India Insulin Pumps Market to Reach USD 18.5 Million by 2025; Increasing Prevalence of Diabetes to Boost Growth

The India insulin pumps market size is projected to reach USD 18.5 million by 2025. The market is expected to gain impetus from the increasing number of patient pools affected by various stages of diabetes in the country. This information is published in a recent report by Fortune Business Insights, titled, “India Insulin Pumps Market Size, Share & Industry Analysis, By Product (Insulin Pumps (Tethered Pumps and Patch Pumps) and Consumables (Reservoirs, Infusion Sets, and Others) and Region Forecast, 2019-2025.” The report further states that the India insulin pumps market value was at USD 11.3 million in 2018. In addition to this, the market will exhibit a CAGR of 9.0% during the forecast period between 2019 and 2025.

Increasing Improvements in Diabetes Reimbursement Policies to Propel Growth

The India insulin pumps market growth is set to increase during the forthcoming years owing to the rising incidence of diabetes across the country. Almost half of the world’s diabetes population resides in India. It is causing the public players to participate actively in enhancing the reimbursement policies available for the treatment of diabetes. They are also providing health insurance free of cost to the masses. As per a published report by the Indian Council for Medical Research, over a quarter-century, the prevalence of diabetes went up to 64% in this country. Besides, a rising healthcare expenditure and increasing patient pool are also augmenting market growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/india-insulin-pumps-market-101773

Key Segment of India Insulin Pumps Market

• Type: In terms of type, the India insulin pumps market is categorized into consumables and insulin pumps. Both these segments consist of sub-segments. The comprehensive detail is given below:

• Insulin pumps: The insulin pumps segment is further segregated into patch pumps and tethered pumps. Amongst them, the patch pumps are gaining more popularity in the country on account of their clinically proven convenience and advantages. They can be controlled by a separate device wirelessly to program the insulin delivery from the patch. Unlike the tethered pumps, these can be attached to the body with a self-adhesive and can be placed in a single case without tubing. Hence, these factors will accelerate the growth of the patch pumps sub-segment. It will also exhibit a notable CAGR.  


• Consumables: This segment was in the leading position during 2018, in terms of India insulin pumps market revenue. The segment is expected to retain its dominant position throughout the forecast period. It further consists of sub-segments, namely, infusion sets, reservoirs, and others. Medtronic, a Dublin-based medical device company, has been efficiently distributing insulin pump consumables in India on account of its strategic joint ventures with other prominent healthcare facilities. Infusion sets sub-segment had the maximum India insulin pumps market share in 2018 owing to the increasing awareness programs regarding the benefits of insulin pumps as well as rising diabetic patient pool.

Renowned Market Player Medtronic Gain Competitive Edge by Offering Vast Product Portfolio

The India insulin pumps market is led by Medtronic, a wholly-owned subsidiary of Medtronic Plc. At present, it is one of the most actively participating market players in the country. The company possesses a wide range of accessories and insulin pumps equipped with advanced technology. The rising sales of its reservoirs and infusion sets have resulted in the company’s high market share. It has occurred because several public and private companies are recommending to change accessories after every 3 days. This is one of the most crucial India insulin pumps market trends that will help Medtronic in expanding its presence across the country.

The industry giant present in the India insulin pumps market is:

• Medtronic

DCGI Declares Cyber-security Risk Over Four Insulin Pumps of Medtronic

• July 2019: The Drug Controller General of India (DCGI) announced that a few models of Medtronic’s insulin pumps are at high risk of being hacked into. It can increase or reduce the doses of insulin delivery to the patients secretively. DCGI has issued a medical device alert over four models saying that they pose major risk of cyber-security. MiniMed Paradigm Veo (MMT-754) and MiniMed Paradigm (MMT-715, MMT-712, MMT-722) can be easily hacked by any person possessing special technical skills.

The India insulin pumps market can be segmented in the following manner: