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Tubeless insulin pumps are tiny, unobtrusive, and lightweight in nature and are also refereed as insulin patch pumps. These products are discrete, cost-effective, easily adhere to human body, and easy to use. As per NCBI, patients having type 1 diabetes prefer tubeless insulin pumps. Currently, these pumps make use of Nitinol Wire, spring, Step Motor, Piezoelectric crystal, Manual pumping chamber, and bladder for insulin delivery. These tubeless insulin pumps are available in myriad sizes and technologies. These products can be worn and effectively handled under clothing. With mounting cases of diabetes, especially among geriatric patients, the tubeless insulin pump market is estimated to witness significant growth over the upcoming years. According to National Diabetes Statistics, approximately 30.3 million people suffered from diabetes across the U.S. in the year 2015. Rising prevalence of diabetes will accelerate the adoption rate of tubeless insulin pump systems for better care and management of disease.
Covid-19 Scenario analysis:
There has been an increase in the demand for medical supplies to take care of infected population. Respiratory support devices such as atomizers, life-support machines, oxygen generators, and monitors are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. There is an increase in the need for medical supplies, both from healthcare professionals and civil population for precautionary measures, owing to the rise in number of COVID-19 cases worldwide. Manufacturers of these products have a chance to capitalize this increased demand for medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Therefore, COVID 19 is expected to have a significant impact on the tubeless insulin pumps market.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact analysis:
Drivers:
Technological advancements
The diabetes care industry has made continuous strides. An array of insulin pump technologies with better management of hyperglycaemia and hypoglycaemia episodes and improved patient comfort has been unveiled over the past several years. Broadly, the evolution of the demand for these insulin pumps, notably tubeless pumps, has been guided by changing regulatory landscape, and evidently constant technological advancements. Particularly, advances in continuous insulin delivery systems including the automation of them has unlocked undoubtedly incredible prospects. The tubeless insulin pumps market has seen new growth trajectories from relentless efforts by medical device makers to expand the choice for patients. Apart from this, the use of tubeless insulin pumps has brought an improvement in the quality of life measures as compared to multiple-dose insulin injections. Fast evolving demand for smart insulin pumps in developed countries has opened new avenues in other regions.
Ease and convenience
A tubeless insulin pump is convenient, portable and effective in achieving better blood glucose level control, eliminating the need for daily insulin injection doses. Benefits such as less pain involved and better convenience in insulin delivery will form the major factors for higher product preference. Devices such as Omni pod is a novel tubeless insulin pump which displays blood glucose levels, schedules insulin delivery and calculates optimal insulin dosage based on the food database. Increased adoption of non-invasive transdermal insulin delivery systems has improved patient compliance for diabetes treatment. Use of microneedles and micro-emulsions improves permeation of insulin through the transdermal route. Other effective routes of insulin administration such as oral, buccal, nasal is explored as alternative non-invasive modes of delivery but none as convenient as tubeless insulin pumps.
Increase in geriatric population and diabetic patients
Increasing prevalence of diabetes due to obesity and increasing geriatric population is driving demand for tubeless insulin pump market. According to the World Health Organization, 2016, an estimated 422 million adults were suffering from diabetes globally. New technologies incorporated into tubeless insulin pump devices is leading to increasing demand for insulin pump devices worldwide. Market players are focused on developing new technologies in tubeless insulin pump devices, which can be used at home with ease and with accurate results, this in turn is expected to boost overall market growth
Regional Analysis:
North America tubeless insulin pump market will face momentous growth over upcoming years. High adoption of tubeless insulin pump and continuous government initiatives to create awareness regarding diabetes management will highly contribute to market growth. Moreover, presence of established market players in the region along with increasing approval of new devices by the U.S. FDA will highly impact North America tubeless insulin pump industry growth in upcoming years.
Indian market held significant revenue share in 2020 and is estimated to expand at significant rate over forecast period. According to the National Health Portal of India, approximately 7.2 crore people suffered from diabetes, in year 2017. Growing availability and adoption of home-based portable devices will augment the market growth. Furthermore, emerging healthcare infrastructure, rising spending capacity of the population and rising awareness about various diabetes care devices will drive Indian market growth in the foreseeable future.
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Questions answered in the Tubeless Insulin Pump Market Research Report:
Key Market Segments
Key Market Players