SOURCE: MarketResearch.com

MarketResearch.com

August 30, 2010 09:08 ET

Global Insulin Pumps Market to Reach $1 Billion by 2016

ROCKVILLE, MD--(Marketwire - August 30, 2010) -  MarketResearch.com has announced the addition of GlobalData's new report "Insulin Pumps - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016" to their collection of Medical Devices market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2750464

The global insulin pumps market was valued at $586.4m in 2009, and is forecast to reach $1,051m in 2016 after growing at a Compound Annual Growth Rate (CAGR) of 9% from 2009 to 2016. The growth in the market is primarily being driven by increases in the elderly population and obesity rates, advances in technology (the emergence of an artificial pancreas and an insulin and glucagon delivery system) and rising patient awareness. Due to the advantages of flexibility and tighter control over glucose offered by insulin pumps to niche patient groups like pregnant women and children, the insulin pumps market has grown rapidly in the past few years.

The US insulin pumps market is expected to reach $843m in 2016, growing at a CAGR of 9% from 2009 to 2016. The traditional insulin pumps segment was valued at $394m in 2009 and the disposable insulin pumps segment was valued at $58.9m in 2009. The US remains the largest insulin pumps market. The insulin pumps market in the US is going to be driven by the increased penetration of well established players and next generation pumps such as artificial pancreases and the simultaneous delivery of insulin and glucagon.

The increasing prevalence of diabetes will drive this market. Diabetes results in nearly four million deaths every year. The International Diabetes Federation (IDF) estimates that by 2025, nearly 380 million people worldwide will have diabetes. The diabetic population is going to grow in developing countries due to people leading more sedentary lives, changes in diet and urbanization. Seven out of the ten countries with the highest number of people with diabetes are in the developing world. China, India and the US constitute the majority of the diabetic population. The obesity rate has increased globally over the past few decades. Currently, more than one billion adults are overweight worldwide, which is a major risk factor for diabetes. This increases the prevalence of diabetes and is expected to drive the insulin pumps market.

"Insulin Pumps - Global Pipeline Analysis, Opportunity Assessment and Market Forecasts to 2016" assesses the market landscape, competitive landscape and market trends on insulin pumps, a key segment in the diabetes care devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape, key pipeline products, and technology offerings.

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2750464

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