Europe Insulin Infusion Pumps Market - Growth, Trends, and Forecast (2019 - 2024)
An insulin pump (also known as continuous subcutaneous insulin therapy) is a medical device used for the administration of insulin in the treatment of diabetes. Insulin pumps make it possible to deliver continuous infusion amounts of insulin at regular intervals.
It is predicted to result in long-term cost savings relative to multiple daily injections. The traditional pump includes the pump (including controls, a processing module, and batteries), a disposable reservoir for insulin (inside the pump), and a disposable infusion set, including a cannula for subcutaneous insertion (under the skin) and a tubing system to connect the insulin reservoir to the cannula.
The device configuration may vary depending on design. However, the application of infusion pumps is increasing significantly across the world.
Scope of the Report
The market is segmented by component (pump device, infusion set, and reservoir) and region.
Key Market Trends
Increasing Prevalence of Diabetes and Technological Advances in Insulin Delivery Systems
Prevalence of diabetes among all ages in the European region is increasing, mostly due to obesity, an unhealthy diet, and physical inactivity.
The prevalence of autoimmune type 1 diabetes is also growing in Europe, and as per the sources, Europe has the highest number of children with type 1 diabetic patients.
The European countries that are making the most substantial contribution to the overall numbers in type 1 diabetes in children are the United Kingdom, the Russian Federation, and Germany. This demand surges for a considerable need for the insulin market.
Patients with diabetes know that keeping blood sugar levels in a safe range is extremely important, and good blood sugar control not only makes one feel well, but also helps prevent long-term diabetes complications, such as blindness, kidney failure, and heart disease.
With technological advances, a better way for insulin administration has been discovered for the patients who need tighter control over blood sugar and glycated hemoglobin levels (HbA1C), reducing the chance of long-term complications associated with diabetes. One such advancement is the delivery of insulin through insulin pump.
Germany Holds the Highest Market Share in the European Insulin Pump Market
Germany held a 34% market share in the Europe insulin infusion pump market in 2018, and it is expected to register a CAGR of 4% during the forecast period, due to the favorable reimbursement policy.
Animas had to exit the insulin pump market, owing to the rising competition.
Medtronic is the market leader, and it is expected to maintain its position during the forecast period.
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