Dublin, Aug. 30, 2018 (GLOBE NEWSWIRE) -- The "Global Insulin Pumps Industry (China-specific Market Assessment) - Drivers, Restraints, Opportunities, Trends, and Forecasts: 2018-2024" report has been added to ResearchAndMarkets.com's offering.
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.
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.
Tethered insulin pump is dominating with more than 70% of the market share. 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.
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.
Key Topics Covered
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 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 8 Market Attractiveness 8.1 Market Attractiveness by Products 8.2 Market Attractiveness by End Users 9 Competitive Landscape 10 Product Matrix 11 Vendor Profiles 11.1 Insulet Corp. 11.2 Medtronic plc 11.3 MicroPort Scientific Corporation 11.4 F.Hoffmann-La Roche Ltd. 11.5 Tandem Diabetes Care Inc. 12 Companies to Watch For 12.1 Eli Lilly and Company 12.2 Animas Corp. 12.3 Sooil Development Co. Ltd. 12.4 Ypsomed Holding AG 12.5 Valeritas Inc. 12.6 GlySens ICGM
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