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Global Insulin Pumps Industry (China-specific Market Assessment) – Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018–2024
Overview: An insulin pump is a device that contains a cartridge of rapid-acting insulin. Insulin infusion pumps work as an alternative to the traditional system of daily injections or an insulin pen. These reduce large swings in blood glucose level, deliver insulin more accurately when compared to injections, scheduling of meal timings is not required, and are less painful. These user-friendly properties of insulin pumps are making patients shift toward the use of infusion pumps.
According to the WHO estimates, the number of people with diabetes has increased from 108 million in 1980 to 422 million in 2014. The market for insulin pumps is growing due to increase in the number of diabetes cases among all age groups. The demand for insulin pumps is high due to varied features and functionalities.
The insulin pumps market has been segmented into traditional insulin pumps, disposable insulin pumps, smart pumps, insulin reservoirs, insulin infusion sets, and other devices. North America is leading with technological innovations, followed by Europe and Asia Pacific. Asia Pacific is expected to witness rapid growth during the forecast period due to increased incidence of diabetes in the region. However, the high cost of infusion pumps, development of oral insulin, and insulin aerosols in the form of inhalers can pose a challenge to the insulin pumps market in future.
Effects of Diabetes:
Nearly 3.5 million people die annually due to complications related to high blood sugar. Some of the adverse effects of diabetes are as follows:
- High risk of heart diseases and stroke.
- High risk for diabetic retinopathy.
- Increased risk of kidney failure; about 10–20% diabetics die due to renal failure.
- Individuals with diabetes often suffer from untreated anemia, which leads to fatigue and other health-related complications.
Incidence and Prevalence:
Diabetes is one of the most prominent non-communicable diseases prevailing globally. According to the seventh edition of IDF Atlas, in 2015, there were 415 million people with diabetes (aged 20–79 years), and the number is expected to reach 642 million by 2040.
Prevalence of Diabetes Population Forecasting by Region
Region 2015 (in millions) 2040 (in millions)
- North America and the Caribbean 44 61
- South and Central America 30 49
- Europe 60 71
- Middle East and North Africa 35 72
- Rest of Africa 14 34
- South East Asia 78 140
- Western Pacific 158 215
Market Analysis: The global insulin pumps market is estimated to witness a CAGR of 9.7% during the forecast period 2018–2024. Increased prevalence of diabetes, growing popularity of advanced insulin pumps, and the introduction of new technologies are driving the market growth. The market is analyzed based on three segments, namely product types, end-users, and regions.
Regional Analysis: The regions covered in the report are North America, Europe, Asia Pacific, and Rest of the World (ROW). North America is set to be the leading region for the insulin pumps market growth followed by Europe. Asia Pacific and ROW are set to be the emerging regions. The emerging markets have a high potential to grow owing to an increase in patient population and focus toward healthcare infrastructure.
The insulin pumps market has the lowest penetration in emerging regions, and most of the vendors are targeting India, Thailand, Indonesia, and Vietnam. These countries are the major revenue contributors in the APAC region. A higher incidence of obesity will fuel the market expansion, which will result in the high prevalence of diabetes. Around 114.1 million people in China are suffering from diabetes (type 1 & type 2), among which type 2 diabetes is more prevalent. China lacks innovative technologies and access to current trends in diabetes management, which further adds to the growth of diabetic population in the region. However, the high cost of insulin pumps, expensive consumables cost, lack of proper reimbursement policies, lack of awareness about insulin pumps in developing countries will have a significant impact on the overall market growth.
Product Analysis: Tethered insulin pump is dominating with more than 70% of the market share. Tethered insulin pumps have a long flexible tube and are the most common pumps used among diabetic patients. Increasing aging population, rise in prevalence of diabetes, need for early prevention of diseases, and growing awareness about a healthy lifestyle are expected to drive the market growth. The high cost of insulin pumps is the primary concern and challenge to the market. Many insurance providers do not have complete reimbursement for insulin pumps, and the usage of these pumps is subjective to the insurance provider in most of the developed countries. An insulin pump is cost-effective only if it is covered under health insurance.
Key Players: Insulet Corp., Medtronic plc, MicroPort Scientific Corp., F. Hoffmann-La Roche (Roche) Ltd., Tandem Diabetes Care, and other predominate & niche players.
Competitive Analysis: The insulin pumps market is highly fragmented and has immense growth opportunities for vendors, especially in developing regions. The market has the presence of many global, regional, and local players with strong competition among each other.
Benefits: The report provides complete details about the usage and adoption rate of insulin pumps for the treatment of diabetes. Thus, the key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, and government initiatives toward insulin pumps in the upcoming years along with details of the pureplay companies entering the market. Moreover, the report provides details about the major challenges that are going to impact the market growth. Additionally, the report gives complete details about the key business opportunities to key stakeholders in order to expand their business and capture the revenue in specific verticals, and to analyze before investing or expanding the business in this market.
Table of Contents
1 Industry Outlook
1.1 Patient Demographics
1.2 Healthcare Spending in the US
1.3 Definition: Insulin Pump
1.4 Diabetic Overview
1.5 Insulin Pump Definition – Infoholic Research
1.6 Importance of Insulin Pump
1.7 Industry Trends
1.8 Pest Analysis
2 Report Outline
2.1 Report Scope
2.2 Report Summary
2.3 Research Methodology
2.4 Report Assumptions
3 Market Snapshot
3.1 Total Addressable Market (TAM)
3.2 Segmented Addressable Market (SAM)
3.3 China Insulin Pump Market
3.4 Healthcare in China
3.5 Competitive Scenario
3.6 Related Markets
3.6.1 Ultrasound Devices
3.6.2 Medical X-ray Equipment
3.6.3 MRI Equipment
3.7 Porter 5(Five) Forces
4 Market Characteristics
4.1 Evolution
4.2 Insulin Pumps Therapy Advantages
4.3 Insulin Pumps Therapy Disadvantages
4.4 Role of Insulin Pumps in Healthcare
4.5 Market Dynamics
4.5.1 Drivers
4.5.1.1 Huge Surge in Aging Population
4.5.1.2 Increase in Awareness
4.5.1.3 Increasing Number of Diabetic Patients
4.5.1.4 Rising Incidences of Government Initiatives
4.5.2 Opportunities
4.5.2.1 Technological advances in insulin pump
4.5.2.2 Insulin Pumps replacing traditional Methods
4.5.2.3 Increasing partnership and collaboration activities
4.5.2.4 Focus on early diabetes management
4.5.2.5 Rapid growth in emerging countries
4.5.3 Restraints
4.5.3.1 High price of latest insulin pumps
4.5.3.2 Unfavorable reimbursement plans
4.5.3.3 Availability of substitutes
4.5.3.4 Competition among major vendors
4.5.4 DRO – Impact Analysis
4.5.5 Key Stakeholders
5 Types: Market Size and Analysis
5.1 Overview
5.2 Tethered insulin pump
5.3 Untethered insulin pumps
5.4 Implantable insulin pump
6 End User: Market Size and Analysis
6.1 Overview
6.2 Hospitals
6.3 Homecare
6.4 Clinics
6.5 Others (nursing homes and medical offices)
7 Regions: Market Size and Analysis
7.1 Overview
7.2 North America
7.3 Europe
7.4 APAC
7.5 Rest of the World
8 Market Attractiveness
8.1 Market Attractiveness by Products
8.2 Market Attractiveness by End Users
9 Competitive Landscape
9.1 Overview
10 Product Matrix
11 Vendor Profiles
11.1 Insulet Corp.
11.1.1 Overview
11.1.2 Business Unit
11.1.3 Geographic Presence
11.1.4 Business Focus
11.1.5 SWOT Analysis
11.1.6 Business Strategy
11.2 Medtronic Plc
11.2.1 Overview
11.2.2 Business Unit
11.2.3 Geographic Presence
11.2.4 Business Focus
11.2.5 SWOT Analysis
11.2.6 Business Strategy
11.3 MicroPort Scientific Corporation
11.3.1 Overview
11.3.2 Business Units
11.3.3 Geographic Presence
11.3.4 Business Focus
11.3.5 SWOT Analysis
11.3.6 Business Strategies
11.4 F.Hoffmann-La Roche Ltd
11.4.1 Overview
11.4.2 Business Unit
11.4.3 Geographic Presence
11.4.4 Business Focus
11.4.5 SWOT Analysis
11.4.6 Business Strategy
11.5 Tandem Diabetes Care, Inc
11.5.1 Overview
11.5.2 Business Focus
11.5.3 SWOT Analysis
11.5.4 Business Strategy
12 Companies to Watch For
12.1 Eli Lilly and Company
12.1.1 Overview
12.2 Animas Corp.
12.2.1 Overview
12.3 Sooil Development Co., Ltd.
12.3.1 Overview
12.4 Ypsomed Holding AG
12.4.1 Overview
12.5 Valeritas, Inc
12.5.1 Overview
12.6 GlySens ICGM
12.6.1 Overview
12.7 Abbreviations
Tables
TABLE 1 PREVALENCE OF DIEBETES POPULATION FORECASTING BY REGION
TABLE 2 INSULIN PUMPS PRICING 2015
TABLE 3 CONSUMABLES PRICING
TABLE 1 DRO (CHINA)
TABLE 2 ESTIMATED PERCENTAGE INCREASE IN AGING POPULATION 2015–2035
TABLE 3 INSULIN PUMPS PRICING
TABLE 4 WORLDWIDE AND CHINA INSULIN PUMPS MARKET BY END-USERS
TABLE 5 WORLDWIDE AND CHINA INSULIN PUMPS MARKET REVENUE BY REGIONS, 2017–2024 ($MILLION)
TABLE 6 DRO: NORTH AMERICA
TABLE 7 DRO (EUROPE)
TABLE 8 DRO: APAC
TABLE 9 DRO: ROW
TABLE 10 WORLDWIDE AND CHINA INSULIN PUMPS MARKET BY VENDOR RANKING, 2016
TABLE 11 INSULET CORP.: PRODUCT OFFERINGS
TABLE 12 INSULET CORP.: RECENT DEVELOPMENTS
TABLE 13 MEDTRONIC PLC: OFFERINGS
TABLE 14 MEDTRONIC PLC: RECENT DEVELOPMENTS
TABLE 15 MICROPORT SCIENTIFIC: OFFERINGS
TABLE 16 MICROPORT SCIENTIFIC CORPORATION: RECENT DEVELOPMENTS
TABLE 17 F. HOFFMANN-LA ROCHE: OFFERINGS
TABLE 18 F. HOFFMANN-LA ROCHE.: RECENT DEVELOPMENTS
TABLE 19 TANDEM DIABETES CARE, INC: RECENT DEVELOPMENTS
TABLE 20 TANDEM DIABETES CARE, INC: RECENT DEVELOPMENTS
TABLE 21 ELI LILLY AND COMPANY: SNAPSHOT
TABLE 22 ELI LILLY AND COMPANY: RECENT DEVELOPMENTS
TABLE 23 ANIMAS CORP.: RECENT DEVELOPMENTS
TABLE 24 SOOIL DEVELOPMENT CO., LTD.: SNAPSHOT
TABLE 25 SOOIL DEVELOPMENT CO., LTD.: RECENT DEVELOPMENTS
TABLE 26 YPSOMED HOLDING AG: SNAPSHOT
TABLE 27 YPSOMED HOLDING AG: RECENT DEVELOPMENTS
TABLE 28 VALERITAS, INC: SNAPSHOT
TABLE 29 VALERITAS, INC: RECENT DEVELOPMENTS
TABLE 30 GLYSENS ICGM: SNAPSHOT
TABLE 31 GLYSENS ICGMS: RECENT DEVELOPMENTS
Charts
CHART 1 GLOBAL MEDICAL DEVICES MARKET SEGMENTATION
CHART 2 AGING DEMOGRAPHIC GROWTH
CHART 3 US POPULATION DISTRIBUTION BY AGE (US, CENSUS BUREAU, CMS 2015)
CHART 4 US HEALTHCARE CONSUMPTION BY AGE (US, CENSUS BUREAU, CMS 2015)
CHART 5 WORLD POPULATION AGED 65 YEARS AND ABOVE, 1960–2060 (%)
CHART 6 PEST ANALYSIS OF WORLDWIDE AND CHINA INSULIN PUMPS MARKET
CHART 7 RESEARCH METHODOLOGY OF WORLDWIDE AND CHINA INSULIN PUMPS MARKET
CHART 8 DIABETES CARE DEVICES MARKET SEGMENTATION
CHART 9 WORDWIDE DIABETIC POPULATION BY REGION IN 2017-2045 (AGED 20 – 79 YEARS)
CHART 10 WORLDWIDE AND CHINA INSULIN PUMPS MARKET REVENUE FORECAST, 2017–2024 ($MILLION)
CHART 11 WORLDWIDE AND CHINA INSULIN PUMPS MARKET BY SEGMENTATION
CHART 12 CHINA INSULIN PUMPS MARKET REVENUE FORECAST, 2017–2024 ($MILLION)
CHART 13 NUMBER OF MEDICAL INSTITUTIONS IN CHINA 2015
CHART 14 PORTER 5 FORCES ON WORLDWIDE AND CHINA INSULIN PUMPS MARKET
CHART 15 INSULIN PUMP ORGANISATION
CHART 16 DRO – IMPACT ANALYSIS OF WORLDWIDE AND CHINA INSULIN PUMP MARKET
CHART 17 KEY STAKEHOLDERS
CHART 18 WORLDWIDE AND CHINA INSULIN PUMPS MARKET BY TYPE SEGMENTATION, 2017 (%)
CHART 19 WORLDWIDE AND CHINA INSULIN PUMPS MARKET BY END-USER SEGMENTATION, 2017 (%)
CHART 20 WORLDWIDE AND CHINA INSULIN PUMPS MARKET BY END-USER SEGMENTATION, 2024 (%)
CHART 21 WORLDWIDE AND CHINA INSULIN PUMPS MARKET BY GEOGRAPHICAL SEGMENTATION, 2017 (%)
CHART 22 WORLDWIDE AND CHINA INSULIN PUMP MARKET BY GEOGRAPHICAL SEGMENTATION, 2024(%)
CHART 23 INSULIN PUMPS MARKET REVENUE IN NORTH AMERICA, 2017–2024 ($MILLION)
CHART 24 INSULIN PUMPS MARKET REVENUE IN THE EUROPE REGION, 2017–2024 ($MILLION)
CHART 25 INSULIN PUMPS MARKET REVENUE IN THE APAC REGION, 2016–2023 ($MILLION)
CHART 26 INSULIN PUMPS MARKET REVENUE IN ROW REGION, 2017–2024 ($MILLION)
CHART 27 WORLDWIDE AND CHINA INSULIN PUMPS MARKET SEGMENTATION BY GEOGRAPHY, 2017-2024 ($MILLION)
CHART 28 GLOBAL NURSE CALL SYSTEMS MARKET SEGMENTATION BY GEOGRAPHY, 2016-2023 (% SHARE)
CHART 29 MARKET ATTRACTIVENESS BY TOP PRODUCTS TYPES
CHART 30 MARKET ATTRACTIVENESS BY END-USERS
CHART 31 INSULET CORP.: OVERVIEW SNAPSHOT
CHART 32 INSULET CORP.: BUSINESS UNITS
CHART 33 INSULET CORP.: GEOGRAPHIC PRESENCE
CHART 34 INSULET CORP.: SWOT ANALYSIS
CHART 35 MEDTRONIC PLC: OVERVIEW SNAPSHOT
CHART 36 MEDTRONIC PLC: BUSINESS UNITS
CHART 37 MEDTRONIC PLC: GEOGRAPHICAL PRESENCE
CHART 38 MEDTRONIC PLC: SWOT ANALYSIS
CHART 39 MICROPORT SCIENTIFIC CORPORATION: OVERVIEW SNAPSHOT
CHART 40 MICROPORT SCIENTIFIC CORPORATION: BUSINESS UNITS
CHART 41 MICROPORT SCIENTIFIC CORPORATION: GEOGRAPHIC PRESENCE
CHART 42 MICROPORT SCIENTIFIC CORPORATION: SWOT ANALYSIS
CHART 43 F. HOFFMANN-LA ROCHE: OVERVIEW SNAPSHOT
CHART 44 F. HOFFMANN.LA ROCHE.: BUSINESS UNITS
CHART 45 F. HOFFMANN-LA ROCHE GEOGRAPHICAL PRESENCE
CHART 46 F. HOFFMANN-LA ROCHE: SWOT ANALYSIS
CHART 47 TANDEM DIABETES CARE, INC: OVERVIEW SNAPSHOT
CHART 48 TANDEM DIABETES CARE, INC: SWOT ANALYSIS
CHART 49 ANIMAS CORP.: OVERVIEW SNAPSHOT
Companies Mentioned
- F. Hoffmann-La Roche (Roche) Ltd.
- Insulet Corp.
- Medtronic plc
- MicroPort Scientific Corp.
- Tandem Diabetes Care
