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The India insulin pumps market size was valued at USD 11.3 million in 2018 and is projected to reach USD 18.5 million by 2025, exhibiting a CAGR of 9.0% during the forecast period.
Maintaining the sugar-level of blood is extremely important to prevent long-term diabetes complications. Insulin is a type of hormone which helps the body use glucose, a key energy source. People suffering from type-1 diabetes do not produce insulin, while people with type-2 diabetes produce insulin but their body cannot use it properly or produce an insufficient quantity of insulin. Thus, diabetic patients need to take insulin externally to maintain their blood sugar level. India has a substantial patient base suffering from various stages of diabetes. There were around 73 million cases of diabetes in India in 2017. The prevalence of diabetes in adults is over 8.8% in this country and is growing at a rapid rate. Around 98 million people in India are expected to have type-2 diabetes by 2030, according to a study published by WHO in 2018.
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Exercise, diet, and medications can help control blood sugar levels. But they are not enough in certain cases. Insulin therapy is recommended for such scenarios. Insulin can be administered by injecting it with the help of a pen or needle or by using an insulin pump. Insulin pump is a small electronic device that can be easily carried by a patient. It is attached to the body with a tube called infusion set through which the insulin is delivered to the patient. The device maintains a steady flow of insulin throughout the day and is programmed for both basal and bolus dose. In western countries, insulin pumps are most commonly used by type-1 diabetic patients, while in India, 80% of users of insulin pumps are type-2 diabetic patients.
“Increasing Prevalence of Diabetes Likely to Propel Market Growth”
One of the crucial drivers for the market growth of insulin pumps is the prevalence of diabetes in India. The country currently carries almost half of the world’s diabetes burden. This is propelling the participation by public players in the country to improve the reimbursement policies for diabetes treatment and provide free health insurance to the population. The prevalence of diabetes has increased by 64% in the country over a quarter-century, according to a report published by the Indian Council for Medical Research. The rising patient pool, coupled with the increasing expenditure of the population on healthcare is augmenting the uptake of insulin pumps in the country. It will aid the India insulin pumps market growth in the coming years.
“Technological Advancements in the Designing & Mechanism of Insulin Pumps to Drive Market”
The insulin pump varies in the amount of insulin they hold. The introduction of safety features in the insulin pumps is enhancing their popularity throughout the country. The manufacturers have incorporated attractive features, such as customizable reminders and alerts in the insulin pumps. Medtronic, a player in India insulin pumps market, offers a pump that can be programmed to deliver a certain amount of insulin at different rates throughout the day. It also changes the amount of post-meal insulin on the basis of the type of food a patient eats. Such adoption of India insulin pumps market trends to incorporate advanced features in the devices and availability of customized insulin pumps is propelling the market growth in this country.
“Consumables Segment Likely to Reflect the Highest Growth Rate during the Forecast Period”
On the basis of product type, the India insulin pumps market is segmented into insulin pumps and consumables. The insulin pumps segment is further categorized into tethered pumps and patch pumps, while the consumables segment is divided into reservoirs, infusion sets, and others.
The consumables segment dominated the India insulin pumps market revenue in 2018. It is estimated to lead throughout the forecast period. The remarkable distribution of insulin pump consumables by Medtronic in India owing to their strategic collaborations with key healthcare facilities has propelled the market share of the consumables segment in 2018. Infusion sets accounted for the highest revenue in 2018 owing to the growing diabetic population and rising awareness about the benefits associated with the usage of insulin pumps over the insulin pens and needles.
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There are two types of insulin pumps - tethered and patch pumps. The patch pumps are controlled in a wireless manner by a separate device that programs the insulin delivery from the patch. The patch pumps are gaining popularity in India owing to their clinically proven benefits and convenience. Unlike the tethered pumps, the parts of patch pumps are contained in one single case without tubing and the device is attached to the body with a self-adhesive. Attributable to this, the patch pumps segment is anticipated to grow with a relatively significant CAGR during the forecast period and is likely to reach the dominating India insulin pumps market share by the end of 2026.
Medtronic has launched a significant number of advanced and technologically efficient insulin pump models in India, aiming to improve the security of the devices and safety of patients. This is improving the adoption of insulin pumps in the country. However, the devices are rarely reimbursed by private insurance companies in India. Moreover, some of the key models of Medtronic such as MiniMed series have been posing a threat of cybersecurity and the company has started recalling the series from the Indian market post-USFDA notice. Such factors are expected to affect the India insulin pumps market growth during the forecast period.
“Medtronic Registering a Monopoly in India Insulin Pumps Market”
The India insulin pumps market is dominated by Medtronic, which is the only actively operating player in the country. The company has a diversified portfolio for insulin pumps and accessories with technologically advanced features incorporated in the devices. The sales volume of Medtronic’s consumables, such as infusion sets and reservoirs has augmented the market revenue of Medtronic in India. It is occurring because of the recommendations by public & private players to change the accessories in every 3 days. Medtronic’s leading series of MiniMed and Paradigm insulin pumps contribute a substantial sale in the global as well as India market. However, recall of certain models of insulin pump consumables from India is expected to open the doors for other local & international manufacturers to enter the India insulin pumps market during the forecast period.
An Infographic Representation of India Insulin Pumps Market
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The consistently rising prevalence of diabetes amongst the Indian population, improved uptake of insulin pumps, the efficient distribution network of Medtronic in the country, and rising demand for persistent insulin-delivering technology by patients with type-2 diabetes are the key factors estimated to boost the India insulin pumps market growth during the forecast period.
Along with this, the report provides an elaborative analysis of the India market dynamics and competitive landscape. Various key insights presented in the report are the prevalence of diabetes in India (2018), recent industry developments in the India insulin pumps market, an overview of governmental initiatives, brand analysis, pricing analysis, market share analysis (2018), and company profiles.
Value (USD million)
Fortune Business Insights says that the India insulin pumps market is projected to reach USD 18.5 million by 2025.
The India insulin pumps market was valued at USD 11.3 million in 2018.
The India insulin pumps market will grow at a CAGR of 9.0% during the forecast period (2019-2025).
Patch pumps under the insulin pumps segment is the leading sub-segment in the India insulin pumps market.
Significant prevalence of diabetes in India will drive the growth of the India insulin pumps market.
Medtronic is the top player in the India insulin pumps market.
Governmental initiatives for increasing the adoption of insulin pumps and introduction of advanced and cost-effective insulin pumps in the country would drive the adoption of insulin pumps in India.
Increased ease and convenience in terms of diabetes treatment, a substantial reduction in the use of insulin pens and needles, and increasing expenditure by diabetic patients on the convenient and continuous insulin-delivery devices are the insulin pumps market trends in India.
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