Diabetes is a medical condition characterized by the impairment of body’s ability to process natural sugar. This is seen in terms of hindered insulin production or reduced body response to insulin. The available literature suggests that there persists three types of diabetes, i.e., type 1, type 2, and gestational diabetes. In recent years, the global burden of diabetes has increased. According to the National Diabetes Statistics Report of 2017, published by the Centers for Disease Control and Prevention, ~30 million Americans were estimated to have diabetes, i.e., 1 in 10 people residing within the region. Such prevalence trends are observed across the globe.
Various studies suggests that careful management of diabetes is required. In cases, otherwise, diabetes is reported to cause medical conditions like cardiovascular diseases (strokes & heart attacks), diabetic kidney diseases, etc. A study published by the Cardiovascular Diabetology journal (2018) stated that ~32.2% of the type 2 diabetes patients show symptoms for cardiovascular diseases.
In the light of above illustrated facts, it is reported that a variety of therapeutics against diabetes are available in the market. Diabetes treatment includes insulin administration, medications (metformin, glucophage, etc.), and pancreas transplantation. Research suggests that insulin administration is effective against diabetes. In 2016, Clinical Diabetes journal published a study estimating that 31% of diabetes patients are treated by insulin. Insulin administration involves the application traditional syringe and needle, insulin pens, insulin pumps, etc. The market of insulin pumps have shown a rapid growth and the modality is estimated becoming popular in the near future.
Fig 1: Treatment type for diabetes, 2017 (share %)
Insulin pumps a boon to diabetes treatment
Insulin pumps are small programmable medical devices used for the administration of insulin in sub-cutaneous insulin therapy. An insulin pump can devised into three major parts, namely, insulin reservoir, pumping mechanism, and infusion set. They are operable in two modes, i.e., basal insulin (steady and continuous) dosing and bolus insulin (surge) dosing. Programmable insulin delivery, rapid therapeutic action, reduction in the need for hospitalization and cost of care, patient satisfaction, etc. are some of the major advantages associated with the application of insulin pumps. According a study published by the Clinical Medicine journal in 2016, the patients who shifted from multiple-dose insulin injections (MDII) to insulin pumps reported a significant reduction in insulin-based-diabetes treatment, i.e., around USD 657 per year.
Conclusively, increasing prevalence of diabetes, growing acceptance of insulin pumps, favorable reimbursement & government policies are estimated to be the major drivers for the market growth. However, lack of awareness, stringent FDA approvals, and high cost of the device is estimated to restraint the global insulin pump market during the forecast period. The average cost of insulin pumps is estimated to be about USD 6,000. Moreover, the consumables/associated supplies cost around USD 3000 to USD 6000 per year.
Currently, the market offers various kind of products that can be segregated into tethered pump: MiniMed, Animas Vibe, patch pump (implanted insulin pump, closed loop insulin pump): Omni Pod.
Fig 2: Global Insulin Pump Market, USD million, 2015-2023
Market players and their regional playgrounds
The global market for insulin pump is led by players like Medtronic plc, Asante, F. Hoffmann-La Roche AG, Johnson & Johnson Services Inc., Cellnovo, Insulet Corporation, Ypsomed AG, Advanced Therapeutics UK Ltd, Medtrum Technologies Inc., Trividia Health, Inc., and others.
Medtronic Plc. is a major player in the market owing to the company’s global presence, strong R&D, and successful product line. The company has a presence in 160 countries and a strong distribution & sales channel. One of the products offered by Medtronic Plc. is MiniMed 530G System. This product holds a strong place in the US insulin pump market, making the company to lead the regional market. Moreover, the company is estimated to follow consumer centric strategies for their market expansion. In June, 2018- Medtronic plc launched the MiniMed 670G Performance Guarantee Program. This program allowed payers and employers to mitigate costs for diabetes-related complications.
Fig 3: Top companies in the US for Insulin Pump Market
The global insulin market is witnessing huge R&D expenditure by the major players to improve and expand their products portfolios. Additionally, the companies are expanding their geographical reach within the relatively untapped markets of the Asia Pacific and the Middle East.
Regionally, the market can be segmented into Americas, Europe, Asia Pacific, and the Middle & Africa. Americas is estimated to be the leading market owing to a developed healthcare sector, strong presence of market leaders and high prevalence of diabetes of diabetes within the region. The Asia Pacific region is estimated to be the fastest growing region. This can be attributed to the growing healthcare sector, favorable government policies, and increasing penetration of the major market players within the region.