Omnipod: A Prominent Device Responsible for the Growth of Tubeless Insulin Pump Industry
Growing demand for tubeless insulin devices is driving the growth of tubeless insulin pump market. The traditional invasive insulins are replaced by the tubeless insulin pumps. The technology advancements in the insulin pumps industry will diminish the demand for traditional insulin devices.
For nearly three decades, a million of people with diabetes have counted on insulin pumps to measure the blood sugar levels. Looking at the current world scenario, there are around 371 million people that are affected by diabetes. This states that a huge amount of the world population is suffering from this chronic disease that is caused due to inappropriate functioning of pancreas. Diabetes is responsible for the production of insulin hormones. The major reason for occurrence of diabetes is when a human body produces less or no insulin. Diabetes can be divided in two types - Type 1 and Type 2. When the body stops producing insulin it is Type 1. Whereas, in Type 2, the body does not respond well to the insulin.
What Is an Insulin Pump?
A small electronic device that delivers a continuous infusion of insulin into the subcutaneous tissue for the treatment of diabetes. The pump is designed to deliver insulin in a way similar to the pancreas of a person without diabetes. . But you still need to check your glucose level and adjust the pump for the right amount of insulin to be released. The insulin pump releases insulin in two ways:
Basal rate: To keep a constant level of glucose in the body, a small continual quantity of insulin is released, between the meals and overnight.
Bolus rate: To control the glucose release, a higher amount of insulin is released before meals.
The Market Scenario
At present, the tubeless insulin pump market is rapidly progressing and is certainly about to rise in the future. According to a research report by Research Dive, the global tubeless insulin pump market is anticipated to garner a revenue of $2,837.6 million by 2026 and grow at a CAGR of 23.4% from 2019 to 2026. This is mainly due to the rising population of diabetes cases, and decrease in demand for the traditional insulin pumps that caused infections. The market players are espousing several latest trends in tubeless insulin pump market along with many approaches such as joint ventures, mergers and acquisitions to stand strong in the competition.
The Omnipod: Making Diabetes Management Simpler
Insulin pumps have remained largely unchanged over the years, leaving the device ripe for innovation. People using traditional insulin pumps often have to adjust their everyday lives to manage their diabetes for living comfortably. The tubeless insulin pump has made it simpler for the people with diabetes.
A significant development is taking place to replace the traditional insulin delivery systems and Omnipod is one of them. In the mid of 2018, Omnipod, was introduced to the insulin pumps industry as a waterproof tubeless insulin device. It is a Bluetooth-enabled device with a touchscreen feature and a personal diabetes manager (PDM), same as an Android phone. The small device is a lightweight, disposable pod that can be positioned anywhere on the user’s body and can be worn up to three days. The pod does not require any tubing and can be connected wirelessly to the PDM, to determine when to deliver insulin. It’s the first device with a sensitive security protocol system.
Joint Ventures for Strong Hold in Business
Insulet, a medical device company, and Eli Lilly & Co., a pharmaceuticals maker Eli Lilly & Co. joined forces in 2013. Together, they developed the first tubeless insulin pump to provide patients with highly insulin resistant diabetes. The duo released a new version of Insulet’s insulin pump to deliver Lilly’s Humulin R U-500 insulin. The new device was launched in of 2016, which is said to be the world’s first tubeless insulin pump. The company has a long history of collaborating with medtech, including a Parkinson’s disease partnership with Medtronic (NYSE:MDT) and an orthopedic partnership with Synthes.
There are several other companies in the market that are contributing in the growth of the global tubeless insulin pump market. Some of these include Medtrum Technologies Inc, Insulet Corporation, Debiotech, Johnson & Johnson, Rosh Holding AG, Cellnovo Group SA, Spring Health Solution Ltd, Veleritas, CeQur SA, and Abbott Diabetes Care among many others. Apart from this, increase in number of awareness programs initiated by the government, is impacting in the market growth, all over the world.
Let’s Talk about Travel Technology and Privacy Issues Pertaining to itNovember 30, 2020
What Will Be the Picture of the World Economy by the End of 2020, after COVID-19 Pandemic Settles?November 30, 2020
The Evolution of Language Technology Eases Interpretation of Human LanguagesNovember 30, 2020
Drive-in Theaters and Live Entertainment Witnessing Booming Growth During COVID-19 PandemicNovember 30, 2020