(PharmaNewsWire.Com, September 13, 2017 ) In recent years, growing prevalence of diabetes, escalating geriatric population, and rising public awareness regarding the availability of insulin pumps has bolstered the market growth of insulin pumps, on a global level. The demand in the global insulin pumps market is projected to increment at a healthy CAGR of 9.8% during the forecast period of 2017 to 2025, finds a new study published to the online repository of Market Research Hub (MRH). This is a 191 pages study, which is titled as “Insulin Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2017-2025”. The study analyzes the market trends and forecasts till 2025. In addition, the market size estimations have been provided in terms of volume and value (USD million).
For a clear understanding of the market, the report studies the current as well as future prospects of the market globally. In order to explain the intensity of competition in the market, the report has been segmented geographically into major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Apart from that, the market overview section of the report explores the market dynamics such as drivers, restraints and opportunities that currently have a strong impact on the insulin pumps market and could influence the market in the near future.
Insulin pumps are the devices used to administer insulin in the body to control diabetes. It has been analyzed that Insulin pump therapy has a number of advantages over the syringe method, thus highly preferred. Insulin pumps are set to make strong gains as they support effective diabetes management in difficult cases. The market is gaining traction from a number of factors, such as increasing prevalence of diabetes, increased focus on adult population, increasing disposable income, and growing public awareness due to the penetration of social media.
In the next section, the study highlights overall information and data analysis of the global insulin pumps market with respect to the leading market segments based on major products segment, distribution channels, and geographies. Based on product type, the market has been segmented into insulin pumps and insulin pump supplies & accessories. Presently, insulin pumps segment is most profitable, accounting for 70.1% of the market in 2016. Major distribution channel category includes hospital pharmacy, online sales, retail pharmacy, and diabetes clinics or centers. In terms of geography, North America is the most dominant region, while Europe continues to be the second most profitable region.
Later, the competitive scenario among different market players is assessed through market share analysis in the competitive landscape section of the report. This subsequent section profiles key players operating in the insulin pumps market which are Ypsomed AG, Valeritas, Inc.,Medtronic plc, Tandem Diabetes Care, Inc., SOOIL Developments Co., Ltd, Cellnovo Group SA, F. Hoffmann-La Roche Ltd., Animas Corporation (Johnson & Johnson), Insulet Corporation and Jiangsu Delfu Co., Ltd.
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