The global tubeless insulin pump market is set to see a steady growth between 2018 and 2028. The driving force behind this growth is increase in need for glycemic control. This effectiveness in turn is demanded for two reasons. One, people with diabetes need better control over their lives regarding sugar levels as their day to day activities depend on this information- preparation is often made accordingly. Two, the population of diabetic people is ageing and as people are ageing, so are their chances of getting diabetes.
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As per a recent report, it has been found that people in the age bracket of 65 and above are set to increase over the coming years. By 2050, one in six people will fall into this category worldwide. The situation will be more severe in regions of North America and Europe. Here, the population figure for the demographics will be one in four. And, this is not all. Already, the year 2018 has proven to be historic. For the first time in the history of mankind, did population of people aged 65 and above surpass those in the age group of five and below.
But to be fair, it is not so much ageing as it is lifestyle switches that is impacting diabetes. More and more people today have longer work days and hectic schedules. The stress is eating up lives from the inside. At no point in the history of the world have we seen so many people suffering from anxiety and panic attacks, depression and other such mental issues. This problem is further complicated by people opting for nuclear families, particularly in regions where joint families were a traditional form of family living.
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All this coupled with rapid industrialization, urbanization and westernization us bringing the number of diabetics up by a notable number. And, as income of this population is also rising, credit the same reasons, the need for convenient pumps is increasing. And, this is set to drive the market of tubeless insulin pumps up significantly.