Type 1 Diabetes Segment to Dominate the United States Insulin Pumps Market
Increasing demand for minimally invasive treatment and rise in chronic disorders is expected to drive the United States insulin pumps market for the forecast period.
According to TechSci Research report, “United States Insulin Pumps Market By Type (Traditional Insulin Pumps v/s Patch Pumps) By Insulin Used (Short Acting Insulin v/s Rapid Acting Insulin) By Application (Type 1 Diabetes v/s Type 2 Diabetes) By End User (Hospitals & Clinics, Diagnostic Centers, Home Care), By Region, Company Forecast & Opportunities, 2026”, the United States insulin pumps market is expected to witness significant growth for the next five years. Insulin pump are medical devices used to administer the insulin level present in body to control diabetes. Rise in people suffering from diabetes and surge in awareness regarding the benefits of using insulin pumps is a contributing factor expected to strengthen the market. Insulin pumps can be easily controlled by pushing buttons and the biggest advantage of using insulin pumps is that it can be set to deliver insulin with different rates at different time of the day according to the need of the individual. Using insulin pumps is very easy and causes less difficulty while delivering insulin to the human body therefore it provides more flexibility to choose the desired food item without the fear of needles. Rapidly changing lifestyle and consumption of alcohol and smoking causing diabetes is expected to accelerate the demand for insulin pumps. Change in dietary preference coupled with growing preference for packaged food and ready to eat food items containing preservatives and artificial ingredients is affecting the health adversely. Favorable reimbursement policies offered by government to promote healthcare industry is expected to propel the demand of insulin pumps in United States.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected several countries adversely. Leading authorities in United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. United States authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. Rise in cases of people suffering from diabetes boosted the sales of insulin pumps. Diabetic people are indulging through various modes such as hospital pharmacies, medical shops and through online channels to buy critical medical devices.
However, side-effects of insulin pumps such as skin infections and high cost of insulin pumps may create hindrance in the growth of the insulin pumps market.
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United States insulin pumps market is segmented into type, insulin used, application, end user, regional distribution, and company. Based on type, market can be divided into traditional insulin pumps and patch pumps. The traditional insulin pumps type segment is expected to account for major market share for the forecast period, 2022-2026. These are readily available in the market and highly reliable in nature. Based on application, market can be divided into type 1 diabetes and type 2 diabetes. The type 1 diabetes application segment is expected to dominate the market for the next five years due to rising prevalence of type 1 diabetes. Patients suffering from type 1 diabetes are not able to produce insulin in their body by themselves therefore need for insulin pumps is highest for this segment.
Medtronic USA, Inc, Roche Diagnostics Corporation, Becton, Dickinson and Company, B. Braun Medical Inc., Abbott Laboratories, Inc., Insulet Corporation, Tandem Diabetes Care, Inc., Nipro Medical Corporation are the leading players operating in United States insulin pumps market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several insulin pumps manufacturers are coming up with their technologically advanced offerings.
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“Market players are focusing on research and development activities to advance the existing infrastructure of insulin pumps and develop new generation insulin pumps. These new generation insulin pumps are safe, convenient, provide precise results and the integration with digital technology enables patient to address the health-related issues remotely and share the patient’s data for proper treatment. Home infusion therapy and artificial pancreas are some of the technological advancements which is expected to fuel the demand for insulin pumps in United States. Adoption of smart technologies such as artificial intelligence and machine learning can improve the performance of insulin pumps and prevent the need for rapid re-adjustments which is expected to propel the demand for insulin pump till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Insulin Pumps Market By Type (Traditional Insulin Pumps v/s Patch Pumps) By Insulin Used (Short Acting Insulin v/s Rapid Acting Insulin) By Application (Type 1 Diabetes v/s Type 2 Diabetes) By End User (Hospitals & Clinics, Diagnostic Centers, Home Care), By Region, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of United States insulin pumps market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of United States insulin pumps market.
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