The India insulin pumps market size is projected to reach USD18.5 million by 2025, exhibiting a CAGR of 9.0% during the forecast period. However, the market was worth USD 11.3 million in 2018. This information is published in a recent report by Fortune Business Insights, titled, “India Insulin Pumps Market Size, Share & Industry Analysis, By Product (Insulin Pumps (Tethered Pumps and Patch Pumps) and Consumables (Reservoirs, Infusion Sets, and Others) and Region Forecast, 2019-2025.” The report further states that the incidence of diabetes is over 8.8% in adults in this country. However, in 2017, there were approximately73 million cases of diabetes here. In 2018, the WHO declared that ,by 2030, around 98 million people are anticipated to be affected by type-2 diabetes in India.
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Introduction to Advanced Technologies Will Boost Growth of Market
Different types of insulin pumps are available according to the amount of insulin they can hold. Nowadays, owing to the rising technological advancements, numerous safety features are being introduced in the insulin pumps. It is, in turn, increasing the demand for these pumps in the country. Moreover, the key manufacturers are implementing attractive features, namely, customizable alerts and reminders in the insulin pumps.
Medtronic, a prominent player in India, is currently offering an insulin pump that can be programmed to provide a specific amount of insulin at various rates throughout the day. It is capable of changing the amount ofpost-meal insulin based on the type of food a patient consumes. These factors are expected to propel the India insulin pumps market growth during the forthcoming years.
Patch Pumps Sub-segment to Dominate Owing to Clinically Proven Benefits
The India insulin pumps market consists of only the type segment. But based on type, the market is grouped into insulin pumps and consumables. In terms of insulin pumps, the market is further segregated into sub-segments, such as patch pumps and tethered pumps. By consumables, the market is fragmented into infusion sets, reservoirs, and others.
The patch pumps sub-segment is expected to grow at a fast pace by showcasing a high CAGR in the coming years. It would also acquire the maximum India insulin pumps market share. The growth is attributable to their rising popularity in the country because of their clinically proven convenience and benefits. These pumps can be controlled wirelessly by another device. The device will program the insulin delivery from the patch. They can also be kept in a single case without tubing, unlike the tethered pumps. Also, they can be attached to the body with self-adhesive.
