“Rising incidence of diabetes and technological advancement in glucose sensors is expected to boost the global insulin pump sensor market.”
Orion Market Research (OMR) recently published a market research report on Global Insulin Pump Sensor Market. According to OMR analysis, the global insulin pump sensor market is expected to grow significantly during the forecast period (2018-2023). The market is segmented on the basis of type, transducer classes, end-user and regional outlook. The report provides detailed & insightful chapters which include market overview, key findings, strategic recommendations, market estimations, market determinants, key company analysis, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.
Browse full report at: Global Insulin Pump Sensor Market Research
Rising incidences of diabetes is primarily driving the global insulin pump sensor market. According to WHO, diabetes was the direct cause of 1.6 million deaths in 2015. In addition, according to National Diabetes Statistics Report, 30.3 million or 9.4% of the US population had diabetes in 2015. This total figure comprised of 30.2 million adults with the age 18 years or more, representing 12.2% of overall US adults in the US. Out of 30.2 million adults, 7.2 million were not aware or did not report with diabetes. It shows the low awareness for diabetes within the US region. Hence, the US government has taken initiative to create awareness among people for diabetes. They celebrate November as a National Diabetes Awareness Month. This is celebrated to increase awareness about Type 1 and Type 2 diabetes. This enables to explore the different ways to get people involved by educating peers, inspiring others, understanding the history and giving back. This is achieved by posting a photo on social media that is currently the best medium to make aware people. Such initiatives to raise awareness about diabetes leads the demand for insulin pump sensors as it is used to optimize for glucose levels and provides advanced diabetes control. If people are aware about their condition, they will adopt the technology to improve and manage their condition. This, in turn leads to boost the growth of global insulin pump sensor market.
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Furthermore, the major companies are performing innovations in glucose sensors that enable to increase its effectiveness for diabetic patients. For instance, in June 2018, Medtronic PLC introduced the MiniMed 670G hybrid closed loop system. It is the first and only available system that enables to personalize and automate the delivery of basal insulin 24 hours a day. It is approved for the treatment of patients with Type 1 diabetes, with 7 years of age and older. The system advances the company’s ability to automatically resume and suspend insulin delivery to the next level. This has been achieved by automating self-adjusting basal insulin delivery at each 5 minutes on the basis of sensor glucose values and offers the most advanced algorithm that allows delivering major clinical outcomes. It is an integration of the company’s highly advanced SmartGuard technology and extremely accurate continuous glucose monitor (CGM), such as the Guardian(TM) Sensor 3. These technologies work together to automatically adjust basal insulin delivery to provide protection against both highs and lows and supporting to improve Time in Range. Likewise, Abbott Laboratories are also working in the direction of glucose insulin pump sensors, which in turn increase the efficiency and further drive the market demand.
THE REPORT COVERS:
Comprehensive research methodology of global insulin pump sensor market
In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global insulin pump sensor market
Insights about market determinants which are stimulating the global insulin pump sensor market
Detailed and extensive market segments with regional distribution of forecasted revenues
Extensive profiles and recent developments of market players