Insulin Patch Pump Market: Overview
For transferring the insulin a device is used that is known as insulin patch pump. Owing to the presence of the adhesive, the insulin patch pump gets directly attached to the body. The presence of the adhesive avoids the requirement of the infusion set and tubing for attaching the pump to the body.
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Insulin Patch Pump Market: Facts
The US Food and Drug Administration approved the Veritas’s V-Go insulin patch pump that was designed especially for the adults that suffered from type 2 diabetes and required the dosage of the insulin. The V-Go is an insulin delivery device that is disposable. It gets attached directly to the skin with the help of the strong adhesive.
Insulin Patch Pump Market: Segmentation
The global market for the insulin patch pump is fragmented into the type of insulin, model type, and the end-user industry. Based on the type of the insulin, the global market is segregated into the bolus, basal, and basal-bolus. Based on the type of the model, the market is categorized into disposable and reusable. Based on the end-user industry, the market is divided into hospitals, private clinics, retail pharmacies, and online pharmacies.
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Insulin Patch Pump Market: Growth Factors
The primary factor that is driving the insulin patch market is the increasing number of the diabetic patients around the world. Also, there is increased awareness among the patients about the technological advancements that are made in this field which is making the life of the diabetic patients easier thus fuelling the growth of the market. Another factor that is propelling the growth of the market is the increased disposable income of the people. The marketing of the products by the market players also triggers the growth of the market. The factors that will limit the growth of the market are the complexity that is involved in the working of the machine, the complexity in the steps that need to be followed, the increased chances of making mistakes negatively affects the growth of the market. Other factors that restrain the growth of the market are when the device is attached to the skin with the help of adhesive cause irritation and swelling of the skin.
Insulin Patch Pump Market: Regional Analysis
The region that is dominating the insulin patch pump market is Europe. Currently, in the state of the U.S., there are limited types of devices that are introduced in the market. But there are various alternatives to insulin patch pumps in the European market. Currently, in Asia Pacific region and the Middle East and Africa, the market is developing at a very slow rate as there is no much advancement found in the field.
Insulin Patch Pump Market: Competitive Players
The key market players that are involved in the insulin patch pump market include Valerie, Johnson & Johnson, Insulet, and CeQur.
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Insulin Patch Pump Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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