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[IP] Insulin Pump Market, Where it Stands Today and What t he Future Holds
Find out why DI sees this market following the glucose meter market.
David Kliff, Publisher Diabetic Investor
Ever since the landmark Diabetes Control and Complications Trial
(DCCT) published back in 1993 found that intensive insulin therapy
resulted in better glycemic control, many industry observers felt that
sales of insulin pumps would skyrocket. (Intensive insulin therapy was
defined as multiple daily injections of insulin, multiple being 3 or
more injections per day.)
The experts surmised that the majority of insulin using diabetics
who were using syringes or pens to deliver their insulin would switch to
an insulin pump. The theory was why would anyone using insulin put up
with the hassle of injecting themselves three or more times a day, when
they could switch to an insulin pump which delivers insulin throughout
the day, and only requires a patient stick themselves once every three
days when a new infusion set is needed. Although insulin pumps had been
around for some time before this data was published, it wasnt until the
data became public that the medical community began to see pump therapy
as a serious alternative to multiple daily injections.
Today, its estimated that there are over 200,000 patients using
insulin pumps here in the United States and more than 300,000 worldwide.
In this issue of Diabetic Investor, well take a look into the future of
the insulin pump market.
MiniMed the current leader with over 80% market share ,was acquired by
Medtronic for $3.7 billion.
One reason why this market is attracting so much attention is the
large number of insulin using diabetics, NOT using an insulin pump. The
International Diabetes Federation estimates that approximately 4.9
million people worldwide have Type 1 diabetes. There are also a
substantial number of people with Type 2 diabetes who use insulin.
While there are no exact figures for the number of Type 2s using
insulin, its estimated this group numbers between 3 and 4 million
people in the United States alone. Conservatively, one can estimate that
worldwide there are over 10 million people with diabetes who use
insulin. This being the case, its easy to see why many believe the pump
market can grow by 25% to 30% per year over the next five years.
Disetronic, #2 behind MiniMed, is being courted by just about everyone
whos not currently in the pump business.
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