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market. Moreover, ongoing research projects related to implantation of insulin producing stem cell can
hinder market growth in coming years.
Technological developments, including home infusion therapy and artificial pancreas are likely to create
lucrative growth opportunities for the market.
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The market can be segmented on the basis of pump type, accessories, and end-users. Based on pump
type, the market can be categorized into smart, disposable, and traditional. In terms of accessories, the
market can be classified into insulin reservoirs, infusion sets, and infusion set insertion devices. On the
basis of end-users, the market can be divided into home care, hospitals, clinics, and laboratories.
North America is expected to grow fast in coming years attributed to increasing number of diabetic
patients in the United States. Growing adoption of insulin pumps in the U.S. and Canada can drive the
market in the region. According to a report by Centers for Disease Control and Prevention (CDC), one
in three individuals in the U.S. is expected to have diabetes by 2050. Technological developments in
medical devices can impel market growth in the region. In addition, launch of advanced infusion pumps
by local manufacturing companies can augment growth of market in coming years. For instance,
Medtronic launched Guardian Connect CGM system for people with diabetes. This system can alert
patients of potential low or high of glucose events up to 60 minutes in advance. Guardian Sensor 3
used in this system is the most advanced glucose sensor made by the company. People using this
system can also have access to Sugar.IQ smart diabetes assistant to address common problems
related to diabetes. Similarly, Tandem Diabetes Care received approval from the U.S. Food and Drug
Administration (FDA) for its slim X2 insulin pump with Basal-IQ technology. Basal-IQ predictive low
glucose suspend (PLGS) feature is designed to lessen the duration and frequency of low glucose
events.
Asia Pacific is anticipated to witness significant growth in the coming years owing to increasing cases
of diabetes in developing countries, such as India, China, and Japan. These countries are expected to
contribute to more than 70 percent of the world’s diabetic population. China is estimated to hold the
largest share in the market owing to presence of leading market players. For instance, Medtronic
announced that it is planning to open its new operation site in China to address the increasing diabetes
epidemic in the country.
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