Asia-Pacific Insulin Infusion Pumps Market - Growth, Trends, and Forecast (2019 - 2024)
The Asia-Pacific insulin infusion pumps market is expected to witness a CAGR of 6%, during the forecast period (2019-2024), due to the exponentially increasing diabetes population in the Asian region.
Patients with type-1 diabetes mostly use the insulin infusion pump. However, companies are also targeting patients with type-2 diabetes, in order to provide better healthcare facility and expand the market. Insulin pump reduces the burden of multiple daily injections. The diabetes epidemic in the Asia-Pacific region offers significant unmet needs and market opportunities.
Scope of the Report
The market is segmented by component (pump device, infusion set, and reservoir) and geography.
Key Market Trends
Increasing Diabetic Population
Over the past few decades, Asian countries have witnessed an epidemic increase in diabetic patients. More than 60% of the diabetic population exists in developing countries.
Self-monitoring of blood glucose fails to monitor blood sugar level from time to time. Thus, there is a need for continuous glucose monitoring, along with an insulin pump for diabetes patients.
China Accounts for the Highest Market Share in the Asia-Pacific Region
In the Asia-Pacific insulin infusion pumps market, China accounted for close to 72% of the market value, in 2018. By 2024, the insulin infusion pump market in China is likely to be valued at USD 0.9 billion.
Malaysia and Vietnam account for the highest CAGR of 7% and 6%, respectively, in the market studied.
Medtronic is the market leader, and is expected to maintain its position during the forecast period.
January 2018: Medtronic, a medical device company, plans to open the operation site in China, to cater to the diabetes epidemic in the country.
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