Tubeless Insulin Pump Market Trends

Growth Drivers

• Rising cases of diabetes: As per the WHO, diabetes accounts for around 2 million deaths worldwide annually and a study published in Lancet states incidents of type 2 diabetes have increased after the COVID-19 pandemic. The government expenditure to manage diabetes has also increased in many countries, with the U.S. and Switzerland leading in diabetes-related expenditure. The need for advanced diabetes care has led to a boost in the demand for tubeless insulin pumps.
• Increasing aging population in developing countries: As per a WHO report, there will be a rise in the geriatric population by 2050, and 80% of the older population will be concentrated in developing countries. The surge in the aging population along with the rising graph of diabetes cases in developing countries have been a major driving factor in the increase in demand for tubeless insulin pumps.
• Continuous innovations to improve quality of life metrics: There have been steady advancements in continuous insulin delivery systems to facilitate ease for users. Tubeless insulin pumps are easier to use, and convenient, and also improve quality of life metrics when compared to multiple dosages of insulin injections. The integration with smartphones of other wearable technology such as smartwatches allows real-time diabetes management. The ease of use has generated greater demand and has pushed manufacturers to create more affordable products to boost accessibility in new markets.

Challenges

• High costs and technical challenges: The application of tubeless insulin pumps is associated with high long-term costs. The higher costs are detrimental to affordability, especially in middle to low-income countries where diabetes cases are high. The use of these pumps is mildly complex and may require training which can deter certain sections of users. The lack of awareness in developing countries may also impede the growth of this sector.
• Stringent government regulations: The approval of tubeless insulin pumps may take time due to stringent government regulations. Regulatory hurdles may delay the introduction of new products to the tubeless insulin pump market which can impede growth.