insulin
pump, requires a patient to live a predictable lifestyle in which his or her
meal is made particularly for the provided insulin bolus and exercise is
limited to the insulin received accelerating the segment growth in the forecast
period.
Implantable Insulin Pump Market Segment Analysis – By End Use
Based on End Use, Hospitals/Clinics
accounted for the largest revenue market share in 2020. This is owing
towards ease of availability experienced healthcare workers, increased
government funding, and increased private sector investment in the healthcare
industry for Blood glucose monitoring devices. Implantable insulin pod pumps
are currently considered novel, although they may provide better treatment
options for diabetics. The rise in the number of people suffering from
diabetes, as well as increased awareness of the many insulin treatments
available on the market, are driving the industry's expansion. Homecare is
projected to witness the fastest CAGR of 7.7% during the forecast period
2021-2026. The sector's rise can be linked to rising awareness regarding
the use of insulin pod pumps, as well as widespread adoption of these items at
home due to their ease of use. Moreover, throughout the forecast period, the
market is likely to be propelled by an increase in the use of patch pumps that
are small in size and convenient to carry.
Implantable Insulin Pump Market Segment Analysis – By Geography
Based on Geography, Europe Implantable Insulin Pump Market accounted for the 34.7%
revenue share in 2020. Pump used in paediatric populations in Europe has risen
dramatically in recent years, owing to evidence-based demonstrations of pump
therapy's benefits in the patients, like Blood glucose and led
to an international agreement on pump indications and practice. Despite the financial burden on healthcare insurance systems, a significant expansion of
insulin pod pump therapy based on consensus-based indications is still
expected, thanks to physicians' growing knowledge of technologies and patients'
growing interest in using technology to improve their diabetes control and
health-related quality of life. Thousands of people with diabetes use the
external pump, and the implanted pump is approved for artificial pancreas use
in Europe. The year-round availability of high-quality raw materials at
reasonable rates enable important manufacturers to sell Implantable Insulin
Pump at competitive prices, making it a big potential market for Implantable Insulin
Pump producers.
North America is predicted to be the fastest growing region during the forecast period 2021- 2026 owing to increased product developments and expansion over the projection period. The rising use of wireless technology in health monitoring devices, which improves simplicity of use, connectivity, and data analysis in the region propels the Implantable Insulin Pump Market. For instance, Cheetah Medical was acquired for $190 million by Baxter International Inc., in September 2019. With patient monitoring technology, this transaction is anticipated to broaden Baxter's product line and improve clinical outcomes.
Implantable Insulin Pump Market - Drivers
Rising Number Of Diabetic Patients And Technological Advancements In Insulin Pump:
The
rising number of diabetic patients and technological advancements in insulin
delivery devices is increasing the growth of the implantable insulin pump market.
In 2016, the World Health Organization (WHO) estimated that 1.6 million people
died as a result of diabetes. Diabetes is no longer limited to the elderly; it
now affects people of all ages. One of the main aspects propelling the insulin
pump market forward is the increasing number of diabetes cases around the
world. The market size for smart insulin pumps is expected to grow in tandem
with the decline in demand for traditional implantable insulin pod pumps,
according to estimates. Diabetes is a condition that happens when blood glucose
levels are abnormally high. Blood glucose is the most important source of
energy obtained from diet. Diabetes is defined as a chronic disease
characterized by unusually high blood sugar levels. The pancreas produces
insulin, which reduces blood glucose levels. Insulin deficiency is caused by a
lack of or insufficient production of insulin pods, which are used to treat
diabetes via blood glucose monitoring devices. Emerging technologies for improved
care of patients with diabetes include new methods for monitoring glucose,
including non-invasive, minimally invasive, continuous, and alternate site
measurement technologies; new methods for integrating Blood glucose monitoring and
insulin dosages. These new technologies are set to facilitate the proper
treatment of diabetes and improve the lives of affected patients, thereby,
aiding expansion to the Implantable Insulin Pump Industry.
Implantable Insulin Pump Market - Challenges
Device Safety Concerns:
The Implantable Insulin Pump Market's growth is hampered
by the stringent government regulations globally. Concerns about the safety of
implantable infusion pumps are a major impediment to the market's expansion. Although
the magnetic resonance system can aid in the diagnosis of a wide range of
ailments and diseases, patients with implantable infusion pumps should avoid
the MRI environment. In 2018, the US Food and Drug Administration obtained
proof of dangerous negative effects from the use of implanted infusion pumps in
the MR Field, including patient damage and death. As a result, safety concerns
about implantable infusion pumps are projected to impede the market's growth.
Implantable
Insulin Pump Market - Landscape
The Implantable Insulin Pump Market's main strategies include
product launches, mergers and acquisitions, joint ventures, and regional
expansion. Implantable Insulin Pump
Market top 10 companies are Johnson & Johnson, Tandem Diabetes Care, Inc., Medtronic,
Insulet Corporation, F. Hoffmann La Roche Ltd., Baxter International Inc.,
Ivenix, Inc., SOOIL Developments Co., Ltd. and Aetna Inc.
Acquisitions/Product Launches:
- In May 2021, Smiths Medical and Ivenix, Inc. have partnered to deliver a full suite of infusion management solutions to meet healthcare demands across the continuum of care in the United States. The long-term deal, which includes a strategic investment from Smiths Medical, brings together two innovators who share the goal of improving infusion management to improve patient safety and meet the demands of healthcare providers.
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LIST OF TABLES
1.Global GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY TYPE Market 2023-2030 ($M)1.1 CLOSED-LOOP INSULIN PUMP Market 2023-2030 ($M) - Global Industry Research
1.2 OPEN-LOOP INSULIN PUMP Market 2023-2030 ($M) - Global Industry Research
2.Global GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY END USER Market 2023-2030 ($M)
2.1 HOSPITALS Market 2023-2030 ($M) - Global Industry Research
2.2 INDIVIDUALS Market 2023-2030 ($M) - Global Industry Research
3.Global GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY TYPE Market 2023-2030 (Volume/Units)
3.1 CLOSED-LOOP INSULIN PUMP Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 OPEN-LOOP INSULIN PUMP Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY END USER Market 2023-2030 (Volume/Units)
4.1 HOSPITALS Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 INDIVIDUALS Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY TYPE Market 2023-2030 ($M)
5.1 CLOSED-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
5.2 OPEN-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
6.North America GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY END USER Market 2023-2030 ($M)
6.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
6.2 INDIVIDUALS Market 2023-2030 ($M) - Regional Industry Research
7.South America GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY TYPE Market 2023-2030 ($M)
7.1 CLOSED-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
7.2 OPEN-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
8.South America GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY END USER Market 2023-2030 ($M)
8.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
8.2 INDIVIDUALS Market 2023-2030 ($M) - Regional Industry Research
9.Europe GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY TYPE Market 2023-2030 ($M)
9.1 CLOSED-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
9.2 OPEN-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
10.Europe GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY END USER Market 2023-2030 ($M)
10.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
10.2 INDIVIDUALS Market 2023-2030 ($M) - Regional Industry Research
11.APAC GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY TYPE Market 2023-2030 ($M)
11.1 CLOSED-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
11.2 OPEN-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
12.APAC GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY END USER Market 2023-2030 ($M)
12.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
12.2 INDIVIDUALS Market 2023-2030 ($M) - Regional Industry Research
13.MENA GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY TYPE Market 2023-2030 ($M)
13.1 CLOSED-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
13.2 OPEN-LOOP INSULIN PUMP Market 2023-2030 ($M) - Regional Industry Research
14.MENA GLOBAL IMPLANTABLE INSULIN PUMP MARKET, BY END USER Market 2023-2030 ($M)
14.1 HOSPITALS Market 2023-2030 ($M) - Regional Industry Research
14.2 INDIVIDUALS Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Implantable Insulin Pump Market Revenue, 2023-2030 ($M)2.Canada Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
3.Mexico Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
4.Brazil Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
5.Argentina Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
6.Peru Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
7.Colombia Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
8.Chile Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
9.Rest of South America Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
10.UK Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
11.Germany Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
12.France Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
13.Italy Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
14.Spain Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
15.Rest of Europe Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
16.China Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
17.India Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
18.Japan Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
19.South Korea Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
20.South Africa Implantable Insulin Pump Market Revenue, 2023-2030 ($M)
21.North America Implantable Insulin Pump By Application
22.South America Implantable Insulin Pump By Application
23.Europe Implantable Insulin Pump By Application
24.APAC Implantable Insulin Pump By Application
25.MENA Implantable Insulin Pump By Application
26.MEDTRONIC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.INSULET CORPORATION, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.F. HOFFMANN LA ROCHE LTD., Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.ANIMAS CORPORATION, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.SOOIL DEVELOPMENTS CO., LTD., Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.JOHNSON JOHNSON, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.TANDEM DIABETES CARE, INC., Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.AETNA INC., Sales /Revenue, 2015-2018 ($Mn/$Bn)