Market Intel: Advent Of Artificial Pancreas Tech To Galvanize Fast-Growing Diabetes Market
The global diabetes management devices market is expected to exceed $11.2bn by 2020, driven largely by the rising diabetes epidemic. This, in turn, is fueling significant innovation such as next-generation, automated artificial pancreas systems and miniaturized, less-invasive wireless technologies that can continuously track and analyze glucose levels in real-time. This feature looks more closely at these and other potentially groundbreaking new technologies, as well as the competitive landscape of the two major product segments – insulin pumps and blood glucose monitors.
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The global infusion drug delivery market continues to be driven by the rising prevalence of chronic disease and associated obesity, coupled with a growing aging population. Technological advancements such as less invasive pumps, needlestick prevention features and miniaturization have also supported the growing demand, but obstacles such as safety and security issues remain. According to a new report by Meddevicetracker, the global market for infusion pumps and disposables will reach $9.9bn by 2022, a CAGR of 6.4% from 2017. This article takes an in-depth look at the overall infusion pumps market, and dives deeper into the three fastest-growing segments – insulin, enteral and disposable pumps – highlighting the key players and competitive landscape.
Bigfoot Biomedical said it raised $55m in a Series B financing, including a new undisclosed investment from partner Abbott Laboratories, bringing the start-up's total funding to $90m. The diabetes firm said it plans to use the money to fund clinical trials and marketing of its insulin pump and pen.
More than 75% of Fortune 500 life-science companies may fall out of that ranking by 2023 amid rising competition from tech giants like Apple, Microsoft and Alphabet, as well as smaller tech players that offer data-driven health services and products that meet the needs of a changing value-based and consumer-driven health-care environment, according to a new Ernst & Young report.