Tubeless Insulin Pump Market burst to cross USD 2 Billion by 2024

Global Tubeless Insulin Pump Market to exceed USD 2 billion by 2024; according to a new research report by Global Market Insights, Inc. Escalating prevalence of diabetes and obesity, growing geriatric population and technological advances in tubeless insulin delivery should drive the market size. According to WHO, diabetes will be the among the leading causes of death by 2030. These factors will prominently intensify the global usage of tubeless insulin pump over the forecast period.

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Lifestyle changes shall continue to impact obesity prevalence in western as well as non-western population. Cultural switch from native diets to high fatty diet should increase the propensity to get affected by diabetes and obesity surging up demand for the tubeless insulin pump. Technological advances in the field of glucose monitoring devices and tubeless insulin pump should stimulate business growth over the forecast years. Tubeless insulin pump is convenient, portable and effective in achieving better blood glucose level control, eliminating the need for daily insulin injection doses. Devices such as Omnipod is a novel tubeless insulin pump which displays blood glucose levels, schedules insulin delivery and calculates optimal insulin dosage based on food database.

The tubeless insulin pump comprises of a pod/patch, remote and other accessories such as reservoirs and batteries. The Pod/patch market accounted for largest market share in 2016 and is forecast to witness considerable growth over the forecast years. Improvement in pod’s size and functions will drive tubeless insulin pump demand over the coming years. Remote segment is set to witness significant growth, owing to its vital role in insulin delivery process. The need to regularly change a remote is spurring demand for these devices. Incremental innovation to design remote which can control pump functions from distant location will accelerate its usage over the coming years.

E-commerce held the largest market share in 2016 and will continue to be the biggest distribution channel for tubeless insulin pump over the forecast period. Its popularity should grow over coming years owing to rapid penetration of internet and ease of procurement from remote locations, the e-commerce will be the most popular channel for purchase of tubeless insulin pump.

US tubeless insulin pump market accounted for largest regional share in 2016. Diabetes prevalence is escalating due to increasing aging population, rapid urbanization and increasing cases of obesity due to lack of physical inactivity. The anticipated rising demand for tubeless insulin pump should strongly drive regional business growth. Germany will be the biggest market followed by other European countries such as France. However, UK market is forecasted to grow with highest CAGR of above 25% during the forecast period.

Some of the major players in global tubeless insulin pump market are Insulet Corporation, Johnson & Johnson, Medtrum Technologies, Cellnova, Roche Holdings, Spring Health Solutions, Debiotech, CeQur, Valeritas Holding and Abbott Diabetes Care. Insulet is one of the oldest company that offered the first ever tubeless insulin pump, omnipod. Currently, it holds the largest market share and is anticipated to dominate industry share over the forecasts period. It should face intense competition from emerging companies in tubeless insulin pump market such as Johnson & Johnson and Abbott.

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